Many people hear there's money out there in the form of junk scrap metal. So they start collecting it and bringing it to recycling centers and scrap metal yards…and walk away with a couple of dollars. There's money in scrap metal, but you have to go about the process properly. Here's what you need to know.
1. Always Think Bigger and Look for More Metal
Scrapping takes effort. If you want to really make money, you will have to put in work. You will need to scout for metal high and low
You will have to scour the Internet looking for people giving away scrap and appliances that can become scrap. You will have to find the places that regularly need to get rid of scrap and try to turn them into a regular stop.
Many people think they can go out on a weekend or garbage collection day and gather enough scrap to turn a nice profit. And you can absolutely do that. Just remember you're looking to collect tons of scrap, not just a few pounds. Plan your collection efforts accordingly.
2. Separate Your Scrap Metal Before Going to the Scrap Yard
Do not load all of your metal up in a truck or a box and take it to the scrap yard without sorting it. Some metals are more valuable than others, and if you go to a scrap yard that accepts scrap by weight, you'll lose out on money.
In some cases, the scrap yard may simply value the whole lot at the price of the cheapest metal and pay you that way. This is a scenario you want to avoid.
3. Scrap Yards Have Different Prices and Different Preferences
Scrap yards do not all pay the same. Some pay more than others for specific types of metal. This is another reason why it's best to separate your metals as best you can. That way, you can sell your specific metals to the scrapyards and services that will pay the most for them.
It's in your best interest to shop around and ask for prices before you go to a scrap metal recycling center. Know that scrap metal prices fluctuate, so always make sure you know what the current market value is at any given time.
Make Money and Feel Good About It
Even though you're trying to make money, keep in mind that you're still performing a public and environmental service by recycling. So you can feel good about yourself while you slowly plan to become the scrap king of your geographic area. Contact a local scrap buyer, like Cherry City Metals, for more information.