For all those aspiring scrap metal collectors, and people who have ventured into the business of scrap metal dealership out there, this is one industry that lets you make money with things that are considered as waste or trash.
Without, or with minimal investment, one can easily start a scrap metal dealership business and make money. Regardless of whether you choose to do it to make some additional money or as a full time profession, this job will reap you financial benefits, apart from offering you a sense of contentment of contributing something to the society.
As we can see, the number of trash, be it junk, garbage or the most recent e-waste, is on the rice. A full-fledged system to deal with junk like this is yet to be formulated and implemented. At this time, if there is someone who is, in his own possible way, contributing to the welfare of the society, it is a scrap metal dealer or collector. So, those who have ventured into this realm to make a living out of waste, here are some basic tips on how to sell scrap metals for the best price. Check them out below.
Selling Scrap Metals
Before you begin looking out for scrap metal yards or salvage yards for selling your scrap metals, remember that most of the scrap yards out there purchase scrap metals depending on weight. So, it will be pointless if you carry individual or less quantities of scrap metals. Before you approach them to sell your scrap metals, or even before you ask the scrap yard people ‘what is the price of scrap metal’ you have to know there are some procedures involved in selling your scrap metals. Initially, the weight of the scrap metal that you bring in is weighed, after which you are asked to move to the discharge pile. Depending on the volume of scrap metal that you bring, you will be asked either to manually unload them or use an excavator to do the unloading. The magnet powered excavator can make things easier in unloading the load; however, a minor error in handling the excavator can cause serious damage to the load or to the vehicle that you get.
Once the unloading is done, you will be required to go to another weighing scale where the load will be measured again. Once the weighing is done, you will be given payment depending on the policies of the scrap yard. Depending on the time of the day and week, this procedure can take any time between one hour to 3 hours.
Scrap Metal Types and their Prices
Another thing that scrap metal dealers and collectors have to remember when it comes to selling their scrap metals is that the metals are priced depending on their types. This means that the price of steel scrap will be different from scrap brass price; and in turn the brass recycling price will be different from the prices of scrap aluminium.
In general, scrap metals are classified into two types – ferrous and non-ferrous. Ferrous metals are those that contain iron or alloys of iron such as stainless steel. They are found in majority of the metals and are priced accordingly. The non-ferrous metals are composed of metals like copper, lead, aluminium, lead, tin, nickel, and others. This attracts a different price from those of steel scrap.
In order to learn about the trending prices in the market, and to ensure you don’t get cheated by those numerous scrap yards existing, it is advised that you access some information about the scrap metal prices online. Though word-of-mouth referrals and direct approach methods are proven working, there are several reliable websites online that give precise or close to authentic prices of scrap metals that prevail in the market. A glance of them before hitting the scrap yard will be suffice to keep getting cheated at bay.
As far as the payment for the scrap metals is concerned, payments are made by scrap yards through ATM cards for ferrous metals; and for non-ferrous metals, scrap yards issue a check within two business days.
One can indeed make a living out of selling scrap metals. All that he needs to have is patience and perseverance. So, try being patient, collect scrap metals, compile, sell them and make way for cash inflow. Hope this was useful.