Selling scrap metal is easy. Getting the absolute best price possible for the scrap you’ve been collecting, however, can be tricky if you don’t know what you’re doing. Knowing what to sell, when to sell it and what steps you can take to boost your scrap’s value takes time and experience; but it’s gaining that kind of knowledge that will make your scrap dealings much more profitable.
Here are just a few tips Alton Materials has on the subject of how to go about selling scrap metal for smaller scrap dealers.
Keep careful track of what you have
Scrap metal has a way of piling up rather quickly. Take the time to carefully inventory what’s coming in your scrapyard and, if you have the ability, try to keep scrap sorted in a way that will aid you in any future assessment when you’re ready to sell. Knowing exactly what kinds of scrap metal you have on hand can be an excellent bargaining tool.
The waiting is the hardest part
Just like any other market, the value of metal fluctuates depending on things like exports, imports, availability and even the weather. It can be tough to get a handle on what’s happening in the metal market on a day-to-day basis, and even tougher to figure out how long to wait before selling your materials for the best possible price.
Luckily, there are plenty of resources available to the scrapper just starting out. Subscribing to websites like American Metal Market and Scrap Price Bulletin can help keep you informed on scrap pricing, as well as provide valuable insights into future prices. Watch these lists carefully and keep track of the ups and downs associated with your types of metals. Staying knowledgable on current pricing and future trends can help you comparison shop when you’re ready to sell.
Don’t wait too long, though
In the stock market, many will hold on to their stock for a very long time, hoping to sell at the highest price point. The metal market isn’t much different. Stock, however, doesn’t degrade due to constant exposure to the elements, a factor that can sometimes make timing the sale of scrap very difficult.
Depending on the type of scrap and how it’s been stored, it could be losing value every day due damage and grime brought on by weather conditions. Because the quality and condition of materials plays heavily into an assessment, it’s best not to wait too long before selling your scrap. Use your best judgment before missing a great opportunity.
When the price is right, keep it local
Once you’ve decided it’s time to offload the mountain of metal you’ve been sitting on, reach out to the scrap metal recyclers nearest your yard for an assessment of the scrap you have. A quality recycler will be more than happy to come out to your yard, look over your materials, and give you a rough estimate of its value.
There are also a number of helpful services a scrap metal recycler can offer that you might consider. Letting them handle the bundling, sorting, and transportation of the scrap from your scrapyard will not only save you time and labor, it may also help inflate the value once it’s brokered. Discuss your options before you sell to find out what’s best for your business.
Small scrapyards, huge potential
Scrapyards come in all shapes and sizes, but the work they do for their local communities and the environment is just as important as any large scrap recycling company. By working together and forging strong relationships, scrap dealers of every size can thrive in this industry.
If you’ve got a mountain of scrap metal you’ve been sitting on, contact us by phone or email, and let’s talk about how we can help you get the most value for your scrap.