3 Questions That Tell Your Scrap Metal’s Price

Published on February 27, 2016

Scrap MetalScrapping metal in Australia is a win-win situation. This endeavour is a form of decluttering your own space and keep your unwanted possessions from becoming a waste. In essence, you support and contribute to recycling if you scrap any type of metal item, which helps minimise the amount of rubbish thrown into the landfills and reduce the need to manufacturer new products. Above all, you’d be incentivised in scrapping by earning cash you’d otherwise wouldn’t make without disposing your valuable rubbish to recycling yards.

But how financially rewarding is metal scrapping? Not all metals are equal, Martin Scrap Metals says; thus, the cash you’d receive depends on the item you’d scrap. Is one kilo of copper equivalent to one kilo of steel?

Every recycling yard evaluates items differently, in a way, but here are the general questions that need to be answered to determine scrap metal prices in Perth, Adelaide and other major cities:

Is It Magnetic?

Magnetism is a common factor to identify the value of an item because it pretty much tells you whether a metal is ferrous or non-ferrous.

In a nutshell, the former are metals that contain iron, while the latter are those that don’t. This is a chief indicator because the scrap metal industry considers non-ferrous metals more valuable.

It takes rigorous inspection, but the magnetic property of your item can help set your expectations right.

Is It Scarce?

Supply and demand is definitely a major factor. The very reason non-ferrous items cost more in this trade is because they tend to be less ubiquitous than ferrous items. In addition, the demand for non-ferrous metals, such as copper, brass and aluminium, is usually higher compared to ferrous metals.

Recommended Article:  Alcohol Rehab Programs – Getting and staying sober

Is It Heavy?

Of course, the amount you’d make depends on the weight of your item. Although the price per kilo of non-ferrous items beat that of ferrous items, you can’t expect to make a lot by scrapping a few strips of copper wire compared to tonnes of light grade steel.

The criteria for pricing scrap metals is quite straightforward. However, you need to do your due diligence when it comes to the recycling yard you’re dealing with to ensure you’d be treated fairly.