Today, there is no way to predict the prices of scrap metal on a given day accurately ahead of time since they are fluctuating constantly. On top of this hurdle, many recyclers of this scrap do not go about it the right way to maximise their profits. For this reason, we are here to help you receive the most out of your recycling efforts by sharing the following five common mistakes to avoid when scrapping any type of metal.
1. Improperly Preparing Your Scrap Metal
Do not follow in the footsteps of other metal recyclers who fail to prepare the scrap correctly prior to dealing with a recycling company. For example, you will earn more money when you take the time to strip your copper wiring. This also holds true for aluminium insulated wiring. Other types of preparation may be necessary with other scrap metal, so it is best to research into this prior to selling any that you own.
2. Not Understanding the Scrap Metal Grades
Another mistake many people make is not thoroughly understanding the different grades of scrap metal, especially with copper. Each grade will bring a bit different price. The following is a list of these grades:
• #1 Bare Bright Wire
• #1 Copper Flashing and Tubing
• #2 Copper Wiring and Tubing
• #3 Roofing Copper
• #4 Insulated Copper Wiring
3. Using the Wrong Recycling Company
Relying on a disreputable recycling company also will bring you a lower price for your scrap metal. Some companies out there try not to pay the current price when they can get away with it. Be certain to use a company that has a long-standing reputation for providing the best prices for all scrap metals.
4. Not Separating the Scraps Prior to Going to the Recycling Company
Avoid this mistake by taking the time to separate your scrap metals into their pertinent categories before you make the trip to the recycling company. This is another way to maximise your profit. Newcomers to metal recycling will many times just pile all their scrap together instead of sorting it.
5. Not Understanding the Current Price That You Will Receive for Your Scrap Metal
Before driving to the recycling company, you should call and receive the current prices for scrap metal. Lack of knowledge on this is a major mistake some make in recycling their scrap. Stay ahead of the game by obtaining current price information prior to agreeing to any offer from a recycling company.
For further information about these five common mistakes to avoid when scrapping metal, consult with our company, Melbourne Metal Recycling. We pay you for both non-ferrous and ferrous scrap metals along with other items. Our company deals with you fairly at all times.