What makes scrap metal such a great commodity is that, as opposed to waste, is its economic value. After leaving a job site, there are always salvagable parts that can help earn you or your business some extra cash. That’s why each and every day here at Sgt. Scrap, we receive scrap metal from individual scrappers, plumbers, and even electricians.
They come to us because they know that we pay cash for scrap metal in the Philadelphia area. But have you ever wondered what exactly affects the value of your scrap metal? You’re certainly not alone. Below you’ll find three factors that play a part in the value of your scrap metal.
Supply and Demand
We’re not here to turn this blog post into an economics class. However, supply and demand does play a significant role in the value of your scrap metal. When businesses are flourishing, demand is higher, and naturally, when there is a decrease in raw materials, demand will be lower.
The Price of Metal
Another way the value of your scrap is affected is by the market price of certain metals. When the market price of metal rises, that means the price of the respective scrap metal will also rise. This means if you are holding on to certain pieces of scrap metal, and the market value of that metal increases, so will your payout at the scrapyard.
Quality of Scrap
The quality of scrap metal is an important factor when it comes to determining scrap pricing. It contributes to additional value for your scrap. The larger the amount of scrap you supply us with, will yield you higher value on your scrap metal.
Now that our brief Economics 101 lecture is over, we want to remind you that here at Sgt. Scrap we are known not just for great rates on scrap metal but also our reliable and fast pick-up. With our mobile scrap metal pickup in Hudson County, we’ll bring the scrap yard right to you, and still pay the same rates. Give us a call today at 800-833-6983 to schedule a pick-up date.