Your commercial or industrial business might already be recycling some metal, but you might not be seeing the profits from it that you were hoping for. If this is true, don't give up on the idea of scrapping your company's metal just yet. Not only is recycling an eco-friendly way of getting rid of excess metal, but it can be profitable, too. These ideas will help you get even more.
1. Recycle More
The first key to making more money from scrap metal is recycle more metal. You might think small amounts of metal aren’t worth recycling, but they can really add up. Even small amounts of metal can be quite valuable, depending on the type of metal and current prices.
If you don't think that you have enough metal to worry about recycling right now, store it if possible. As it accumulates, it can add up to an amount that could result in a nice payment.
2. Sort It
Your business may work with many different types of metal. If this is true, then you might deliver a large load of mixed metal when you choose to recycle it. You can still get paid this way, but you'll typically be paid a lesser amount than if you were to separate more valuable metals from those that aren't worth as much.
Don't wait until the metal has piled up to go through and sort it since this process can be very time-consuming. Instead, when you're putting metal aside to recycle later, try storing it separately. Then you can sell your more valuable metals for a higher price when the time comes.
3. Clean It Up
Cleaning up your metal before selling it will help you get more for it. This doesn't mean that you have to break out a scrub brush and soap, of course. Brushing off any large clumps of dirt or mud will make it easier to identify so you get paid for the right type of metal, though. Also, remove any extra pieces — such as other types of metal or pieces of wood or rubber — to help you get paid more.
4. Haul It Yourself
Many metal recycling companies will come out and pick up your scrap metal for you and then pay you. However, they may charge you a fee for the service. Determine if it's worth the cost. If you already have the trucks and trailers to haul your own scrap metal, you might find that hauling it yourself is best so that you can get the full amount for the metal you're recycling.
5. Wait Until Metal Prices Go Up
Metal prices fluctuate from day to day. This is true for all types of metal from very valuable metals like gold and silver to cheaper metals like iron and steel.
The causes for these fluctuations can be complicated but are related to supply and demand. If you're not involved in the metal industry, the factors driving price changes aren’t something for you to worry about, but it doesn't hurt to keep an eye on metal prices.
Many scrap metal recycling companies share what they are paying for metal each day; you may be able to find this information on their website, or you can call and inquire. Waiting for a better price will help you get more for your scrap metal, particularly if you're selling it in large quantities.
Your business can actually get a nice amount of money for your scrap metal if you try these tips. Contact us at Monterrey Iron & Metal Recycling to find out more about how we work with commercial and industrial businesses to help them with recycling their scrap metal.