Why Are Certain Types of Scrap Metal Worth More Than Others?
Recycling scrap metal has a ton of benefits for the environment and can earn you a good amount of cash for items that may otherwise end up in a landfill! Many people who are new to scrapping don’t know that different types of metal have different values. Before you’re left stunned by an unexpectedly high or low scrap payout, read this article to learn why certain types of metal are worth more than others! Visit Allied Recycling Center in Walpole, MA, to scrap your ferrous and non-ferrous metals in Southeastern Massachusetts!
Supply vs. Demand For Different Metals
Supply and demand is a simple economics concept. When a lot of people want something that there isn’t much of, it costs more. When no one wants something there’s a surplus of, it costs less. That same concept applies to different types of scrap metal! Anything that increases the demand for a specific type of metal will raise the value for a period of time.
Global politics impact the price of everything, and scrap metal is no exception. When international politics are relatively calm, and countries are consistently purchasing metal from America, the values remain high. If a war or political conflict interrupts the market, prices for scrap metal will plummet.
Common Scrap Metal Types
Different scrap metals have different values. While those values are constantly changing based on the abovementioned factors, some metals are consistently more valuable than others.
Copper – Copper is generally considered king when it comes to the world of scrap metal. Copper provides consistently high payouts. There may be certain times when copper isn’t the highest paying metal, but it’s never the least valuable!
Aluminum – Aluminum prices vary significantly from one year to the next. The good thing about aluminum is that it’s easy to find, so getting more of it to increase your payout isn’t too hard, even if the price is lower.
Iron – Iron is a ferrous metal, which means it is magnetic and will rust over time. Scrap iron has a relatively low selling price, but recycling it is still good for the environment.
Steel – Steel is a mid-range metal in terms of how much it’s worth as scrap. Stainless steel, on the other hand, is a big money maker! Steel prices change often, so be sure to keep an eye on metal markets when you’re looking to scrap it!
Contact Allied Recycling Center!
If you have any questions about scrap metal recycling or are looking to recycle scrap metal in southeastern Massachusetts, don’t hesitate to contact our team at Allied Recycling Center! Call us today at (508) 668-8699 or fill out the contact form on our website, and we’ll get back to you as soon as possible!