For those who are interested in learning how to sell scrap metal right here in the State of Massachusetts, there are often a lot of questions about how to get started. Of course one of the first questions is about which is the best scrap metal to collect, which is then followed up by questions about where to sell scrap metal in Westport at Mid City Scrap Iron & Salvage. Once you learn more about the different types of ferrous and non-ferrous metals that are collected and sold, you will begin to determine what is commonly available in your area and what types of metals will bring you the biggest payday for your efforts.
How Lucrative is Scrapping?
The act of collecting scrap metal to sell for a profit is known in the industry as scrapping. That being said, the average person with a good sized pick-up truck and enough time to collect scrap metal on a regular basis can make approximately $40,000 a year if they work at it on a full-time basis. Part-time scrappers can easily make $15,000-20,000 per year, which translates to about $300 a week in extra cash.
So just how lucrative is scrapping? The answer is – it depends on you. Your results will depend on your willingness to learn all that you can about the different types of metal, where it can be found, the amount of time you are willing to invest in collecting scrap metal and your ability to find the best valuable metal and copper prices in Massachusetts.
What is the Best Scrap Metal to Collect?
When it comes to determining which type of material is the best scrap metal to collect, the answer can be quite relative to the person doing the collecting. On one hand, valuable metals, such as copper and brass, are worth a lot of money. On the other hand, they aren’t found as commonly as other metals, such as aluminum, steel and iron. What that means is that it is possible to collect a larger quantity of other metals and bring them in where you sell scrap metal in Westport and make as much money as you would if you only choose to collect higher valued metals on a smaller scale.
Many scrappers will pretty much take anything that they come across and separate it out at home before bringing it in to sell, while others do prefer to focus on certain types of metals. If you are going to specialize in a certain metal, such as copper for example, you will want to stay on top of the going rates so you can maximize your earning potential. The rates vary depending on the scrap metal market, so many dedicated scrappers follow the market and call in to their favorite scrap metal facility before they go to sell scrap metal in Westport so they know what to expect. In other words, if you are going to sell copper, then you should always know where to go to get the best copper prices in Massachusetts, regardless of the market.
What Are the Trends in the Scrap Metal Industry?
Supply and demand are still the two biggest influences on the going rate for the various types of scrap metal. Prices can change depending on trends going on in the industry right here in the United States and around the globe. Scrap metal is currently one of the largest exports in all of North America and has been for the last 5-10 years. Its popularity has risen in recent years due to increases in demand from countries in the Asian market, as technology and industry has grown in those countries.
Copper has risen greatly in the last fifteen years, selling at around 50-cents a pound back in 2000 and rising up to peak at around $2.80 a pound just six years later, while stabilizing at around $2 a pound today. In contrast, lead scrap is still selling at around 30-cents a pound. It pays to know the average going rates for different types of metal or at least have an idea in your head as to the value. Some of the cheaper metals are iron, tin and lead, while some of the mid-value metals include aluminum and zinc. The most valuable scrap metals to collect currently include copper, chromium, tungsten, cobalt and nickel.
Where to Collect and How to Sell Scrap Metal?
The area that you live in and collect from will determine the type of scrap metal available for you to collect. Some scrappers say that the best scrap metal to collect is the type of metal that is most prevalent in your area. So if you live in an industrial area where there is a lot of steel, iron or lead scrap, you should focus on those areas. If you live in an area where there are a lot of service-related industry, such as computer repair, HVAC, electrical and plumbing businesses, you will want to focus on the type of scrap metal you can gather from these business connections.
The best way to sell scrap metal in Westport is to go to Mid City Scrap Iron & Salvage. With nearly 80 years of experience helping Southeastern Massachusetts and Rhode Island residents to learn how to sell scrap metal and providing the best copper prices in Massachusetts, Mid City Scrap offers a wide range of opportunities for scrappers. Contact our local office to check on our scrap metal prices before you come in and make sure to sort your valuable collected scrap metal in order to maximize the return on your investment.
For specific information on what to expect, check out our website for more tips and for an overview of how we do things at the scrap yard. There’s a lot going on at Mid City Scrap each and every day, so the more you know before you drop by, the easier it will be for you to get in, sell scrap metal in Westport and be on your way. Call today for information on our hours, directions to our South Coast location or for information on the current rates being given for scrap metal in Massachusetts. Call Mid City today at 1-800-334-4789.