When industrial equipment is no longer useful, it often ends up pushed into the corner, cluttering up your shop or factory. Similarly, many businesses are plagued with excess metal from old wire, fixtures, piping, signs and broken equipment. Not only is this old metal serving no purpose, it also takes up valuable storage space and can even be a safety hazard to employees or customers, potentially creating additional liabilities.
What can be done with scrap metal?
In general, you have two options if you want to deal with your scrap metal problem. First, you can pay someone to haul it away for you. A metal dealer or salvager can be found online or in a directory, and will be happy to come and remove your old metal for a fee.
Another possibility is to sell your old metal for profit, either directly or via an inexpensive subcontractor. Many people aren't aware of the fact that most commercial and industrial metal waste is actually valuable and can be sold per pound. Scrap metal prices are constantly fluctuating and depend on the type of metal, ranging from a few cents to a few dollars per pound. When selling unused industrial equipment and other large items, your profit can really add up.
What metal scrap is lucrative?
Most kinds of metal can be scrapped for money. The most common types of leftover metals in industrial and commercial settings are aluminum scrap and scrap iron. Although iron is worth much less than aluminum, it is also denser, meaning that you can profit more from scrapping an iron object than an aluminum object of the same size. Steel scrap and lead scrap, which are also common, fall between iron and aluminum in value. Leftover stainless steel tubing is a common source of scrap steel.
Scrap copper, bronze and brass, which are common in piping, wire, industrial tanks and decorative items, are particularly valuable. The specific type of copper, bronze or brass, as well as its condition and cleanliness determine its final price, which can range from about 30 cents to $1.50 per pound.
Finally, there are more unusual metal types that can be sold as scrap, including magnesium, tungsten and chromium. These metals can be found in considerable quantities in special-use equipment such as X-ray machines, and they can be worth as much as several dollars per pound.