Top 5 Mistakes to Avoid When Scrapping Metal
You know what you pay for new metal, but sometimes when you’re scrapping metal, it seems like there’s a secret to getting the best prices.
How can you ensure you get the best prices for your metals? Here are some basic mistakes to avoid when selling your scrap metal:
Dealing with shady scrap metal companies:
It doesn’t matter whether a scrap yard has a bad reputation because of offering poor prices, using bad scales, having things disappear from a client when picking up scrap or don’t have worker’s comp for their employees, a bad scrap metal company should be avoided at all costs. Even if they can offer a slightly higher price at the beginning, it’s not worth the hassle if tools go missing, a lawsuit is filed or bad practices make your metals recovery check disappear.
Not understanding metal grades:
Scrap companies will pay different rates for different grades of metal. A little education goes a long way when you know you’ve got copper, but aren’t sure if it’s #1 bare bright wire, #2 copper tubing or #3 roofing copper.
Not knowing current market prices:
Is copper up or down this week? What about steel or aluminum? Much like a used car lot, if you don’t know the value of what you have, you can’t negotiate for a better price. You wouldn’t trade your pristine, low-mileage 2011 Dodge Ram for $500; don’t’ sell your copper for pennies on the pound because you haven’t followed the current market rates.
Not sorting your metals:
If you haven’t sorted your metals, you can expect to be paid for the cheapest metal in your load. Don’t expect to do it at the scrap yard, either; many companies won’t let you take up their space to do so. Sort your metals ahead of time to get the best possible pricing.
Not preparing your metals:
Did you know that #1 bare bright wire often sells for three times the price of insulated wire? By properly preparing your metals, you’ll save storage space and receive a much higher price per pound. Why the big difference? If the scrap company doesn’t have to prepare it, it saves them time and labor costs.r
If you need a company who is willing to help you learn as you go, please contact us! We offer reliable service, trustworthy practices and fair prices.