My guess is it isn’t knittable. Knitting fine wire is a thing; I’ve crocheted some tiny granny square earrings with it. Anything thicker would be more of an artist’s project.
The scraps? Melt them down? Make a cat toy?
I spend way too much time knitting and crocheting (man, I’d love a loom so I could weave . . .) and there is some way expensive yarn around, and yarn with metal in it if acrylic, cotton, linen, or wool doesn’t suit you. I’d skip that silver stuff. Who wants a tarnished sweater?
edited to actually address the question
