Any item that is not specifically listed as "Unsalvageable" is considered Salvageable. Currently, this indicator only affects the Smith talent "Scrap," however, there will be future mechanics that utilize Salvageable items.
"You know the thing that makes gods fight against each other or marry one another? Or when something changes the minds of men to do wonderful or horrific things and no one really understands why? Whatever it is that makes those things happen... If there is a god that does that, I aspire to be that god."