Scrap metal prices depend on a few different factors including metal type, location, quantity of scraped metal and, for the most, current market value for specific metal. This means the price you get paid will depend on what you are selling, where you are selling, how much you are selling and how much specific material is worth once refined.
Scrap Metal Type
Scrap metal can be broken down into many different types of metals. There is copper, led, stainless steel, aluminum… and the list goes on and on. Each of these categories can then be further sub-categorized into specific types of each metal. Different category of scrapped metal yields a different price and the way your metal gets categorized depends on the scrap yard you are at.
Just like any other commodity, price depends on location. Prices will be highest in areas there is the most competition. Prices will differ if you are on one side of the state or one side of the country depending on the competition around you.
Quantity of Scrap Metal
This factor is fairly self-explanatory, the more metal you have the more it is worth. Although there are tactics to get the most out of your quantity of scrap metals, for the most part the more scrap metal you have the more money you will receive.
Current Spot Metal Prices
Current market value of metals plays a large role in determining the prices of scrap metals. A lot of factors go into what the current market value for metals is. It depends on the world metal market and what is happening in the economy at that moment in time. Spot prices are the prices that newly refined ore and scrap is currently being sold for. The more money the scrap metal is worth once refined the more money you can hope to get for it.
There are many elements that determine scrap metal prices, if you are not sure how much your scrap metal is worth do not hesitate to call us or stop by our location in Everett, MA to get professional advice or quick evaluation.