The trade in scrap metal has no doubt proven to be a lucrative venture from which almost anyone can make money from. Yeah! That is right, anyone can, Even you! All you need to do is understand the trade and know the various means you can make a profit out of it both of which will be addressed as we proceed.
SCRAP METAL COLLECTION
You are probably asking yourself how it is possible to get metals enough to qualify you to deal in the trade. Interestingly, scrap metals are all over the place. Perhaps it’s the pieces of metal you’ve watched lurking around the corners of your environment or the ones you’ve seen being disposed of by people most likely because they don’t know its value, scrap metals can easily be procured. You can choose to move from house to house, informing people that you collect scrap metals and you would be more than willing to get theirs off their hands. With authorization, you can also choose to go into a demolition site to get metals. Scrap metals can also be gotten by checking in on local industries around you that could possibly put them up for sale. Most of these industries sell at a minimal rate. Also, a considerable way of collecting scrap metal is simply liaising with tradesmen like plumbers, electricians who frequently have access to removing damaged metal fittings.
UNDERSTANDING SCRAP METALS.
The profit derived from scrap metals varies depending on the type you are looking at. There are two types of scrap metal which are Ferrous and Non-ferrous metals.
Ferrous metals – Ferrous metals are metals with a high iron composition. It implies that iron is a predominant composition of such metals. They attract magnets. Examples of ferrous metals are steel, cast iron, wrought iron etc. and these can be found in automobile engines, rail tracks, industrial pipes, or even basic home appliances like washers, driers, electric cookers, etc.
Non-ferrous metals – Unlike ferrous metals, non-ferrous metals have no iron composition and this gives them a higher resistance to rust. They are also highly malleable and as such, they can be beaten to the desired shape. Examples of non-ferrous metals are aluminium, copper, brass and they can be found in window frames, wires, kitchen wares while some of these metals may look like steels and yet they do not attract magnets.
5 EASY WAYS TO GET MONEY FROM SCRAP METALS.
The demand for scrap metal varies. Depending on the type of scrap metal you wish to deal in, there are various ways of getting money from scrap metal trading. Here are top ideas that would most definitely be helpful:
Scrap metal recycling
If you are looking to deal in non-ferrous metals, this is one prominent way to make money from scrap metal trading particularly in this age where recycling has become the order of the day. A lot of industries engage in collecting non-ferrous scrap metals and reconstructing them into new innovations. All you must do is simply locate one of these recycling centers or industries and trade your scraps for cash.
Scrap metal repair
This is another way to make money from scrap metal although it requires a lot of experience. If you can get access to damaged home appliances from either family or friends and bring them back to life by carrying out repairs on them, you could put them up for sale at a profitable price in a thrift store. If you can’t get access to obtaining scraps from the original owners, you can also offer to carry out repairs on their damaged scraps for an amount of money.
Metal scrapping and selling
A lot of people have failed to realise that the old piece of junk they have disregarded can stand to generate funds for them. Let us consider that you own a car that you no longer make use of probably because it has a faulty engine or something, rather than totally naming it off as a useless item, you could simply scrap the other parts of that vehicle that are functioning and sell it off to someone who requires it for his own vehicle which is similar to yours. This is the same case for many appliances. The fault with them may just be electrical and we totally discard them as irrelevant whereas we could either fix them or utilise the other parts that function well for another purpose.
Melting and reconstructing
In cases of ferrous metals, with access to the right facilities, you can earn by liquidating steel and solidify it into something else. A damaged automobile engine, for example, can be melted and used to create an iron rod that is very useful in construction. Utilise this and you have become a metal producer!
This means is another considerable way of making money from scrap metals. It involves the use of innovating through the intellect of something that has been made before. Rather than beating yourself up on what to use metal scraps for, you can simply construct something by pairing together components of the scraps into something that has been made before and putting it out for sale at a cheaper rate than the original appliances. For example, there are several young inventors of torches who have come up with their own innovations simply by utilising scraps like light gauge wires, LED etc.
If you can make use of the following tips, be rest assured that in a little while you will be making a reasonable sum of money by indulging in scrap metal trading.
Pricing for metal scrap.
Below is a stipulated idea for the various pricing for metal scraps through research: