Share on facebook Facebook Share on google Google+ Share on twitter Twitter Share on linkedin LinkedIn
scrap metal

How to Make Money by Selling Scraps

Spread the love

One man’s trash is another man’s treasure, they say, and it is true. Scrap metal, for example, has value and you can make money off the pieces taking up space in your garage or shed. The main factor that determines your profit is the current demand in the market. In order to get the right price for your scrap metal, you should first be knowledgeable enough to properly identify the metal you would like to sell.

scrap metalIdentifying Scrap Metals

In order to correctly identify your metal scraps, you can perform the colour test. The colour of copper is usually reddish brown, while zinc, aluminium, lead, tin or magnesium is usually white. Silvery or white usually signifies cast iron.

Alternatively, you may use the chipping test. Using a chisel, extract a tiny piece of the metal to examine it closely. Cast-iron chips are grey in colour and also brittle and smooth in nature. Aluminium chips are by nature continuous and characterised by saw-like edges. Cast iron that is white breaks into fragments because it’s brittle, while malleable iron gives out rough chips. Steels having high carbon content and are usually of a lighter colour with continuous chips.

There may be other ways to tell which metal is which. Do your research online to find more articles of the same theme.

Calling a Junk Yard or Dealer

Once the correct identification process is over, get in touch with the local scrap yard or dealer. You will find that there are quite a few and prices may fluctuate from yard to yard or dealer to dealer. Moreover, prices vary for different metals and you will also have to find out whether the dealer or yard will buy the scrap at their cost. Once the scrap reaches the yard, it will be weighed and you will be paid according to the prevalent price of the metal you are selling.

It always pays to conduct a proper market survey on prices before you choose a particular scrap yard or dealer.

Scroll to Top