Recycled metals accounted for 32% of all crude steel worldwide in 2019. This indicates that scrap metal demand is high, and will continue to rise as more companies and individuals become environmentally conscious.
Earn some extra cash by collecting scrap metal. The amount you make will depend on what strategies and tactics you use. Therefore, you should learn how to make more money in the scrap metal collection industry. These are five ways to make more from scrap metal.
1. Separate Metals
Sorting and organizing your metals by type and quality is important. While some metals, such as aluminum and copper, have higher values than others, they can be overlooked if presented with other recyclables.
If your scrap collection contains more copper than aluminum, then the aluminum rates may determine the price for the whole selection. You will make more if you give copper separately.
Sort all the metals you have collected in your garage. Label each metal and place it in a separate container. You can get help from an expert if you’re a beginner who doesn’t know how differentiate metals.
2. They should be protected during storage
Before taking your scrap metal to the yard, make sure they are protected during storage. When exposed to oxygen and water for prolonged periods, ferrous metals can rust.
Rust can cause metal to rust, which will reduce its weight. Yards primarily pay for their weight so you’ll make less.
Keep scrap metal in dry areas or use desiccant drying agents to prevent rust.
3. Concentrate on non-ferrous metals
You might make more money if you collect less-valuable metal, but still deliver a truck loaded with metal. Metals can be divided into two main groups: ferrous or non-ferrous.
Ferrous metals contain iron. Examples include cast iron and carbon steel. These metals are more affordable. These non-ferrous metals are not iron-rich and therefore have a lower price. Copper, zinc, lead and brass are just a few examples.
A magnet can distinguish these two metals. Non-ferrous metals are magnetic while ferrous metals aren’t. To collect more valuable metals, you may need to bring a magnet to your collection location. A truck filled with non-ferrous metals will net you a lot more money.
4. Keep up with the pricing
Scrap metal prices can change depending on supply and demand. You should research the current pricing and keep yourself updated. For the most current pricing, please visit our website.
Knowing the market price and trends can help you sell scrap metal even if the price is high. This is a great tip if you don’t want to rush and sell.
5. Get Scrap for Free
You may not make a significant profit if you purchase scrap at high prices. You should always take advantage of free scrap. This can be done by collecting any old metal products from your home.
You should inspect your gutters and fixtures for damage. Metal can be found all around your home so don’t forget about it. You might be able to pick up at the premises of your neighbors or local businesses. All you have to do is ask.