Like most products, scrap metal prices tend to fluctuate depending on the economy. And unfortunately for many sellers, this can sometimes mean less profit. If you’re trying to enter the market, it’s important to understand how to get the best scrap metal prices in Sydney!
Fortunately, Understanding How Scrap Metal Values Change Is Simple. All You Need To Do Is Be Aware Of The Following Factors:
- Supply And Demand
There’s one law that governs the economy regardless of what industry: and that’s supply and demand. Generally, the rule is that the higher the need for a product, the greater its price.
For example, copper is a widely sought-after metal for its electrical and thermal conductivity. It can effectively resist corrosion, too. But it’s also relatively rare. This results in great demand and consequently, higher costs. This is excellent news for copper sellers because scrap copper prices are high.
- Time Of Year
Many people don’t know that scrap metal prices vary depending on the season. This is in line with supply and demand. For example, more construction work is done during warmer months, driving up the need for materials because metals like structural steel and aluminium are necessary to complete building projects.
- Mining And Processing
Of course, the prices of scrap metal all come down to one thing: the current state of the mining industry. Simply put, the more complicated a material is to mine, the more costly it is.
Consider your vehicle’s catalytic converters, for instance. These devices require precious metals, namely palladium, platinum, and rhodium, to function correctly. As a result, they are highly sought-after and can fetch increasingly high prices.
What If You’ve Checked All The Boxes Above And Found The Best Time To Sell Your Scrap Metals? If You Want To Obtain Even Better Prices, Consider The Following Tips:
- Separate Your Scrap Metals
There are two types of scrap metals: ferrous and non-ferrous. Before going to a recycler, you must separate them into their respective categories to make the process more efficient.
You can easily distinguish ferrous from non-ferrous metals using a magnet. The former will easily stick to the magnet, allowing you to divide them in just a few minutes.
- Clean Your Metals
Another secret to getting great prices is cleaning your scraps. This is especially important for metals contaminated by oil and dust, which are not readily accepted by recyclers.
In addition, avoid selling any radioactive materials, corrosive liquids, and explosives.
- Visit A Trusted Recycler
Finally, the best way to ensure top scrap metal prices is by going to licensed recycling companies! In Sydney, Metal Force Recycling is an excellent choice. We buy various metals from aluminium to steel.
You can call us at 0403 191 732 to get an instant quote and schedule your pick-up as soon as possible!