No it doesn't.*
Aluminum costs 5% when recycling compared to from new.
Plastics costs around 30% when recycled compared to from new.
Paper costs 60% compared to from new.
There are other resources, especially the rarer ones, but there are also some areas where it is more ecologically valid to recycle, even though it is not profitible, such as batteries/computers/fridges containing toxic materials and acids which cause damage the environment and its wildlife.
There are also problems related to landfill sites, you cannot keep dumping rubbishing into the ground, because of many reasons, number one is the huge amount of methane that gets produced which can cause explosions.
There are many reasons to recycle, not all of them include profit, then again if we lived only in the name of profit, we would never have children.
As for enviromental concerns, you have to remember this. You do not inherit from your ancestors, you only borrow from you children.
*Yes, there are some resources that are currently cheaper to get new from other countries. Which also argubly, we don't have ourselves.
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