Recycling is a concept that a lot of people are familiar with. Metal is one of the earliest materials recycled, melted and reused for new purposes. It is a highly flexible material. Right now, over 45% of the world’s steel and 40% of the world’s copper production come from recycled sources. This is why selling scrap for cash is a profitable business.
Many people forget that they have metals in the various appliances and items they dump into the garbage bin. Steel casings, brass fixtures, and copper wiring can be found in electronic gadgets and household items that end up in the trash heap. Old refrigerators and air conditioners are also prime sources of scrap metal. People are often either ignorant of or simply uninterested in the presence of these metals. They need to learn more about the scrap metal industry to be able to earn profit from unused metal items.
The Process
The first step when planning to sell scrap metal is a magnet test. Placing a single magnet on the metal that you’re selling helps determine what type you will be selling. If the magnet sticks, then your metal is a ferrous type, either steel or iron. Ferrous metals are common and often only earn a little profit. It can still be properly recycled and that is a good contribution to environmental efforts.
When the magnet doesn’t stick, then you have a non-ferrous metal on your hands. Copper, aluminium, brass, and other important metals are non-ferrous, and you can get a better price for these items. These metals are also better because they do not degrade during the recycling process, meaning they can be recycled an infinite number of times.
Different Metals, Different Values
Well-known scrap metal buyers like Global Resources International Pty Ltd purchases all sorts of metal, and they assign different prices to each kind. Steel, for example, is one of the most common metals around–you can find it in cars, appliances, and buildings—and commands a relatively lower price. The only way you can make a bigger profit out of selling steel scrap is to sell it by the ton.
If you want to earn serious money with scrap metal, the best types to dispose of are copper and brass. Copper is used for electrical wiring, while brass is used for plumbing. Both are important to a country’s development and highly useful in utilities.
Recycling metals ensures that less raw ore is needed to be mined, lowering the energy consumption for creating them. This helps the environment greatly, and can benefit you as well if you are smart enough to sell your scrap to the right people or company.
Source:
The Basics of Recycling Scrap Metal for Money, Earth911
The Benefits of Metal Recycling: Why Recycle Metal?, About.com