Scrap metal prices depend on a number of factors which include supply and demand, economics, COMEX and LME. They also change on a daily basis due to these factors. The type of metals you are dealing with also plays a role in the pricing. Non-ferrous metals include aluminum, copper and bronze and ferrous metals include steel, iron and HMS. You will also find nickel alloys including inconel, stainless steel, titanium and others. Depending on which type of metals you deal in, the prices will either be high or low.

Tips to get the best price for scrap metals

With so many different ferrous and non-ferrous scrap metals, it is important for you to know how to properly price your scrap metals. Simply playing the guessing game on what type of metal scraps you have will not help you in getting their true value. Here are a few tips that can help you the best scrap metal prices:

  • Gain knowledge about metals: It is important that you get to know the different types of metal that are available. The easiest and quickest way to do this is to conduct a thorough study through online sources. This will help you in making sure that you know the value of the scrap metals you have collected.

  • Use metal analyzers: There are portable tools that are used for the identification of unknown metals quickly and accurately. For example, you can use XRF (x-ray fluorescence) analyzers to give you accurate measurements of impurities in your scrap metal collection and what is great about them is that they can be carried easily to any location you need to go to. You should invest in the best tool that suits your budget to make the best use of such instruments.

  • Ensure that your scraps are saleable: Before you sell your collection of scrap metals, you need to make 100% certain that you can them properly. Many scrap metal buyers will not accept scraps that are corroded and dirty. Ensuring that your scrap metals are saleable will have a positive impact on the scrap metal prices you get.

  • Know the market: It is important for you to know what is going on in the world of scrap metal trading to make sure that you get the best prices. You should keep yourself updated on all the ins and outs of the scrap metal trade and pricing. You can check out websites that provide news, reports and editorials about scrap metals.

There are many effective ways to make sure that you get the best scrap metal prices from companies that buy the scrap from you. You should always make sure that you know as much about scrap metals and their pricing as the people you deal with. This way, you not only get the best prices but also great profit with every sale. Selling scrap metal allows you not only to make money, but also do our beautiful planet a world of good by recycling metals that are no longer in use!