Metal recycling is a growing industry that offers manufacturers a way to offset the raw materials used in creating new metals and alloys. Some materials have more value to recyclers because they are less common or have specific properties the recycler needs. For anyone engaging in metal recycling for money, there are some things you should know to help streamline your business and maximize profits.
Know Your Material
When metal recycling is your business, and you want to make the most profit on materials, you need to understand the different materials and how the prices work. Steel and steel alloys are readily available in the scrap metal industry, and consequently, they tend to have less value than other materials.
Non-ferrous metals include aluminum, copper, lead, nickel, tin, titanium, and zinc. Copper alloys like brass and bronze have more value because they can be used many times over without any molecular change to the properties of the material. As a result, these materials hold the highest value to recyclers and can make you the most profit.
However, it is essential to understand that the metal needs prepping to ensure the best price. Solid copper wire, for instance, is often high on the list of sought-after materials for recyclers, but if the wire has the insulation still on it, the price per pound can often be a dollar or more lower than if you take the time to remove the shielding.
The price fluctuations are normal with many materials, and ensuring you are not taking mixed metals to the recyclers is essential to maximizing the return on your time investment. Learn the materials, determine how to tell them apart, and know when to strip or disassemble items, and you can increase your earnings substantially.
As you begin to collect metal that you are going to sell, you need to determine when to take it to the metal recycling center. Waiting for the best price is often crucial, but the number of materials you recycle can also be vital.
The price you get from metal recycling yards can change with the material quantity needed, so check with the yard before you head in with metal to sell. If the price is up and the yard has a limited supply of copper on hand, they typically will pay more for the material.
Since buyers pay for metal by weight, taking a trailer or truck load of a single metal in a larger quantity is the best strategy for maximizing your profits from metal recycling. Separating the materials and limiting the load to one metal type is often the best way to streamline the process and ensure that the buyer pays for a clean truckload at a fair price.
Talk to a metal recycling company, such as Durable Metals, to learn more.