It’s no secret that metals are some of the most valuable products in the world. These naturally occurring substances come straight from the Earth, but unlike air and water, they are non-renewable. It’s not surprising that the scrap metal market has remained viable through the years.
Factors Affecting Scrap Metal Prices
Mining metals from the Earth's crust is not only unsustainable. There is also the issue of scarcity, supply, and the costs of extraction, purification, and concentration. Because of this, most manufacturers prefer to use recycled steel and aluminium. But recycled metals are difficult to come by, too. As a result, their prices can fluctuate depending on a variety of factors:
- Quality
Like any other product, a metal’s quality will affect its price. But how is this determined?
When you look at copper, for instance, you won’t be able to distinguish which is of better quality unless you take it to an experienced recycler. But copper is classified into several grades: #1, #2, a bare bright, and insulated wires.
Bare bright copper is the most valuable type, free of any impurities and signs of tarnishing. It is closely followed by #1 copper, characterised by trace amounts of oxidation, then #2 copper, containing about 94% to 96% of the metal.
So Before You Go To A Recycler, Make Sure To Rid Your Metals Of Any Impurities.
- Supply And Demand
The law of supply and demand affects all markets, including the recycling industry. Rarer metals like brass will fetch higher prices than something common, such as steel.
- Time Of Year
Seasons can also affect the supply and demand of certain metals. During the winter, steel becomes much more valuable. This is because steel mills have trouble sourcing the metal when roads become too icy.
- The Market Value Of New Metals
What happens if freshly mined copper becomes more expensive? Generally, most manufacturers will turn to scrap alternatives instead, saving on production costs. As a result, the recycled metal will increase in value, matching the sudden spike in demand.
- International Trade
Did you know that Australia is a major manufacturer of metals and minerals? Because of this, the country supplies scraps to various countries, including Vietnam, China, and Indonesia.
These trades affect the local prices of scrap metal. For example, if China’s demand for recycled steel grows this year, its value in Australia will increase.
The Most Valuable Scrap Metals In Sydney
If you have old appliances and vehicles lying around at home, perhaps you can turn them into cash by selling them as recycled metals. It’s all about playing your cards right, taking the factors above into consideration. You can get even better prices if you sell valuable materials such as:
- Aluminium
- Stainless steel
- Lead
- Brass
- Copper
Not sure where to sell them? Contact Metal Force Recycling at 0403 191 732! We purchase a wide range of scrap metals from various sources, including home appliances, unwanted vehicles, and old batteries. We will pay you right on the spot, weighing your metals with an accurate, BBC-tested weighbridge.
About The Author
Metal Force Recycling is a licensed Scrap Metal & Car Removal company that has been in the business for over ten years now. Yasin Azimi, the Chief Operations Manager at Metal Force Recycling is a professional scrap metal merchant in Sydney; dealing in all types of scrap metals & car removal services. He tries to assist you with his years of expertise in paying the best possible cash for unwanted scrap metal, and junk car removal. This company also offers reliable service, instant cash coupled with a transparent, and a hassle-free process. In addition, Yasin Azimi provides you with the best deals that you won't find in any other scrap metal & vehicle removal company!
