You could just buy a truck full of scrap metal and head to the nearest scrap yard. However, are you sure that what they offer is worth your money and the time spent loading?
The best way to make sure you get a fair price for your scrap metal is to use an online scraper yard locator and find out the information on updated prices near me. Somewhere after that, start collecting the high-value scrap metal based on the info. This is why you should always try to bargain.
Finding the best scrap metal prices nearby
You can find the nearest scrap yard with Google Maps or a locator that provides your location. Then you will see the search results on your screen.
Scrap metal prices 2022
Below is the updated chart of the best scrap metal prices from iScrap in 2022 (*national average updated 20/06/22).
|#1 Copper Tubing||$3.20/lb|
|Insulated Copper Wire||$0.98/lb|
|Bare Bright Copper||$3.42/lb|
|Aluminum Copper Coil||$1.50/lb|
|Electric Motors (Copper)||$0.22/lb|
|Electric Motors (Aluminum)||$0.20/lb|
What is scrap metal?
Basically, scrap metal is a product consisting of waste metals, metallic items, and any metal product that can be recycled after being used or as a result of the manufacturing process.
Most people think of scrap metal as piles of scrap cars, aluminum cans, or discarded building materials. Well, it’s true that the materials mentioned above are scrap metals. However, there are actually other kinds of scrap metals, and they have different values.
There are three main types of scrap metals: e-Scrap, ferrous metal, and non-ferrous metal. Non-iron metals, such as copper, aluminum, brass, zinc, tin, magnesium, lead, and nickel, are the most valuable scrap metals to be recycled.
What are scrap yards and how do they work?
Scrap yards are where you can scrap metal for recycling purposes. They function by buying scrap metals from individuals or businesses and paying them for their scrap.
The price of the scrap they are paying depends on the type of scrap metal they are buying. For example, scrap yards will pay higher prices for scrap metals that are hard to find, like scrap aluminum or copper wires.
Selling your scrap metals for the best price
- Identify, classify, and prepare the metal before heading to the scrap yard.
- Call the scrap yard and compare their current prices.
- Once you arrive at the scrap yard, move your truck/vehicle up on a drive-in scale (pressure scale).
- Scrapyard workers will use a magnetic crane or forklift to separate iron metals and non-iron metals and to remove the metals from your truck bed.
- Provide your ID, sign the papers, and get paid by check or via an onsite ATM.
What determine the price of scrap metal?
There are three factors that influence the price of scrap metal are the metal type, weight, and demand. The type of scrap metal is the most important factor to consider, as some metals are rare and more difficult to manufacture. So it makes sense that you won’t get the same amount of money for two different types of scrap metal.
The weight of scrap metal is also important because the scrap yard will measure the weight of scrap metal and pay for each pound of it. For example, a scrap yard pays more for a pound of copper craps than it does for one pound of tin scraps.
The scrap price is constantly changing depending on the overall supply and demand. The higher the demand for a certain type of metal, the higher the price for it. The scrap yards typically publish a scrap price list that customers can refer to for the current scrap prices. It’d be wise for you to read the scrap price list before you start selling if you want to maximize your profit.
What can you sell at a scrap yard?
As mentioned above, there are three main types of scrap metals:
- Non-ferrous metals: Typically iron and metals, which do not contain iron
- eScrap: Recyclable materials from electronics
- Ferrous metals: Metals that contain iron
Non-ferrous metals are considered the most valuable scrap metals. But you can make some money from ferrous metals and e-Scrap, too, if you’re okay with investing more time and effort.
|Aluminum||Non-ferrous||foils, cans, window frames, kitchen utensils, siding|
|Copper||Non-ferrous||used in wiring, refrigerant lines, heating systems, hot and cold water pipes|
|Brass||Non-ferrous||locks, hinges, ammunition casing, gears, valves, horns, bells|
|Tin||Non-ferrous||as a metal coating to prevent corrosion, such as in food cans|
|Wrought Iron||Ferrous||pipes, chains, bolts, fences|
|Cast iron||Ferrous||anchor for ships, pots, pans|
|Steel||Ferrous||cars, building framework, appliances, tools, weapons|
|Cell phones||e-scrap||entire device|
|Hard drives||e-scrap||a storage device of a computer|
|CPU chips||e-scrap||entire part|
Best way to get a lot of money from scrap metal
If you want to make money by recycling scrap metals, remember that some scrap materials are more valuable than others. In addition, the values can change sometimes, so what you got earlier may not be the same as what you got now.
The most valuable scrap metals for cash are aluminum, copper, and brass. That said, copper is the most expensive scrap metal to sell. So remember, before you throw out your trash, check out if there are valuable scrap metals that you can sell at the local scrap yard.
Differences between ferrous and non-ferrous metals
Ferrous metals are of low value to metal recyclers, but you can make money out of them if you just have enough amount. And remember that steel and iron belong to this category.
On the other hand, non-ferrous metals are the most valuable scrap metals. Aluminum, brass, copper, magnesium, zinc, tin, nickel, lead, and lead are the most popular recyclable non-ferrous metals.
