09 Jul Determining the Value of Scrap Metal in Hillside
Are you looking to recycle some of the scrap metal items that you have laying around your house? Wondering what you can get in return for these items in Hillside, Illinois?
The fact of the matter is that scrap metal prices change over time, and there are a number of factors that contribute to this change. Below, we’re going to get into the fine details of scrap metal pricing, helping you to understand which recyclable metals carry the greatest value.
The Biggest Influencers of Scrap Metal Value:
The payment you’ll receive for a specific piece of scrap metal is not based on any one factor, but on the confluence of many. These factors include:
Supply and Demand
One of the main determinants of scrap metal prices is supply and demand. The greater the demand is for a specific type of metal, the more a metal recycling company will be willing to pay for it. If an in-demand metal is particularly hard to come by, its recycling submission price will increase substantially.
For example, because it is readily available, iron yields only a small monetary return. Copper, on the other hand, is harder for recycling companies to get their hands on. Because of this, it yields a higher monetary recycling return.
The quality of the metal being recycled is also a big factor in its monetary value. Items that contain many non-metallic materials (such as insulation, plastic, wood, etc.) offer less value than items that contain only metal. In other words, the fewer non-metallics an item contains, the higher the quality and price of that item.
Another large influencer of scrap value is location. For example, some locations might have a greater need for copper than other locations do. The higher the need a location has for a specific type of metal, the more money recycling facilities in that location will pay for such a metal.
Locational needs can change over time. If you want to get an idea as to what metals specific locations demand at a given time, you can simply call a local recycling center and ask.
Generally speaking, recycling centers will pay more for metals during the winter than they will during the summertime. This is particularly true in cold weather areas, as cold weather, ice, and snow prevent metal recyclers from finding and scrapping at the same pace they can in warm weather.
What Do Specific Types of Scrap Metal Usually Go For?
Maybe you’re looking for some ballpark monetary figures on different types of recyclable metals? While metal prices are always fluctuating, we can give you some rough estimates for different types of metals.
Please note, however, that it’s impossible to give an accurate, static estimate over time. In other words, take into consideration that these estimates will vary as the market changes.
Traditionally, iron yields the smallest return, paying out around 6 to 10 cents per pound. Next is stainless steel, paying out around 40 cents per pound. Following that is aluminum, paying around 50 cents per pound.
From there, prices increase substantially. Whereas insulated copper will pay around 90 cents per pound, non-insulated copper will pay around $2.65 per pound. Brass also yields well over a dollar per pound, rewarding around $1.60 per pound.
Looking to Recycle Scrap Metal in Hillside?
Do you have scrap metal items that you’re hoping to recycle? Are you looking to recycle those scrap metal items in Hillside? If so, Central Metal Recycling can help.
We are Chicagoland’s premier scrap metal recycling company, having helped thousands of individuals and businesses with their metal recycling needs. Whether you’re looking to recycle aluminum, copper, brass, steel, or some other type of scrap metal, we are the company to see.
Contact us now to discuss your metal recycling needs!