Recycling scrap metal is a simple method for earning a little additional cash on occasion. Moreover, if you are diligent, you can collect materials from worksites during demolitions and renovations in your local area. However, keep in mind that collecting scrap metal and selling it directly is not profitable. If you do not plan for the material recycling work with care, the potential losses could be significant. Here are some guidelines for maximising the value of your scrap metal.
Choose a Recycler
The chosen scrap metal recycler will determine the earnings from your material. Therefore, if you have metal for a single sale or interested in long-term recycling, select a reliable dealer. When choosing a recycler, consider only licenced businesses with legal operations. Regulated companies follow appropriate rules and regulations of the recycling industry. Also, make sure that the business can purchase a range of metals. This consideration is particularly critical if you have found rare or precious metals. Additionally, compare the general prices for scrap metal in the area before recycler selection. The information will help you understand a fair price for your goods.
The most common mistake made by new scrap metal collectors is the lack of material separation. In other cases, the segregation is incorrect due to the lack of knowledge of different metals. The sorting practice can seem tedious and time-consuming. However, this work determines the total value of your materials and the earnings. If the scrap is mixed, the recycler will measure the weight and use the unit price of the cheapest material, usually steel or other common ferrous materials.
As a result, you will suffer financial losses if you have better materials like copper, even in small quantities. Therefore, take some time and learn about the properties of different materials. Use your knowledge to sort scrap as finely as possible. For example, if you have copper pieces, separate them into different grades. Solid copper will be more valuable than alloyed material or products with plating, coatings or finishes.
Clean the Materials
Scrap metal does not need to be in perfect condition before recycling. However, some level of cleaning will increase the value of the material. For example, if you have found electrical copper wires with insulation, consider removing the plastic material. Recyclers will accept metals with other materials like coatings, attachments and accessories. However, the company will pay less because they will take into account the additional time required for preparing the material before recycling. Avoid this issue by cleaning up the scrap before selling.