Everything You Need To Know About Detroit Scrap Metal Prices

copper wiring with text

In Metro Detroit, there are thousands of people reaping the benefits of scrap metal recycling. Besides the positive impact it has on our environment, recycling scrap metal can put extra cash in your pocket. Scrap metal yards have customers come in with scrap metal on a daily basis. The people who do this are taking full advantage of the scrap metal industry and you can too.

So, if you want to begin scrapping, or are new to the industry, the first few questions you may be asking are:

  • What are the scrap metal prices near me in Metro Detroit?
  • What determines the scrap metals value?
  • How much can I make selling scrap metal for cash?

Unfortunately, scrap metal prices fluctuate each day. Since metals are commodities they change regularly. However, trends show that scrap metal prices are determined by the type of metal and their use within the world. We have gathered the information you need to know about what determines the scrap metal prices for each type of metal. Use this guide to help with your hunt for identifying and understanding what metals are the most valuable and can get you the highest cash value.

Price of Scrap Metal Today in Metro Detroit

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Scrap metal prices change based on the market’s condition. For example, when the Metro Detroit area has an increase in residential or commercial building projects, there could be a higher demand for copper since it can be used for multiple building purposes. This would result in an increase for scrap copper prices, meaning more money in your pocket.

The scrap metal prices are all based off the demand for a certain metal. Below are some of the most common metals and what determines their scrap metal prices:

  • Copper: Copper is one of the most valuable scrap metals you can come across. It is found in most electronic products we use daily. The metal is valuable because of its resistance to corrosion and ability to be molded and applied for many purposes. Copper is highest in scrap metal prices and should be added to your list of materials to look out for when scrapping. Copper pipes, copper tubing and electrical wiring are all materials you can bring in to your local scrap yard.
  • Silver: The demand for silver is always high. Since it is resistant to rust and can endure extreme temperatures, scrap metal yards will happily pay top dollar for any scrap silver you bring in. Be on the lookout for any jewelry that might contain silver as well as old silverware. Take your silver to a scrap yard instead of a jeweler. Scrap yards will pay higher prices.
  • Brass: Be on the hunt for brass when scrapping. Scrap metal prices for brass have seen a rise over the last couple of years. Luckily, you can find brass everywhere. Common objects like door knobs and musical instruments all contain brass. It is easily identifiable because of its resemblance to gold when polished or cleaned. Your local scrap yard would be happy to pay you for any brass scrap you stumble across.
  • Aluminum: When you think of aluminum the first thing that comes to mind are pop cans. So, why is aluminum on the list for highest scrap metal prices when you only receive 10 cents for returnables? Well aluminum is still the most recycled metal to this this day, but the demand has yet to decrease. Aluminum has always had a higher return value at scrap metal yards. They will be glad to take more than just soda cans as well. You can find aluminum in old bike frames and even old electronic devices.
  • Stainless Steel: Another metal that seems to be to abundant to have a high scrap metal price is stainless steel. However, stainless steel is in demand because it contains other precious metals including chrome, nickel and iron. It is also worth noting stainless steel is resistant to corrosion and is known for its shiny appearance. You can grab stainless steel scrap off many objects including old appliances and automotive parts.
  • Gold: To no surprise, gold makes the list for having one of the highest scrap metal prices. Simply because of its scarcity and chemical makeup. Gold has always been highly sought after and the demand has no sign of ever decreasing. When you do stumble upon old gold, you can expect a high return from any local scrap yard in Detroit.

Finding the Best Scrap Metal Prices Near Me

industrial magnet picking up scrap metalNow that you know the basics about scrap metal prices and the value of scrap metal, you can be confident knowing what your haul is worth. Choose a local Metro Detroit scrap yard that knows the true value of the metal you are bringing in. The scrap yard that will offer the best prices for your scrap will be the ones who are experts on the current market value. They will pay you the reasonable competitive price for your scrap metal based on the current demand.

Know the quantity of scrap. Scrap yards set scrap metal prices per pound. Knowing the value of the metal you have, along with quantity will help you choose the best scrap yard to take your findings to.

In conclusion, when it comes to finding the best scrap metal prices there is no definitive answer. With fluctuating prices and the demand for certain metals changing each day, you can never pinpoint the exact amount your scrap metal will be worth. However, go to a local Metro Detroit scrap yard and get the current price for each metal. They will be the ones to give you top dollar and have the highest price.