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The Scrapper perk gives you more components back when scrapping weapons and armor, from screws and copper to circuitry and nuclear material.”— Fallout 4 loading screen hints
With this perk, the Sole Survivor can find more components when breaking down weapons and armor. The first rank allows for uncommon materials (like screws, aluminum and copper) to be retained when scrapping weapons and armor; the second ranks allows for rare materials (like circuitry, nuclear material, and fiber optics) to be retained as well.
With Far Harbor, another rank is added that causes one to simply gain more resources when salvaging weapons and armor.