If you have scrap metal laying around, there's more you can do with it than just recycle it. That scrap metal could turn into a little bit of pocket money depending on who is buying scrap metal in your area and how much they're paying for scrap metal per pound.
But, if you've never been in the scrap metal business before, how much is scrap metal worth per pound today? Thankfully, there are resources out there that can help you determine scrap metal prices today. Let's take a look at some of the resources and see if we can find the best tools for the job.
Websites that Share Scrap Metal Prices
Just like with other markets the Internet is a great place to go to do some research. There are several websites out there that allow you to see what the scrap metal market looks like at a glance. Here are some of the big names out there in the scrap metal market:
Founded back in 2009, ScrapMonster has a plethora of scrap metal pricing info on its website. You can look over market prices for scrap metal in places like the United States, China, and Europe. They have prices for most metals in the scrap market, including different grades of steel and electronics.
ScrapMonster also has a marketplace for scrap metal buy and sell orders. This index features different people and businesses looking to sell their scrap metal at different prices. You can organize this index by location and price.
The website also features a news section, which covers new stories in the metal industry. You can use this news to better inform yourself about changes in the metals markets, giving you the chance to sell at a better price.
Similar to ScrapMonster, ScrapRegister is another website dedicated to the scrap metal industry. This website doesn't feature any prices from the European market, but they do have info on the Chinese, Japanese, and Indian scrap markets. They also divide each of these regions into smaller geographical categories.
This website also features a buyer and seller marketplace. In addition to reviewing the current buy and sell orders on the website, you can also review active trades that are ongoing as well as post your trade if you make an account on the website.
ScrapRegister also features a news section. The website also has a list of companies that deal in the scrap metal industry.
iScrap is the last of the major scrap metal market websites. Founded in 2011, this website features many of the same features as the other sites above for finding scrap metal prices today. It features the lowest number of available markets. iScrap only lists the prices from the United States scrap market on its homepage.
In addition to its news and marketplace features, the website also features guides on how to handle and prepare different scrap metals. iScrap also has a section of its website dedicated to going over the different laws and regulations surrounding the metal scrap market.
Finally, iScrap is available as an app on both iOS and Android. This way, you can refer to prices while out in the field evaluating scrap for the market.
Why Local Services are Best
While the websites listed above are a great reference point for scrap metal prices, they aren't the definitive answer to how much the metal will sell for. Ultimately, you'll have to take your scrap metal to a local junkyard or customer to sell off the scrap. This means that local sources for prices are more reliable.
First of all, the above websites tend to feature old data. The websites need revenue to stay online, so many scrap metal market sites will feature a premium option that gives you more updated price info.
Secondly, these websites act as aggregation sites for pricing. The numbers you see for these prices will be an average of what the metal has been selling for recently, not a hard and fast rule that buyers and sellers play by. These prices are used as guidelines for most folks and nothing else.
Talking to your local buyers and sellers will give you a better idea of what scrap metal prices are like for you. You'll be getting information directly from the buyer or seller's mouth, rather than relying on an average using old data.
Turn Your Scrap into Cash
While there are plenty of websites out there for scrap metal prices, the best resource you have on hand is your local junkyards and buyers. Use these websites as a guideline, and then talk to whoever is looking to buy or sell scrap in your area. Work with them to come up with a price that works for you both. A good negotiation could lead to a repeat buyer or seller!