5 Tips to Help You Make the Most Out of Scrap Metal

In 2019, 32 % of the crude steel that was produced in the world came from recycled metals. The demand for scrap is high, and it is expected to continue growing as environmentally conscious companies and individuals gravitate toward recycled products.

You can earn money by collecting scrap metal. The amount you can earn depends on your tactics and strategies. If you are interested in starting a scrap metal collection business, it is important to learn how to maximize your profits. Here are five ways to get more money out of your scrap metal.

1. Separate Metals

Sort and arrange your metals by type and quality. Copper and aluminum are valuable metals, but can be overlooked if they’re mixed in with other recyclables.

If your collection of scrap has more aluminum than it does copper, you may decide to price the whole selection based on the aluminum rate. If you decide to sell the copper separately, however, you can make more money.

Sort all the metals you have collected in your garage. Label each metal container. You can use online guides or ask an expert for help if you’re a beginner who doesn’t know the difference between metals.

2. Store them safely

Protect your scrap metals during storage and before you take them to the yard. When ferrous metals are exposed to oxygen and water for an extended period, they rust.

You will earn less money because rust can reduce the weight of metal.

Use desiccant agents to dry out scrap metal or store it in low-moisture areas.

3. Focus on non-ferrous metals

You might be able to deliver a truck of metals and still earn less money if you only collect the less valuable metals. Metals are divided into two main groups: ferrous metals and non-ferrous metals.

Cast iron, alloy steel, and carbon steel are all ferrous metals. Prices for these metals are lower. Non-ferrous materials are more valuable because they don’t contain iron. Copper, zinc, lead and brass are examples.

Magnets can be used to differentiate between the two. Non-ferrous metals are not magnetic. You may need to bring a magnet with you to the collection site to focus on more valuable metals. If you arrive at a yard in a truck with non-ferrous materials, you will earn a lot more money.

4. Stay up to date with the latest pricing

Prices of scrap metals are usually affected by demand and supply. You should therefore research pricing and keep up to date. Visit our website to see the current price.

Knowing the current market price can also help you to deliver scrap metal at a time when prices are high. This tip is great if you’re not in a rush to sell.

5. Find Free Scrap

If you purchase scrap at high scrap copper prices Sydney, it is possible that you will not make a profit. You should therefore take advantage of scrap that is free. Collecting old metal items in your home is a great way to do this.

You can find metal in many places around your home, including old gutters or fixtures, lawnmowers and metallic tables and chairs, paint cans and musical instruments, bicycles and appliances with copper wiring. Don’t forget to look for metal in your trash. You can also collect from your neighbors or local businesses. Just ask.