We’ve all seen the ads that tell us how valuable our old electronics are. Assuming you have a stack of old electronics—which, you probably do—you might be wondering how much you can really make from selling, say, that old cell phone? Is your old beat up printer, keyboard or UPS backup battery really worth something?
And if your old electronics really are worth something, does the value fluctuate depending on what part of the country you’re in? Is that dilapidated Apple II that’s been sitting in your basement since 1985 worth more in Vermont than it is in Kansas? Are the cost differences for scrap metal pricing across the U.S. large enough to incentivize traveling to sell your scrap metal?
Well, it all depends. Let’s take a closer look at the numbers.
How Scrap Metal Pricing is Determined
Overall, the prices for metal scraps do fluctuate according to market value. To point, Denver-based All Recycling, Inc—one of the largest scrap metal recycling processors in the Rocky Mountain Region—states clearly on their website, “Prices are adjusted daily according to the various metals markets. We adjust our prices daily to ensure our customers receive a fair price.”
So, how are these prices determined? There are a number of factors, just a few of which are listed below:
Supply and Demand
As with any industry, when supply is low and demand is high, prices soar. When supply is high and demand is low, prices are reduced.
While the price of copper, for example, might be $4.00 a pound, an individual should not expect to sell their copper for that price at a scrap yard, as their commodity is most likely toward the end of its life cycle.
You may be able to negotiate a better deal if you have a large quantity of scrap metal to sell.
The more competitive the scrap yard, the more competitive the prices. While you may live very close to a scrap yard, you may find it’s worth the extra time spent driving to a location that offers a better price.
Scrap Metal Costs Across the U.S.
Aluminum scrap prices vary only slightly from the West to the Midwest to the East Coast.
Of course, the greater the quantity of scrap metal that you have, the more of an impact the difference of a few pennies per pound could make. Let’s say you have 200 pounds of the aforementioned red brass: The end-all pay-out per pound would differ just a bit across the U.S. regions: $332, $324 and $330, respectively. Bump that quantity up to 2,000 pounds and the reimbursements become $3,320, $3,240 and $3,300.
It’s fairly apparent that traveling across the country from the West to the East Coast wouldn’t make sense for a $20 difference. Though, if you’re located in the Midwest and near an East Coast scrap metal location, it may be worthwhile to travel for that extra $60. And if you’re based in the westernmost edge of the Midwest, spending $80 selling 2,000 pounds of red brass scraps in a more-West state could be a big bonus—depending on travel and fuel variables.
The best way to accurately crunch the numbers is to determine what is important to you. Are you interested in the biggest bang for your buck? Are you interested in doing business with recyclers that are environmentally conscious? Keeping these factors in mind, research the scrap metal recyclers in your area and get in touch with them for a quote. Getting the best deal means you’ll need to do your research, call around, and compare.
There are also several online resources available to help you compare pricing. Iscrapapp.com is a nationwide scrap yard directory that allows you to research locations and scrap metal pricing in your area. Scrap Monster is a resource that not only lists out the most recent scrap metal pricing, it also provides the latest in scrap metal news, careers, events, and even allows user communication through the use of online forums and discussion boards.
For more information on the importance of recycling scrap metal and to learn about recycling systems and equipment, contact General Kinematics today.
*All scrap metal pricing is based off of the Oct 2015 U.S. averages, as listed by Scrap Monster.