It’s always a bonus to make a few extra dollars by trading in your old metal scrap, but if you want to get serious about turning a profit on a semi regular basis in this way, you need to develop a strategy that extends beyond collecting up your household’s metal waste. This week, we offer a few tips on how you can take your scrap metal selling to the next level and make some serious cash.
Prioritise valuable metals
Whilst that big pile of old iron sheeting you’ve collected together might look like it’s worth a pretty penny, size really doesn’t mean much in the world of scrap metal and you’re probably not going to end up with much more than a ten dollar note for your efforts. Any scrap collector worth their salt knows that the real money lies in hunting down more valuable and less abundant metals like copper and brass. Although these tend to take more work to obtain, they can be worth literally 50 times more than more common metals like aluminium, iron, and stainless steel.
Stay abreast of the latest scrap prices
Just like everything on the market, scrap prices fluctuate and are subject to supply and demand. It’s worth keeping an eye on the current prices in your local area keeping them in mind when you go to trade in so that you can negotiate a fair deal.
Befriend your local tradies
If you want to develop a consistent income stream from selling scrap, then you really need to branch out beyond chance finds and your own household scrap. The best way to do this is by joining forces with local tradesmen such as plumbers, electricians and HVAC technicians who frequently remove scrap metal as part of their job. Construction companies and medical care service centres like retirement homes, assisted living centres, medical clinics and doctor’s offices also have an abundance of scrap metal that you could offer to take remove for free.
Understand metal grading systems
Most types of metal you come across fall into different grades depending on their purity, and whether or not the buyer is going to have to treat them in any way in order to return the metal to a useable state. Reading up on the different grades of metal and their relative values can help you be more discerning about the places you go to look for metal and what you choose to collect.
If you’re committed to the idea of earning cash for scrap metal, then it’s well worth choosing metal men as your go-to scrap buyers. We accept all kinds of scrap metal and promise fair and competitive prices.