It’s true that when you sell your metal to be recycled, you are helping the environment in several ways. You help save energy and natural resources that would have been used to create a new metal product, for example. For lots of people, that is enough of an incentive, but one of the best things about metal recycling is that it can directly benefit you—or your wallet to be exact. Companies that buy metal to be recycled are always ready to pay you for your scraps, but metal prices change all the time for a variety of reasons. You may not know exactly how much money you can get whenever you sell your metal, but you can be aware of the factors that affect metal prices.
1. Quantity- If you only have a few metal scraps, you’re not likely to fetch a large sum for them. It’s a given that selling more metal scraps means you will make more money, and some of that has to do with transportation costs. Selling your metal in bulk is more convenient for the buyer, so they will be more willing to give you a higher price.
2. Quality- Not all metal is equally valuable. For instance, there are generally two types of metal: ferrous and non-ferrous metal. Although they are both durable and resistant to corrosion, non-ferrous metals like aluminum and copper are more valuable to buyers than ferrous metals.
3. Location- Metal prices may also be different in different locations because of the cost of transportation or importation. If your metal needs to be shipped to a recycling facility that is far away or even overseas in some cases, you won’t be able to make as much money.