Know the Worth of the Metal You’re Recycling
Arm Yourself with the Knowledge that will Ensure You Get a Fair Price
If you have scrap left over from a job, you may have been told you can get a veritable goldmine for it. While that might be true, knowing the going rates, how prices are determined, and what you can really expect to receive can go a long way in ensuring that you aren’t disappointed with your haul.
A number of factors determine price
As you might expect, different metals have different prices based on a number of reasons.
Supply and Demand
Like in anything else, supply and demand dictate prices. A metal in short supply will fetch a better price than those that are common and readily available. Prices are adjusted daily so check with an expert like us at Arrow to see the going rate before going to the scrap yard.
How much you have
This probably goes without saying but the best play is volume so if you’re recycling a small amount of metal, expect a smaller return.
You’re likely to have more negotiating power the more you have, so if you’re expecting to have more copper after the next job, save what you currently have and play the volume game. As a rule, prices go up in the winter and drop in the summer so sometimes it pays – quite literally – to wait.
Get a multiple-bid situation going
Depending on where you live or your proximity to multiple yards, get a price from multiple companies, just as you would if you were pricing out a job.
Remember that the scrap yards are running a business, too
Just because the market dictates pricing doesn’t mean those prices are set in stone. As stated, while a metal in short supply might get you more money, common metals won’t, in some cases the yard may feel they are doing you a favor by taking it off your hands, and they may well be right.
Know the going rate
Arrow Scrap has been helping businesses and consumers know the fair market value of a variety of metals for ages, so to discover the latest prices, go to ArrowScrap.com. You’ll get a good sense of what to expect the next time you head to the scrap yard.