Wondering How to Make Money Scrapping or Recycling Metal?
The value of recycling and reusing products and materials such as plastic, paper, cardboard, and even clothing is commonly understood in communities. People in the community collaborate to reduce the amount of waste that ends up in landfills while also conserving energy by repurposing existing materials to create new ones.
Scrap metal recycling is a less well-known but equally integral part of the recycling industry. It can be a profitable side hustle as well.
As a leader in the scrap metal industry, our team wants to share some of our best knowledge about how to make money scrapping and recycling scrap metals.
The Ultimate Guide to Make Money Recycling Scrap Metal
One of the best ways to generate passive income is by recycling scrap metal. However, because of a lack of information and access to resources, metal materials usually wind up in the garbage can. To sustain a healthy functioning community, everyone must uphold their responsibility to keep the environment clean. Below we’ll discuss how to profit while doing so.
Recycling Scrap Metal as a Form of Passive Income
- Within the last five years, passive income has grown in popularity, essentially making these kinds of jobs and gigs a major part of the future economy. Passive income can be generated in several ways.
- Some people discover a niche that they enjoy or that is convenient for them. It can sometimes lead to an income that brings in more than their full-time job.
- Other people prefer to use passive income strategies like a part-time business or a hobby instead of devoting all their time and effort to a side hustle that does not provide the passive income they expected.
Making money with scrap metal can be a great investment. However, many people misunderstand how to make money with scrap metal, finding it challenging to turn a profit.
The task consists of taking scrap metal to local recycling centers. These scrap yards will compensate the scrap metal based on the amount and type of metal brought in.
Seems simple enough. Right?
Even if the process is simple, it can be difficult for some people to secure a steady stream of income. Attempting to recycle scrap metal requires diligence, time, and some legwork. Some people become easily discouraged when their efforts fail to produce a worthwhile and profitable outcome.
Often, the primary problem stems from a lack of knowledge about recycling scrap metal and local regulations.
Additionally, recycling facilities may be subject to regulations that vary by state, city, and county. It is important to be familiar with the local laws and regulations regarding scrap metal recycling.
How to Make Money Recycling Metal
The most appealing aspect of scrap metal recycling is the investing cost. Or rather, the lack of it. The largest expense is the time spent searching for and finding free scrap metal. Scrap metal is available if one knows where to look for it, knows where and who pays well to recycle scrap metal, knows what kind of scrap metal is the most lucrative, and whether it is for them.
Where to Find Scrap Metal
Scrap metal can be found and acquired in several different ways. Below are some of the most popular places to find free or low-priced scrap metal:
In Your Home
Several common household items can be found in one’s own home. Many items from frying pans to the kitchen sink they are washed in can be sold for the value of their metal.
Other household items used to recycle scrap metal include:
- Old car parts
- Door locks and door hinges
- Common trophies
- Bedsprings and wires
- Old jewelry
- Lamp parts
- Washers and Dryers
- Old tools
- Computer parts
- Electrical components and parts
- Plumbing fixtures
- Cooking accessories
- BBQ pits
Many people post ads on Craigslist to get rid of old appliances and similar metal products. The old saying rings true “One person’s trash is another person’s treasure.” There are various reasons people give away these items instead of profiting from them. They may lack the knowledge of scrap metal recycling, or perhaps they don’t have the proper equipment necessary to transport them to a recycling center or junkyard.
Private individuals and local businesses who advertise these items on Craigslist may occasionally offer free hauling. This is ideal for those who are unable to transport large appliances like refrigerators, stoves, and ovens. Some businesses may charge a small fee, but the fee will more than cover itself once the items are recycled.
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Local Businesses and Manufacturers
Some local manufacturers may offer low-cost or even free metal scrap that they no longer need. Many scrap metal recyclers arrive at these facilities without an appointment to find that the manufacturer has no old scrap metal to offer. It is preferable to contact the manufacturers ahead of time.
Calling ahead not only allows the manufacturer to check their recyclable inventory, but it also helps them to prepare a larger amount of available scrap metal, leading to higher potential profit.
This method is more effective for larger manufacturers than for smaller manufacturers because larger manufacturers are more likely to have an efficient recycling procedure in place.
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Best Scrap Metals to Recycle to Make More Money
Metals are classified into two types: Ferrous and Non-ferrous. The primary difference between the two metals is that ferrous metals contain iron (“FE”). The most convenient way to determine whether the metal is ferrous is by using a magnet.
If the metal sticks or binds to the magnet, it is a ferrous metal. Non-ferrous scrap metals bring in more profit than ferrous metals. Some examples of non-ferrous metals include copper, lead, brass, and aluminum.
Listed below are some examples of the best metals to recycle for maximum profit:
- Copper: Many kinds of pipes including plumbing and water supply systems; wires, switches, and circuits; old refrigerator parts; air conditioning units; and electromagnetics.
The national average pay for copper is $3.27 per pound.
- Brass: Sinks, faucets, lamps and lamp parts, light fixtures, bullet casings, and door handles.
The national average pay for brass is $1.75 per pound.
- Stainless Steel:<span style=”font-weight: 400;”> Several kitchen appliances; automobiles; cutlery; medical equipment; aerospace equipment or technology; and edifice structure.
The national average pay for stainless steel is $0.64 cents per pound.
- Aluminum: Window frames; automobiles including trucks, motorcycles, and bicycles, edifice structure, aircraft; watercraft; trains; and empty soft drink and beer cans.
The national average pay for aluminum is $0.59 cents per pound.
Recommended Equipment to Recycle Scrap Metal
- Anyone who decides they would like to attempt making money from recycling scrap metal a full-time endeavor should consider investing in the proper equipment.
- A magnet helps differentiate between ferrous and nonferrous metals. A scale will help to keep track of the amount of metal obtained so that an estimate can be calculated. Always weigh metals before bringing them to the recycling center.
- It’s easier to recycle large automotive parts, machinery, or large appliances or equipment with a truck with a trailer. A car with a trailer attached to it may also be used.
- A dolly will come in handy, figuratively speaking, as it can haul heavy equipment much easier and safer.
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Make Money Scrapping Metal Today
Recycling facilities sometimes charge different rates per pound, so it is important to evaluate the price to obtain the most profitable deal. Begin making money today by scrapping metal. Contact the local metal recycling centers in the nearest location for more information.
Other Valuable Resources
- Best Time for Your Trip to the Scrap Yard
- Top 25 Most Common Scrap Metals
- Scrapping: The Perfect Side Hustle For Extra Cash