Price of Scrap Metal
The price of scrap metal is an important factor you should consider if you want to make real money in this field of business. Without you knowing the price of scrap metal, you could waste an enormous amount of time collecting garbage metals that barely cover your gas expense. In the details, that follow I’ll briefly describe a few ways you can determine the price for scrap metal on your own.
Ask – I’m sure you see fellow scrap metal recyclers all the time. Usually the day and night before trash day. You may have even considered them a nuisance at one time but the truth is, there is money in scrap metal. I certainly would not wear my good clothes or drive my good car to go and pick up rusty metal scraps so don’t judge scrappers to critically or assume they are homeless or worse. Metal recyclers and buyers have always been around, just never near your grocery store. They are typically located in industrial complexes.
Speak with six or more of the scrappers that you see in your area. Don’t necessarily ask them where they get their metals from; instead ask them which scrap metals are most valuable. You may find that some of the fellows willingly share, yet some may seem disgruntled. Never take offense simply ask another person that you run into.
If you’re able to get some information on pricing, which scrap metal is worth the most money be sure to write the information down. Although the price of scrap metal changes throughout the day, you should never wait weeks at a time before you check for scrap metals buying and selling prices. Some days are actually better to sell your scrap on than others are, so as a rule you should always check for updates at minimum, every 2 days.
Direct – Contact scrap metal buyers by phone to determine the price of scrap metal. Use the internet or the phone book and locate local scrap metal buyers in your area. If you plan to do business with these recycling companies, it’s a good idea to introduce yourself and ask about their policies. Some metal recyclers even offer daily and weekly print outs of their metal pricing table that could easily be faxed to you.
There are typically a number of good metal buyers in your area but before you travel to far in search of a higher payoff always factor in your load of scrap metal and the gas it will cost to get you there. This is why I suggest building a common bond with multiple scrap metal dealers. Some near you and some that are further away, who of course pay more. However having a few other locations that you provide scrap metal for can often help you avoid long lines at the scrap yard.
Be sure to check out my other articles on scrap metal as well for more tips that you can use. If you are starting your own scrap metal business, I have some great tips that you can use to get the word out. Most scrap metal collectors work seven days a week but you do not have to if you know where to always find scrap metal. I provide in debt, yet easy to understand instructions on how you can set up contractual agreements with machine shops as well as other companies that manufacturer products out of various metals that are waiting for scrappers to haul away their scrap. Figuring out the price of scrap metal, you will see, it the easy part but the prices of scrap metal aren’t the only thing that you need to know.
Let’s put it this way, if the only thing that you have done thus far is drive through neighborhoods, you are only scratching the surface money of the scrap metal industry. There are more people throwing away metal scrap everyday than there are scrappers out there picking it up. Besides our book section, all of the information on this site will never cost you a thing. Regardless to what you may have heard, there is no slow time in the scrap metal, steel and copper industries.
If that were true, you would not be able to buy anything electrical or anything that is held together with screws, next week. Make certain that you visit often because I add new helpful information on a regular basis. As always, if you have any tips you would like me to share feel free to email them to me using the contact form. I’ll do my best to research and provide you with what ever tips I can, dealing with scrap metal recycling and how to get the best prices for scrap metal.
Tips: Depending on where you live and what types of metal scraps you collect, you may need a license. Check with your city for information on scrap metal dealing. Scrap buyers should also have this information available for you.