Scrap metal prices are constantly fluctuating throughout the market and can be frustrating for individuals and business owners looking to sell them. Certain scrap metals are viewed as more valuable than others and can be sold for a significant amount of money. It all depends on three important factors: quantity, quality, and timing. Ferrous metals recycling yards may also have different standards on the type of metals to accept and buy. Despite that, those three factors are key to helping you find the right people to buy your scrap metal. We service a wide area including Abbotsford, Langley, Surrey and Chilliwack.
Fraser Valley Metal Recycling is a scrap metal yard in Langley that serves as a reliable spot for BC residents to unload their ferrous and non-ferrous metals safely. To help you sell off your excess scrap metal for a profit, we’ll go over the quantity, quality, and timing factors that determine how much you can get. We’ll detail how metal prices can go up, how often they change, and how we can give you the fairest prices on the market.
Quantity — What Makes Scrap Metal Prices Go Up?
There are a variety of reasons why scrap metal prices can go up or down, but it all goes back to the laws of supply and demand. This affects any type of business or industry when you try to sell metals to scrap yards. If metal is in high demand, but there’s low supply, it’ll fetch a higher price. If the metal is common and in low demand, it’ll sell for a lower price.
It’s crucial then to start paying attention to trends that can help you sell metals for a higher profit, much like trying to read the stock market. For example, when you check out scrap metal prices and notice the ones you have are in low supply, hold on to it a little longer until the selling price goes up and do so before supply and demand are met.
If you do choose to sell common metal, sell them in bulk. Quantity is everything in the scrap metal business. You’re more likely to negotiate a higher price for large amounts of metal rather than a few separate pieces. This is more convenient for scrap metal yards because buying in bulk reduces transportation costs. Moreover, it’s the best way for you to get the most money for your scrap heap because you get better pricing.
While the quantity of your scrap metal collection is important, the quality of it matters as well when the prices often change.
Quality — How Often Do The Prices Change?
Before selling your scrap metal, you should know the different types you’re pawning off to know how much you’ll be getting. Metals are generally classified as ferrous and non-ferrous.
Ferrous metals contain iron and can be mixed with other metals to create new, different materials such as stainless steel, cast iron, and carbon steel. The chromium elements in stainless steel are very durable and resistant to corrosion, making it a valuable material for kitchenware.
Non-ferrous metal, on the other hand, doesn’t contain iron and won’t rust or corrode in most conditions. They are more sought after than ferrous metals because of the high value to scrap metal buyers. Examples of this include brass, tin, copper, aluminium, and lead. Despite this, large amounts of ferrous metals can also fetch a good price.
The quality of the scrap metal you’re looking to sell will affect the price you’ll be given for it. If the metal is corroded or covered in insulation or residue, you’ll be given a lower price. Moreover, if you just give a mixture of metals without organizing them, you’re unlikely to get a large payout. By taking the time to clean your metals before hanging them over, you’ll be saving the scrap yard extra hours of labour and be rewarded with a higher sale.
As we mentioned previously, metal prices are always changing and this affects how much money you’ll be able to sell them for. For example, if the price of new copper rises, companies will look to switch to using recycled copper to save money. This in turn causes the price of scrap copper to rise in order to match the sudden demand. It’s always about supply and demand, so be sure to routinely check the trends of new markets and observe how the price fluctuates.
Timing — How Is Fraser Valley Metal Recycling Giving You The Fairest Prices On The Market?
At Fraser Valley, we pay the fairest prices on the market for ferrous and non-ferrous scrap metal. The best time to sell your metal is when the weather is nice because that is when metal is in high demand from construction companies and manufacturers. They’re able to work in those conditions and offer top dollar for the material. If you’re looking to unload any scrap steel, their prices can go up during the winter as well.
We pay according to up-to-date market analysis and demand for certain types of metals. Drop by our location today and clean out any excess metal around your home or property and make money while reducing your carbon footprint!