You’re probably well aware of the fact that some scrap metals out there are more valuable than others. But what is it about these materials that make them so highly desirable? And further still, why is it that scrap metal prices always seem to fluctuate?
In this post, we’re answering all the above questions plus more:
What Makes Scrap Metals Valuable?
Most people tend to think of gold, silver or platinum when someone asks them to think of valuable metals. And while these metals are no doubt valuable in the minds of everyday consumers, it’s a slightly different story when it comes to the world of scrap metal. Keep in mind that most scrap metal dealers don’t deal with precious metals such as these. After all, the scrap metal industry is focused on buying, recycling and supplying large quantities of scrap to businesses for mostly functional purposes; and precious metals can be quite hard to come by. Instead, scrap metals are considered valuable based on their unique properties. This is why versatile and practical materials such as copper are so highly desired, and henceforth, valuable.
The Fluctuating Prices of Scrap Metal
Maybe you or someone you know has gone to sell your scrap at different times throughout the year, and noticed a slight change in the amount of money you received in exchange. And no, you haven’t been bamboozled. Rather, scrap metal prices tend to fluctuate depending on a number of different factors. These include:
The Condition & Quantity
Naturally, the more scrap metal you have to offer, the more you can expect to receive. Aside from this, the condition of your scrap metal is also considered. If your scrap is dirty, rusty or covered in bits of other material, the scrap metal dealer is probably going to offer you a slightly lower rate, as they will have to undertake the cleaning themselves. On the other hand, if you prepare your scrap adequately, you can save them time and effort. Consequently, you can look forward to a little bit of extra money.
Supply & Demand
The more in demand a particular type of material is, the more you can expect to pay for it. That is the rule of supply and demand, and it’s always changing based on the economic conditions and business activities. For example, if a lot of people are building and construction businesses are getting a lot of work, then the value of scrap metal would be driven up.
The Time of Year
The time of year can also have an impact on how much you get for your scrap. For instance, it might be harder to mine materials at certain points throughout the year, due to environmental or weather conditions and such. In these situations, you may be able to receive a higher rate for your scrap.
Here in Australia, we’re one of the world’s largest exporters of materials such as iron ore, zinc, lead and aluminium. So, unsurprisingly, many countries turn to us for large quantities of scrap. Whether these countries are hoping to buy more or less from us, this would work to impact scrap metal prices locally.
Get Cash for Your Unwanted Scrap at Allied Metal Recyclers
Got unwanted scrap metal that you’d love to get rid of? Trust in Allied Metal Recyclers to make the scrap metal recycling process as quick, easy and convenient for you as possible. At Allied Metal Recyclers, we provide our services to a wide range of suburbs all across the Perth Metro and beyond. Moreover, we deal with both ferrous and non-ferrous metal materials. Utilising the latest sample analysis technology, we can always promise you the absolute best scrap metal prices in Perth. By turning to us, you can get rid of your old scrap metal fast, and get rewarded for doing so!
To arrange a collection bin drop-off or a yard clearance service, contact Allied Metal Recyclers now!