You may not know it, but there are actually people in America today who make a decent living buying and selling scrap metal. These individuals collect scrap metal from around their communities and sell it to scrap metal companies that recycle the metal into steel, making big profits in the long run. Whether you’re an individual or a small business, you can actually learn to make some money by selling your scrap metal to the appropriate companies.
Why is scrap metal lucrative?
Ironically, in a tough economy, the amount of money you can get for scrap metal actually goes up. This is because companies looking to lower production costs can do so dramatically by using recycled metal instead of raw materials to make steel. Not only are recycled materials cheaper than raw materials, but recycling metal also takes about 74% less energy, according to RecycleMetal.org.
How much can you make from metal?
The amount of money you can make from recycling scrap metal depends on what type of metal you recycle and where you recycle it. However, you can rest assured that prices are definitely going up! According to a recent article in the Chicago Daily Herald, a ton of iron sells for $300 to $400 these days, as opposed to about $50 to $100 five years ago. Copper sells for about $4 per pound now, whereas it used to sell for about $.80 a pound. These jumps in metal prices are seen all across the industry, as recycled metal is in higher demand.
Where can you get scrap metal?
Scrap metal can come from just about anywhere. Some families get a little extra cash simply by saving their aluminum cans to sell rather than recycling them through regular routes. Other people pick up scraps from construction sites. Professional recycling companies can also get scrap metal from appliances and electronics, though it’s not recommended that you try this option at home!
If you don’t get the money, who does?
If you don’t need the extra money from recycling scrap metals, go ahead and recycle them locally. Your local recycling company or municipal recycling center will probably turn a profit on all the metals that you recycle, since they’ll process and sell them much like an individual scrap metal seller would. You can help keep your local recycling company going by recycling as much metal as possible from your home or business.
How to safely recycle metal
If you want to sell your scrap metal, you might need to do some digging to find a company near you that will buy the metal. However, if you just want to recycle it, it’s easy to find a place to do so. Check out Earth911.com for a local search that will let you figure out where to recycle metal scraps near you. If you live in or near the San Diego area, check out Recycle San Diego for recycling metals that are in your electronics, specifically!