Even though industrial scrap metal may not look like much, there are plenty of buyers that will give sellers actual cash for these pieces. Thus, scrapping industrial metal can prove to be a lucrative activity. If this is your first time doing it, these tips can help you get started on the right path.
Invest in a Magnet
There are a lot of items that you can use to find industrial scrap metal, but one of the most useful is a magnet. Such a tool can help in many ways. First and foremost, the magnet helps you distinguish ferrous materials from non-ferrous materials.
You'll typically be able to get much money for ferrous materials because they have a more dense and durable nature. There are also magnet devices that are strong and have a long reach, which enables you to pick up scrap metal without having to bend over and hurt your back.
Separate Different Metals
If you're looking to get the most amount of money for the industrial scrap metal that you worked hard to find, then be sure to keep these materials separated. After all, aluminum materials will have a different value compared to steel.
By separating your materials, you can price each variety accurately and then get as much money as possible at the end of the sale. Separating industrial scrap metal isn't even that hard. Just get large barrels and then label them based on the type of metal you have in your collection. It's that easy.
Compare Offers From Buyers
If there are multiple buyers you could probably sell your industrial scrap metal to, such as dump yards and independent buyers, then you'll want to vet their offers carefully. Only then will you come away with the most amount of money.
The best way to approach this price analysis is to take pictures of your inventory and then describe what metal varieties you have. You can then send this information over to each buyer and see what offer they'll make you. Just go with a buyer that gives you the best deal.
Scrapping industrial metal can be a lucrative side hustle and potentially a business if you play your cards right. If you're just starting out, make sure you invest in the right scrapping tools and that you know how to prepare your materials once you find them. These precautions will lead to smoother and more rewarding transactions.
To learn more, contact an industrial scrap metal recycling company.