How to Check Scrap Metal Prices

Three Methods:Check Local OutletsResearch Historical PricesQuality and Competition

Recycling or dealing scrap metal can be a lucrative business. However, making money depends upon the quality of the scrap metal, the quantity and the current price of the metal. As a metal trader, you should learn how to check scrap metal prices because they change daily with the fluctuating market.

Method 1
Check Local Outlets

  1. 1
    Visit or call local scrap metal recyclers. Find out how they trade metal and where they get their scrap metal prices. You can use the same source to determine what the daily price is for metal if they are willing to share the information.
  2. 2
    Visit local recycling yards. These yards also deal in scrap metal, but may or may not buy according to market prices.
  3. 3
    Look on scrap metal or recycling center websites. In most larger cities, the business will update their prices daily, so that you can check prices before you load your scrap metal.
  4. 4
    Compare prices at local outlets. A place that updates their prices more quickly may allow you to take advantage of upsurges in scrap metal pricing.

Method 2
Research Historical Prices

  1. 1
    Do some research about scrap metal prices. Just like researching the historical prices of a stock, scrap metal changes and you can tell if it is on the rise or falling.
    • Generally, scrap metal prices go down in the summer and up in the winter. Researching the highs and lows of these seasons can allow you to wait for a better time.
  2. 2
    Research [ international scrap metal prices] [ here]. Even if you are unable to trade scrap metal internationally, you can keep on top of prices in other markets that can affect prices at home.
    • Keep tabs on [ historical and current prices]. This site also keeps track of scrap plastics, rubber and electronics.

Method 3
Quality and Competition

  1. 1
    Know the quality of your metal before you check prices. Make sure you separate the rare metals from mixed iron. The quality affects the price considerably.
  2. 2
    Consider going further afield. Go online and research larger scrap metal yards that are slightly further away. These yards are likely to list their daily prices.
    • Do a search engine query with your state's name and "scrap yard" or "metal recycling" before choosing to trade on the day's current rate. Larger scrap yards may offer better prices that are worth the transportation cost of going further down the road.
  3. 3
    Strike when prices are high. Playing the market comes with its risks, but learning to recognize a jump in scrap metal rates is likely to pay off.

Things You'll Need

  • Local scrap yards
  • Local recycling yards
  • Large state recycling yards
  • Historical metal prices
  • Scrap yard websites

Article Info

Categories: Business