So you are interested in selling scrap metal? It is a great way to make some extra pocket cash. After spending your day collecting and sorting your’e left with giant piles of metal and one question. How much is this all worth? It would be a shame to do all the work for little return. Luckily, we have compiled a list of average scrap metal prices in the Metro Detroit area. The prices listed can help give you an estimate on how much all your scrap metal is worth.
The Price of Scrap Metal
Before driving on down to your local scrap yard there are few things you should consider. If you haven’t already we recommend reading our blog “How to Find, Sort and Sell Scrap Metal for Cash”. This blog will educate you on identifying the types of metal you have, as well as how to properly sort your items. We want to help you get the best cash value for your scrap metal. Knowing the basic characteristics and types of metal you have, will give you a better idea of the possible scrap metal return. There are plenty of scrap tips you can use that can up your metal’s cash value.
Scrap yard prices range all over the area. Scrap yards typically determine the value of your scrap by their weight per pound. Non-ferrous metals have a higher return value than ferrous metals. To ensure the best return value for your scrap, we recommend sorting and organizing your scrap into separate piles based on their metal type. If you go to your local scrap yard with mixed metals, you could be losing out on extra cash.
Average Scrap Metal Prices in Metro Detroit
The amount of money a person can make scrapping can range from a few extra bucks, to a few thousand dollars. It all depends on how often you scrap, as well as possible connections you may have with local building or construction companies. Obviously the more dedicated you are and the time you put in will determine the amount of money you make from scrapping at the end of the day.
It is important to remember that scrap metal prices vary day to day. Scrap yards adjust their prices based on their current market prices. The market price is constantly changing based on the supply and demand of a certain metal. Metals are a commodity and change regularly. Depending on the time of year and other factors, can influence your potential return value. For example, the price of copper can fluctuate based upon a local increase in the building of homes and businesses. The more copper that is needed to build structures, the more companies are willing to pay. This can be applied to other types of metals as well.
Scrap Metal Worth Per Pound
Now after you have sorted your metals into proper piles based on the metal type and characteristics, you can estimate the potential return you will have at your local scrap yard. Remember local scrap prices can vary at each scrap yard so it is best that you do some investigating to find the best scrap yard. We have provided you with some reliable resources that can allow you to check current scrap metal prices. These prices are subject to change based on the current market as well as your local scrap yard prices.
Scrap Register is focuses on global scrap trading. You can use this site as a reference for estimating what your potential cash value may be for your scrap metal and other materials. The site is broken down into metal categories and gives you the current price the metal is going for in each region in the United States. This site also includes electronic scrap prices. With a subscription you can constantly see the live updates for current scrap prices.
Verichek Technical Services, Inc.
Verichek specializes in metal identification. They offer a scrap metal recycling guide that is perfect for new scrappers. They have a list of the average price’s different types of metal sell for. Of course, prices are subject to change but if you want a quick simple reference for estimating your scrap’s cash value, this is a good website to use as a resource. Their beginner’s guide also highlights key information and the benefits scrap recycling has on our economy and environment.
Hopefully, this information is of use to you. Knowing the current prices of scrap metal can give you an idea of the possible cash value all your scrap metal offers. Keep in mind each of the metals listed can vary in type condition. To ensure maximum cash value make sure you properly sort your scrap to the best of your abilities. The more educated you are on metal and scrapping methods the more likely you are to walk away with more cash. Do your research and find out what the what local scrap yards in Metro Detroit offer and compare them to these prices.