If you have a cargo of scrap metal on your hands, you should be pleased knowing you’ll soon be able to turn a profit and relieve yourself of unwanted junk. The first step to recycling metal is taking inventory of the commodities you have to sell. Keep in mind that the larger the freight, the more profit it will render because the price of scrap metal is calculated by weight.
However, these prices are always changing, and fluctuate depending on a number of factors. For this reason, it is good to educate yourself on the current market values for scrap metal before selling it to a recycling center. To learn more about the scrap metal recycling industry, continue reading to review some frequently asked questions about pricing and profits.
Why Does the Price Change?
The prices of scrap metal are influenced by several factors. Examples of such factors include supply and demand, the price of virgin metals, and the cost of energy and production.
How Much is the Price of Scrap Metal Today?
The price of metal first depends on the type. Each type of metal has its own value, and they are subject to change at any moment. Here is a current update on some of the most common metals:
- Copper #1 = $2.42 per Pound
- Copper #2 = $2.30 per Pound
- Light Copper = $2.10 per Pound
- Stainless Steel = $0.40 per Pound
- Lead = $0.55 per Pound
- Cast Aluminum = $0.42 per Pound
- Yellow Brass = $1.50 per Pound
- #1 Unprepared Steel = $100 per Net Ton
*These prices could have already changed by the time you read this! Check with your local scrap metal recycling center to learn the current value of your metal.
How Much Can I Get for Aluminum Cans?
Although the price paid for aluminum cans fluctuate, they generally remain around the same value throughout the world. You can expect to make anywhere from 1.5 to 1.7 cents per can. One can weights roughly a ½ of an ounce, which means you need 32 cans to accumulate one pound of aluminum.
How Much Can I Get for My Junk Car?
Because there are many types of metals that make up an entire vehicle, it can be confusing understanding its actual value. Established scrap metal recycling centers have innovative technologies to assess the worth of a junk vehicle, including state of the art electronic platform scales, XRF metal analyzers, and more. The amount of profit you’ll receive for your junk vehicle depends on a long list of factors, but the primary ones include the make, model, and condition of the vehicle. If the vehicle is still drivable, for instance, you will make a lot more money. Selling just an empty frame will render less. As an average estimation, you can expect your car to be worth around $150 per ton. For smaller to medium-sized cars, this can deliver a $250 to $300 profit, while larger vehicles like trucks, SUVs, vans, and boats will be a little more.
Who Do I Sell My Scrap Metal To?
There are hundreds, if not thousands, of unqualified, fly-by-the-night junk metal buyers. For this reason, you have to be very cautious of who you sell your cargo to. To ensure that you choose a dependable buyer, look for a scrap metal recycling company that has been in business for many years. This shows that they continue to do business in their community because their community trusts them. Also look for convenient customer amenities, like free junk car pickup, same-day cash, free estimates, and so on.