We’ve all seen people at the grocery store bring bottles and cans to the recycle bin and get their money back. But what most people don’t know is that you can get paid for other types of recyclable materials – like scrap metal. You might be surprised to hear that the scrap metal industry is lucrative.
How Do You Get Paid For Scrap Metal?
It can be difficult to navigate, especially if you’re new to the game. An entire ecosystem of businesses makes money from recycling scrap metal, and it can be hard to understand how you fit into the puzzle.
This blog post will discuss how to get paid for scrap metal and what to expect along the way. So, whether you want to sell some old metals from around the house or run a scrap metal business, read on for tips and advice!
Collecting Money For Metal
The first step in getting paid for scrap metal is collecting it! So, what qualifies as scrap metal? In short, any metal that can be recycled and reused is considered scrap metal. That includes everything from used appliances to old car parts. It doesn’t have to be a concrete object, either – metal shavings, for example, can be recycled.
The only exception is radioactive materials, which most recycling facilities do not accept.
There are a few different ways to go about collecting scrap metal. Start by looking around your house for old metal objects you no longer need or use. It could be anything from an old toaster oven to a broken bicycle.
Once you’ve collected all the metals you can find at home, scour garage sales, flea markets, and second-hand stores for more. Keep your eyes peeled for anything made of metal – you never know what you might find!
Of course, if you’re serious about making money from scrap metal, you’ll need to collect more than just a few items from around the house. You’ll need to source materials from businesses as well. The best way to do this is to build relationships with local contractors, manufacturers, and other companies that deal with metals.
These businesses generate a lot of scrap metal regularly, and they’ll be happy to get rid of it if you’re willing to take it off their hands. In some cases, they might even pay you to haul it away!
Sorting the Materials
Next, you’ll need to sort your scrap metal by type. Most facilities will not accept a mix of different metals, as they must be recycled using other processes. The most common types of scrap metal are ferrous and non-ferrous. The most significant difference between them is that ferrous metals contain iron. That makes them magnetic. As you can guess, non-ferrous metals lack iron and magnetic properties.
Some common examples of ferrous metals include:
- Steel: Perhaps the most common type of ferrous metal, steel is used in countless applications. It’s often found in construction materials, car parts, and appliances.
- Cast iron: This type of iron is often used in manufacturing. It has a lower carbon content than steel, making it more brittle.
- Alloys: Alloys are metals that are made by combining two or more chemical elements. Many alloys contain iron, including stainless steel and tool steel.
Some common examples of non-ferrous metals include:
- Aluminum: This lightweight metal is often used in packaging, construction, and electrical applications.
- Copper: One of the most valuable scrap metals, copper is often used in electrical wiring and plumbing. You’ll recognize it by its reddish color.
- Brass: An alloy of copper and zinc, brass has various applications – from musical instruments to door hardware.
- Lead: A heavy metal often used in batteries and shields against radiation; lead can be dangerous if not handled properly.
A simple way to sort your scrap metal is to use a magnet. If the magnet sticks to the metal, it’s ferrous; if not, it’s non-ferrous. Once you’ve sorted your metals, you can take them to a recycling facility!
Find A Local Scrap Yard
Scrap yards are a popular business model, so you will likely have a few options in your area. With that said, not all scrap yards are created equal. Researching and finding a reputable facility that will give you a fair price for your materials is essential.
The best way to find a good scrap yard is to use the iScrap App. This app allows you to search for local scrap yards and get real-time prices for the materials they buy. Enter your zip code or city and state to get started.
Our interactive map makes finding and comparing scrap yards near you easy. You can also read reviews of scrap yards in your area to better understand which ones are worth your time. As of now, iScrap is available in Canada and the United States.
Next to some establishments, you’ll see the words ‘Premium Yard.’ The scrap yard is part of our exclusive network of top-rated facilities. Our team has carefully vetted these yards and is known for their fair prices and excellent customer service. We only work with the best of the best, so you can be confident that you’re getting a good deal.
On each yard’s page, you’ll find information about what materials they accept, their opening hours, and contact details. The directions function will help you plan the quickest route to the scrap yard! Some scrap yards offer pick-up services, so check that out before making the trip.
Checking Scrap Prices
Finally, it’s time to get paid! Before you head to the scrap yard, it’s a good idea to check the prices for the materials you’re selling. After weighing your metal or materials, most scrap yards will pay you by the pound. Prices can vary depending on market conditions, so staying up-to-date is always a good idea.
Some scrap yards might try to lowball you if they think you’re inexperienced. By checking the prices beforehand, you’ll know what a fair price is and can negotiate accordingly. The iScrap App website and app are great resources for checking real-time scrap prices. You’ll see any movement in the market.
We’ll give you an example if you’re wondering how much you get for metal scrap. Copper tubing is currently on the rise, fetching $2.48 per pound. This is good news for anyone with copper to sell!
Prices can also vary depending on the type of metal you’re selling. Ferrous metals are typically worth less than non-ferrous metals, as they’re more common and not as valuable. However, this isn’t always the case – sometimes, a specific type of ferrous metal might be in high demand, making it worth more than a non-ferrous metal.
With the iScrap App, you can effortlessly search for specific types of scrap metal prices. Enter the name of the material you want to check the price for, and you’ll see the current average price per pound.
Reporting scrap prices
After you’ve sold your scrap metal, you can use the iScrap App to report the prices you were paid. This is a great way to keep track of your earnings and see how much money you make from recycling. It’s also useful for other users, as it helps them understand what they can expect to earn from recycling in their area.
Search for the scrap yard you sold to and select the “Report a Price” button to report a price. Then, enter the date, weight, and price you were paid. That’s it! Your price will be added to the iScrap App database, where other users can see it.
The Benefits of Recycling Scrap Metal
Recycling scrap metal is a great way to make some extra money. But it’s not just good for your wallet but also the environment. When you recycle scrap metal, you’re keeping it out of landfills. It is vital as landfills are already overflowing with waste.
Plus, recycling scrap metal takes far less energy than mining for new metals. That’s good news for the planet, as it helps to reduce our carbon footprint. So, not only can you make money from recycling scrap metal – but you can also feel good about doing your part to help the environment.
It also gives new life to old products. If you loved your car before it broke down, recycling its parts can help it live on in another form. And who knows – maybe the person who buys your recycled scrap metal will use it to make something unique!
Scrap yards are a great way to make extra money by recycling scrap metal. But before you head to the scrap yard, you must do your research, which includes checking prices and reading reviews of local scrap yards.
The iScrap community is an excellent resource for all things scrap metal. We even have a metal guide to help you identify different types of metal. We also have an extensive directory of scrap yards where you can find the nearest one to you.
What are you waiting for? Download iScrap today and start recycling scrap metal!