Scrap metal recycling can be a good way to harness a bit of money, should you be in the position to collect it. Normally there is a scrap metal price index to go by, indicating the best price you can obtain from a buyer. Lead has the highest rate of recycling of all the metals, according to The Metal Casting website. About half of the total world lead production of 4.7 million tons comes from recycling of lead scrap.
Scrap Metal Price Index
The Scrap Metal Price Index gives a basic idea of the worth of commonly used scrap metal, including scrap lead pipe. This price index is set every year and is monitored month-by-month, so you can see where prices have fluctuated over time. Normally, economic conditions affect price fluctuations as well as the valuation of scrap metal per ton.
Fluctuations in Value of Scrap Lead Pipe
The prices of scrap metal have changed dramatically since the index formed in 1999, when the average cost per ton in January of that year was approximately £79, and by December it had reached £84. By contrast, in January of 2010, the price per ton was well over £180, and in May it hit a whopping £242.
Making Profit out of Scrap Metal
Scrap metal is a big business. Many people collect metal scrap from old vehicles and appliances to sell to scrap metal dealers. It is not unheard of for a scrap metal dealer to pay less than half of the current valuation to turn the scrap around for further profit to a larger buyer.
Making a Good Deal
If you have 2 tons of scrap lead pipe and a dealer agrees to buy it, he might offer you only £65, even though it is technically worth three times as much. You can shop the scrap lead around to another dealer who might offer you more, or accept the first dealer's offer.
Making a Living
Check online discussion boards to see what other people are getting for their scrap metal in the area where you live. Once you find out where the most fair buyers are located, you can see them on a fairly regular basis with your scrap metal collections. Entire families rely on scrap metal for their income, so it is possible to make a decent living out of procuring and selling scrap lead pipe and other metals.