How To Estimate How Much Your Scrap Metal Is Worth

Scrap Aluminium

The collection and sale of scrap metal can be quite a lucrative business, providing that you pay careful attention to the proper details. Scrap prices are known to fluctuate on a weekly or even a daily basis (due to a number of different factors), and it is important that you keep an eye on these fluctuations if you want to get a good idea of what your metal is worth.

To begin with, you will need to ensure that you have separated your scrap into its relevant types. The reason for this is that each metal will have a different worth, and it is easier to work out how much you will make if you do each type separately.

Scrap Copper

You will then need to begin developing good relationships with the scrap metal dealers in your area. Prices can fluctuate depending on who you are dealing with, so it always pays to compare the prices offered by a few local dealers and going with the one who offers you the most. By developing a good relationship with this person, you will have an ‘in’ whenever you want to know how much aluminium or copper is going for.

You could also try visiting your local recycling centre or doing some research online to see what other people are currently paying for scrap. You might be able to get your hands on a scrap metal pricing chart, which could be invaluable for determining the best times to sell.

At the end of the day, the worth of your scrap metal will differ depending on the time of year, month and even week that you are trying to sell it. Once you have been buying and selling for a while, however, you will begin to become familiar with the trends in pricing, as well as developing an instinct for when you should sell and when you should hold onto your metal for a little longer.