It should go without saying that you want to make the most money possible from your scrap, but many people consistently make mistakes that can actually decrease your profits. In this article, we have covered 5 of the most common mistakes that cost you money when scrap metal recycling in the hopes that you’ll be able to avoid them in the future. Even a small increase in the profit you make will be welcomed, so read this information thoroughly!
1. Failing to Properly Prepare Materials
You’ve probably found that the recycling yard doesn’t mind when you bring wire with the insulation still on it, which you might think is great because it saves you time. The reason they don’t mind, however, is that they don’t have to pay you as much for the wires when they haven’t been stripped! When you consider that a lot of wiring is comprised of copper, it makes sense to take the extra time to strip it all down.
2. Going to Yards with a Bad Reputation
When collecting scrap, you need to weed out the bad from the good so that you’re only left with stuff that’s going to make you money. Likewise, you need to weed out the bad recycling centres from the good so that you only deal with those who appreciate your business. Remember that not all owners are alike, so it’s important that you do your research prior to paying them a visit and selling them your metal.
3. Being Misled by Different Metal Grades
This is particularly common for those new to scrap metal recycling – you might think that you’ve got a fairly decent haul, only to be told that it’s not worth as much as you thought. This is why it’s essential to find out exactly what you’re dealing with and how your chosen yard prefers to accept it, as this will ensure the best possible profit. Copper, for example, comes in many grades, from bare bright wire to insulated wire.
4. Failing to Separate Prior to Dropping Off
Many recycling centres will not let you separate your metals at the door, as this will mean that they make less money and you could hold up other customers. This is why it’s essential that you have separated your stock prior to your arrival. Failing to sort the metal will actually result in the yard classifying it as the least valuable in the load – these sorts of price differences can really add up, so should be avoided.
5. Not Knowing How Much you’ll be Paid
Before taking your stock into a recycling centre, you should call ahead to get their current prices. By calling a handful of local yards, you can ensure that you’re getting the best possible price for your scrap. It’s important that you don’t let pricing be your only criteria for selecting a yard, however, as you never know what else is going on behind the scenes that isn’t entirely legal. Customer service is valuable!
We hope that the information provided above has enabled you to stop making some common mistakes that decrease your scrap profits. We understand that fluctuating prices and other factors can make the scrap metal recycling process difficult at the best of times, which is why we are committed to ensuring that you make the most money possible. If you still feel like you’re doing something wrong, be sure to ask other recyclers where you could improve.
