Posted by Zoe Geoffrion , on Nov, 2016
Selling scrap metal can earn you a lot of cash but you need to understand the determinants of scrap metal prices. There are four main factors that determine the price;
The type of metal that you are selling – Are you selling copper, Aluminum, brass or copper? Each metal is subdivided into different categories which determine its cost. The categories are not the same for every scrap yard so you need to know how the scrap yard you want to sell your metal to classify the metal.
Where are you selling the metal? Which town or side of the world are you selling the metal at? – If you want to get some good cash for your scrap metal, target areas where there is high competition for the metal. If you sell scrap metal in the rural areas or interior areas, you may not earn that much money.
How much scrap metal are you selling? – Remember that in a normal circumstance, the money you earn is dependent on the amount of metal you sell. This is not always the case so get to know the market strategies before you assume that you will earn a lot just because you have a lot of scrap metal.
What is the cost of the metal once refined? – The cost is called the current spot price. If the refinery is sure of making more money once they refine the metal, they will pay you more cash when you sell scrap metal to them. If you want to get a lot of cash, target when the current spot price is high so that you can be paid a lot for your metal.
With the right information, every business can earn cash. Make sure you have all the right information before engaging in the scrap metal business.
We buy, haul, recycle and process scrap metal of all kinds. Contact us at HC metals,Inc. today for more information.