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Posted on Oct 23, 2015 in Business Tips

Turn scrap metal into real money

Many people don’t realize that every single time they dump old metal items they are actually throwing away good money. The truth is that every metal product is valuable, meaning that you are able to recycle it in exchange for cash. The value of ferrous scrap has risen over the years thanks to the interest manifested by developing nations, like China, in this good. Not only will metal recycling earn you hard cash, but you will also contribute to saving the environment. If you are truly interested in making money, then you should be aware the following facts.

What will you need?

Even if you don’t need a lot to get started, you have to get prepared. You should equip yourself with a magnet, which will be your handy tool. In addition to this, you will need something to store the scraps in. You can use anything from a cardboard box to a barrel or a truck. Nonetheless, you can’t collect scrap without having some basic knowledge about the types of metal. This is necessary to make the distinction between ferrous and nonferrous metals. The first type can contain iron or stainless steel, while the second type contains aluminum, copper, nickel, etc.        

Start digging

Obviously the first step in selling scrap is to actually find metal items. You can begin with the things lying around in the house that you no longer have a use for. For example, Christmas lights or old car parts are worth saving since they can bring you important sums of money. Additionally, you can salvage other items such as steel doors. Scrap is all over the place and if you search hard enough, you will surely find something. When the garage search is without results, then you can go door to door and take old appliances off the hands of your neighbours.

Sort your findings

Organising your findings is equally important because you will receive that much money if your load is clearly separated. Taking into consideration that you don’t want all your scrap mixed together when you take it to a recycling company. Therefore, you should not have brass and aluminum put together in one place. Besides this, clean the scrap. You have to make sure there are no extra attachments and that the weight is 100% metal. Sometimes there can be traces of paint or other non-ferrous attachments to the item, making it less profitable.

Where to sell the metal

You have two possibilities when it comes to selling your items. While you can go to the nearest scrap yard and get paid immediately, you should better sell your scrap to a recycling company. Some companies will offer you competitive prices and they make efforts to build a lasting relationship with you. The reason why these companies are interested in what you’re selling is that they sell the ferrous material you provide them to industries that need it. Thanks to recycling companies, you will not even be required to take care of the transport since they ensure it for you.