Each year an estimated 130 million metric tons of scrap metal is recycled each year. This is due, in part, to the fact that scrap metal can be used to make a profit. If you are thinking of starting a scrap metal recycling business, maximizing your profits will be essential to the success of your venture.
Here are three simple tips you can use to increase the amount of money you get paid for your scrap metal in the future.
1. Invest in tools that will help you avoid missing any scrap metal.
Many full-time scrap metal collectors offer cleaning services for machine shops or other industrial businesses in order to access the scrap metal these businesses are looking to get rid of. If you don't have the right tools at your disposal during a clean-out, you could be leaving valuable metal behind.
One of the easiest ways to increase your metal yield is to invest in a magnetic broom. These tools are designed to attract and retain anything made from metal (like screws or other metal scraps) as you sweep out an area. You won't have to sift through dirt piles to find small pieces of metal, and you won't run the risk of missing out on these small items when you invest in a magnetic broom.
2. Use the sun to help make it easier to strip wire.
Copper is one of the more valuable metals on the scrap market, but a lot of the scrapped copper you collect will likely be wire covered with a plastic coating. In order to turn this wire into profit, you will need to strip the plastic coating from the wire.
If you want to reduce the amount of time it takes to complete this stripping process, leave your wire sitting out in the sun on a warm afternoon. The plastic coating will soften, making it easier to remove. Reducing the amount of time it takes to strip your copper wire frees you up to collect even more metal, which increases your overall profitability over time.
3. Learn quick ways to identify various metals.
Being able to tell the difference between a valuable metal and one whose market value is down will help you cash in your scrap metal when it is most profitable. One of the most difficult differentiations for new scrap metal collectors is separating aluminum from stainless steel.
A simple scratch test performed with your vehicle's key will help you better identify these metals. Aluminum should scratch easily, while stainless steel will take much more effort to mar. Keep your aluminum and stainless steel separate, since the market prices vary significantly for these two metals.
Using a few simple tips and tricks, you can easily make your scrap metal business more profitable in the future. To learn more, contact a company like Sunwest Metals Inc.Share