12 Things You Need to Know About Scrap Yards
Don’t be fooled by the stacked up discarded cars or appliances, bustling workers and busy forklifts, the humbling setting of a scrap yard rakes in billions of dollars every year in the United States alone. It is much cheaper for companies to create new metals from scrap than to extract it from the ores. Scrap yards make it possible and help to facilitate this process.
Scrap yards play a critical role.
Scrap yards are a reliable funnel that collects, sorts and sells scrap metal to refiners. Refiners only buy scrap metal in bulk and so, scrap yards collect in small quantities to sell at competitive prices.
You’re not the customer.
You may find this weird, but you are not the customer but the supplier to scrap yards! Refiners are their customers, and so don’t be surprised if the workers at the scrap yard don’t treat you like the merchandise seller at the mall.
It’s a stock market for scrap metal.
As scrap metal prices fluctuate on a daily basis, scrap yards buy low and sell high. The scrap metal prices are updated on the stock market every day. So the scrap yards buy your scrap according to the market price. Albeit, they always pay lesser than what they wish to sell to refiners.
They may sell salvaged items for reuse.
You will be surprised to find treasures in scrap yards. Parts of appliances such as a washing machine drum or reusable car parts like seats, doors, or engines are great finds. Some yards will allow you to bring your tools and take what you need.
A magnet will value your scrap.
Metals are put under a magnet first. The metals that are attracted to the magnet are categorized as ferrous metals. Those that don’t stick to the magnet are non-ferrous metals such as gold, copper, aluminum, steel. Non-ferrous metals are more valuable when being sold or purchased.
You need to sort your scrap.
Scrap yards have notorious ways to make sure they pay you lesser than what your junk is worth. One way is to bundle everything and pay you a flat price. Be proactive and sort your scrap into different metal categories to get the most value.
Check current prices before you go to the scrap yard.
It is always good to speak with different scrap yards near you to see who is offering the best price for your scrap. But don’t be surprised to find different pricing if you go on a different day from the time you first checked the prices with the scrap yard. Scrap metal prices change daily.
Pick a good scrap yard to make more money.
This may seem obvious, but don’t zero in on a scrap yard that offers you the best price alone. Some scammers would give you an estimate just to reel you in. Find a good scrap yard through a reference or research to make more money in the long run.
“How much do you have” is the first question.
When you call the scrap yards to check for prices, this is what they are interested to know first. Remember, you will always get better prices for a larger quantity of scrap metal, and so will they. So save your scrap until you have more than enough and then sell.
Prepping metal will get you more money.
The workers at the scrap yard and those behind in line with you will not be happy to see the unsorted scrap you dragged in. For instance, if you have copper wires, strip them to ensure there are no iron or steel bits within. The pure copper will not stick to the magnets that dealers use and so, you have a better chance to get more money.
Pick out items for your DIY projects.
Consider the old adage “one man’s waste is another man’s treasure” to be true for the treasures you’d find at most scrap yards.
Negotiate better pricing with past performance.
Scrap yards save your account and order information on their systems. If you are a frequent supplier of scrap metals, you can get a weekly, monthly quarterly statement reports. Use these reports to politely ask for a better price for your scrap. Even if they refuse, you can always use the report to negotiate prices with other dealers in your area.
Donating scrap is an excellent way to save money while helping to conserve the earth’s resources. Consider these things when looking to donate your scrap and recycling will continually be both enjoyable and profitable for you.