Appears wet perhaps but may be salvaged (5,5)

I believe the answer is:

waste paper

I'm a little stuck... Click here to teach me more about this clue!

'may be salvaged' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.

'appears wet perhaps' is the wordplay.
'perhaps' indicates anagramming the letters.
'appears'+'wet'='appearswet'
'appearswet' is an anagram of 'WASTE-PAPER'.

'but' is the link.

Can you help me to learn more?

(Another definition for waste paper that I've seen is " Refuse".)

I've seen this clue in The Globe and Mail.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.