If you want to get a little extra money from scrap metal, then you will want to get the best price (and a place like Freedom Metals LLC is a great place to start). The metals you recycle are commodities and knowing how the system works will help you get more money. Sometimes it is worth waiting before you recycle. It is also important to know your metals and the difference in values. Here are some tips that will help you get the most money for the materials you recycle:
1. Stay Up to Date with Metal Markets and Setup News Alerts
The commodities markets are what dictate the prices of metal. Knowing how the markets are can tell you when it the best time to sell materials. Set up alerts for metal news to come into your email inbox when major events effect metal prices. You can also signup for newsletters from different commodities markets and metal industry businesses.
2. Hold on to Metal When Issues Cause Markets and Metal Prices to Fluctuate
The trick to getting more for metal is like playing the stock market; you have to know when it is the best time to buy and when to sell. When the price of metal is low, you will want to hold onto your scrap and wait for it to go up. Look at market trends of metals to see if the metal has consistently been going down or if a major event is temporarily causing the price to fluctuate. If the price of a certain metal has temporarily gone up but is expected to go down, then it may be a good time to sell.
3. Know Your Metals and Separate Them Accordingly Before Your Recycle Them
It is also important to know your metals and the different between ferrous and non-ferrous metals. The non-ferrous metals are not magnetic and usually worth more. In addition, because of the demands of different industries, some metals like copper and aluminum are worth a lot more.
4. Check with Scrap Metal Services to Get the Current Prices They Are Paying
Scrap metal services offer different prices for raw materials, such as copper from wiring, plumbing and electrical motors. The scrap metals have different percentages of copper in them and the purest will be the most valuable. This is the same for metals like aluminum, which is different in things like metal siding and wheels from cars. The prices that scrap services offer also change with the demand of the open markets; the scrap service price will be less than what the current market price is.
5. Save On Gas and Get More Cash by Taking Bulk Loads to Scrap Metal Services
If you collected a lot of metal and have it stored somewhere, cut down on gas costs by taking the maximum load you can haul to the recycling center. Taking one load will save on gas and get you more cash because you will be carrying more weight. If you have a pickup and a trailer, you can them to separate steel and metal like aluminum for weighing.
Taking a little extra time and getting all the right information will help you gain more benefits from your recycling efforts. Contact a scrap metal service to help get the most out of your metals.Share