Scrap metal collecting is a fantastic way to clean up your home or business, make a little extra money, and do your bit for the environment. If you’re thinking of dabbling in a little scrap metal collecting, then here are four handy tips to keep in mind.
Know your metals
One of the best pieces of advice to take on board if you’re an aspiring scrapper is to know your metals. Not all metals are made equal and bigger isn’t always better when it comes to collecting. Copper, aluminium, brass and steel are the most commonly scrapped metals and of these, copper is by far the most valuable due to it’s scarcity. Although you’re unlikely to find copper in any great quantities, the scrap price that copper wire, guttering and plumbing can fetch far outstrips what you’ll get for bringing in even twice that weight in stainless steel.
Take a magnet
Magnets are an incredibly valuable tool when scrap collecting as they are a sure fire way to tell the difference between ferrous and non-ferrous metals. The magnet will stick to ferrous metals contain iron and tend to fetch a lower price than non ferrous metals like aluminium, brass, copper and lead.
Understand grading
Scrap metal comes in different grades and fetches different prices depending on the alloy composition, the state of wear, and the amount of work that needs to be put into the metal in order to recycle it. Almost all metals come in different classes with the purest metals being the most valuable. Copper for example comes in three different grades, which fetch radically different prices.
Keep an eye on metal values
Want to know when you’ve got enough to turn a profit? The best way to do this is to keep an eye on the market price for industrial metals on a site like Kitco. Although these don’t reflect scrap metal prices, or what you will be paid for lower grade or dirty materials, they can give you an idea of the current market value of the scrap you’ve collected, and can be used as a bargaining tool.
Once you’ve collected enough metal to make some money, bring your scrap to Metal Men Recycling. As Melbourne’s premier scrap metal buyers, we’ll offer you a fair price for your metal. To learn more about our services, please don’t hesitate to get in touch with us by calling 03 5941 6677.
