Collecting and selling scrap metal can be quite lucrative as long as it is done intelligently. Making money from scrap metal requires careful attention to details. The prices for scrap metal depend on a number of factors such as the type of metal, the current market price, and the particular scrap metal dealers that you work with. Scrap metal prices fluctuate like the stock market so it is necessary to stay informed and up to date.
Separate the scrap metal into different categories. Different categories of scrap metal are bought and sold for different prices; aluminium cans (baled) - £920-960 per tonne; light iron - £145 per tonne; steel - £150-180 (depending on type); zinc - £500-550 per tonne as of December 2011.
Search online or the yellow pages for scrap metal dealers. Look under scrap metal, scrap metal dealers, and recycling. Call several scrap metal dealers and compare prices. The prices may fluctuate widely from dealer to dealer. Sell your scrap metal for the best price.
Develop a working relationship with reliable scrap metal dealers in your area. A reliable scrap metal dealer is a good resource for keeping you informed about scrap metal pricing and trends.
Visit the local scrap yard and look at their scrap metal price chart. Scrap metal dealers keep current scrap metal pricing charts. Ask for a copy of the chart or for details about purchasing your own scrap metal pricing chart. Scrap metal pricing charts can also be found online.
Call a stock trader who specialises in metal prices. Stock traders have access to current metal pricing charts and make informed guesses about marketing trends and prices.