If you’re like many people, you have some scrap metal sitting in your basement or garage. However, you might not know how to go about selling it. Here are some tips that can help you get started and make a nice profit.
Because different metals command different prices, avoid having all your metal weighed together and getting a lump sum. Many times, that lump sum will be based on the least expensive metal you have. Separate out your metals so that you can maximize your profit. Use different buckets for each metal and label them so that when you head to the scrap yard, you are organized.
If you are just getting started selling metal, you may not yet know how to differentiate one metal from another. For instance, you may not be sure if you have aluminum or steel. One way to know for sure is to use a magnet and see what is attracted to it. Most types of steel will stick to a magnet; aluminum will not.
Before you walk into any scrap yard, it’s a good idea to have some idea of what you might be able to earn. Get on the internet and research the stock market to see how much different metals are being bought and sold for. Market prices are just a guide, as different scrap yards and buyers will try to sell at a little less so they can make a profit themselves. Call a few scrap yards and buyers in the area to get a clearer idea of what you can expect when you walk in with your metal.
Metal can have sharp edges and can cause injury to your skin. Not only that, but metal can accumulate rust over time, and if rust infiltrates any cuts you may have, you might end up with an infection. The bacteria that causes tetanus might also be living on rust.
Therefore, to protect yourself, make sure you are safe when handling metal and take the proper precautions. When handling scrap metal, use rubber gloves or gloves made of some other thick material. If you don’t use gloves when you touch metal, wash your hands carefully and thoroughly. You might even consider wearing goggles.
Use the information laid out above to help you start selling scrap metal. Consult local scrap yards to learn more about what you can do to collect more metal and make more money.