In the United States alone, scrap metal recycling is estimated to generate over $26 billion in revenue by 2020. You can earn some of that cash when you recycle scrap metal generated by your business.
There are some types of scrap that are more valuable than others, but recycling scrap metal is always worthwhile. The recycling of old metals dramatically reduces the use of new materials, so it’s a simple way to implement sustainability. It’s also an easy way to make money if you recycle scrap metal.
Scrap metal is separated into ferrous and non-ferrous components
Your scrap metal’s iron content will determine how much you receive. In contrast to non-ferrous metal, ferrous metal is less valuable since it’s made with iron. Iron, steel, and wrought iron are ferrous metals.
Magnets are attracted to ferrous metals because of their iron content. Using a refrigerator magnet, you can determine whether a metal is ferrous. Sorting scrap metal into categories is really easy with this. The recycler may not require you to separate ferrous metal from non-ferrous metal, but we recommend you do it anyway.
The reasons for this are several. If you have a lot of mixed metal, separating your scrap makes things easier for your recycler. Sorting your scrap can also increase its value. If a recycler receives a container of mixed scrap, they’ll typically pay the lowest price for the cheapest metal. If you want to ensure that you get the best price for your non-ferrous metal, segregate it from your ferrous metal.
Recycling Scrap Metal
Metal scrap prices fluctuate according to supply and demand as well as fuel prices. Occasionally, prices change from day to day or even several times in one day. Because of that, it’s difficult to estimate exactly how much you’ll get for your scrap until the day of recycling. Recyclers generally pay the most for three types of scrap metal.
Scrap metals such as aluminum, copper, and brass need to be recycled. Besides metals like steel, cast iron, lead, tin, nickel, and nickel alloys, commercial scrappers accept many other types too. Car bodies or converters can be recycled for a profit. In the case of scrap that is less common, you should ask your recycler for specific guidance.
Whenever you work with us, you can recycle your scrap. You can rely on us to make this process simple and profitable for you. Please don’t hesitate to contact us if you have any questions about scrap metal recycling. Reach out to us today!