Five Things To Avoid When Scrapping Metal
Whether you simply scrap metal for some extra money on the side or created a profession for yourself with the activity, it is known that metal scrapping can be profitable. Scrap steel materials have been recycled for over 150 years. This process continues to play an important role in the manufacturing industry. When you have extra metal laying around, you could get paid a good buck for the scrap – but only if you know what you are doing.
China remains the country with the highest scrap consumption. In the United States, scrap consumption is reported as 50 million metric tons on an annual basis. People who are new to scrapping metal often make beginner mistakes, which can significantly reduce the profit you gain. We take a look at five of the most important mistakes to avoid.
1. Failure To Prepare The Materials
One thing that many people do not know is that scrap yards pay less for materials that are not prepared. The scrapyard will usually not advise you to do your own preparation, however. When they prepare the materials after the drop-off, then it puts more money into the owner’s pocket. Before you drop off your scrap materials, be sure to prepare them first. This means stripping any copper wire in the stack.
2. Failure To Do Proper Research In The Area
There are many scrap yards in your area. Some of these scrap yards will have a better reputation than others. Simply dropping off your scrap at the first option you see will often lead to a lower price paid for your materials. Do some research in the local area. Contact a few scrap yards. This will help you find a company that can provide you with a better deal on the scrap you want to sell.
3. Failure To Understand Grades
It is crucial to understand how scrap materials are graded. Higher grade options should be coupled with better selling prices, for example. Unfortunately, many people do not understand the grading system. Copper, for example, has five main grades. These include bare bright wire, copper tubing/flashing, copper tubing/wire, roofing copper, and insulated copper wire. Bare bright wire tends to fetch a better price.
4. Not Knowing The Current Prices
If you are not aware of current average prices being paid for materials you want to sell, then how would you know if you are getting a good deal? Make sure you do some research to check the current scrap metal selling prices before you visit a local scrapyard.
5. Failure To Separate Your Materials
Another important thing to avoid is failing to separate the materials before dropping them off. This could cause the scrapyard to quote you on the cheaper material in the stack. Carefully separate the materials and make sure they are weighed and quoted separately.
Conclusion
While scrapping metal can be profitable, making a few common mistakes can cost you. When starting out, be sure to learn more about the industry and consider mistakes that people often make. This ensures you understand when you are not getting full value for your scrap metal.