How much income you earn from recycling depends on the type and amount of scrap metal you have. Here is a tip for you, magnet is used to identify ferrous metals. If a metal sticks to a magnet, it is ferrous and therefore less valuable.
Below are the top 3 most valuable scrap metals (non-ferrous) you should look out for
Copper has become more and more popular in recent years, and as a result, the price of copper has risen considerably. It can also be collected from common household items such as refrigerators, TVs, ovens, toasters, water heaters, computer CPUs and monitors, wires, and also plumbing accessories.
One of the most valuable sources of copper for recycling is a pipe. Pipes are popular to recycle because they are easy to transport and collect. We can cut a pipe easily into smaller pieces, making it ideal for reselling.
Brass is one of the most valuable scrap metals to sell. It contains zinc and copper, so it is perfect as a bronze substitute. So if you’re looking for some extra money, remember to check if you have brass in your recycling bin! Brass for recycling can be found in many common sources such as:
- Plumbing fixtures
- Ammunition casings
- Handles and railings
- Doorknobs and hinges
Aluminum is also one of the scrap metals that has a high price for reselling. One of the most popular aluminum scraps is soda cans. It is so easy to find, and it can be crushed into bundles. You may think that collecting money from soda cans is not worth your time, but remember that you can buy a glass of soda just by recycling six aluminum cans!
The source of aluminum for recycling includes:
- Metal siding
- Car parts
- Aluminum foil/trays
- Household appliances (large and small)
Tips for making more money from your scrap metal
To make money from your scrap metals, you can’t just show up at the nearest scrap yard with a bucket (or a truckload) of random scrap metals and accept whatever price they offer.
There are two important tips that you should remember when selling scrap metal:
- Be prepared to do some work in advance.
- Be willing to bargain.
First, you must sort the metals by type and put them in the labeled containers. If you skip this important step, your scrap metals will be priced based on the least valuable metal in the mixed container. You could miss hundreds of dollars without this step.
Then, you need to check the current rate of scrap metal and, if possible, wait for the price to rise to resell it. Also, when you finally show up at the nearest scrap yard, be prepared to negotiate (and prepare the reasons) to get the best payment for your scrap metal.
You may find that not all scrap yards pay the same amount for scrap metals. Sometimes smaller scrap yards offer more than the larger ones. So you should do some research into local scrapyards and determine which one offers the best price.
FAQ about scrap yard near me
How much is a dryer worth as scrap?
The price of the scrap washer and dryer is based on the weight of the unit, so a 100-pound dryer can make an average of $ 8 to $ 10. However, the price of scrap varies greatly depending on the scrap yard where you bring your dryer.
Just like mentioned above, the prices of scrap metal will be varied depending on the scrapyard. For example, scrap yards in big cities such as Los Angeles and Chicago generally pay higher than those in smaller communities in the countryside.
Are magnets valuable to resell?
Magnets are commonly used as a tool to separate metals from non-metals, but not as scrap to resell. In general, magnets are of no value unless they are rare earth magnets, but even then scrap yards only buy magnets from the whole appliances they are attached to. However, you can always call the nearest scrap yard to see if you can sell scrap metal with magnets.
Is steel worth any cash?
Stainless steel is well worth the money, but regular steel is generally not worth it because it is the least profitable scrap metal. Most scrap yards pay around $ 0.05 per pound for scrap steel. This is not a good price compared to other scrap metals such as aluminum and copper.
What home appliances have the most copper?
If you want to find house appliances with the most copper for scrap, you need to find the oldest appliances you can find. You can get copper from the wiring, and old appliances tend to have more wiring than new ones.
You can remove the copper coil from old air conditioners, dryers, washing machines, and refrigerators. And remove the copper wiring from old ovens, washing machines, and dryers. Make sure you get help from a professional to disassemble appliances containing freon.
What is e-scrap?
E-Scrap is the recycling of scrap metal from electronic devices such as computer towers, mobile phones, and DVD players. It is important to note that not all scrap yards would purchase e-scrap. So before you sell your e-scrap, make sure you contact the scrapyard first to know if they would accept it or not. Considering that there are now so many old mobile phones and computers, this could be one of the best materials to sell.
What is the difference between a salvage yard and a scrap yard?
Salvage yards and scrap yards are two different businesses. The most important difference between the two is that a scrap yard recycles metals and electronics for cash. This is the place where people can turn in old home appliances and scrap metals for money.
In comparison, a salvage yard accepts cars for recycling, salvage yards parts out the vehicles and resells these parts. This means a salvage yard will offer a better price for your unused car than a scrap yard. Furthermore, you can pay a salvage yard to break down your old vehicle for parts, which you can sell later.
What should I remove from appliances before scrapping them?
You don’t actually need to remove anything before scrapping appliances, except for those with a refrigeration system such as refrigerators, air conditioners, or freezers. Most scrap yards require the compressor of the refrigeration system to be removed from the appliances and the freon to be drained.
To maximize your profit, you should remove the compressors from the appliances and get the copper coils inside the compressors. Also, you need to cut off the power cords with the copper wiring and scrap them separately as copper scraps.