How do we determine the value of scrap metal?
It can be confusing to understand the fluctuating value of scrap metals. However, below we’ve put together a list of some of the main factors to consider when scrapping metal for cash:
The Relationship between Global and Domestic Scrap Metal Markets
The UK is one of the five largest exporters of scrap metal on the planet. However, it’s not just the domestic market that influences its price, the international market also plays a key role in influencing the value of metals in your local scrap yard.
Supply and Demand
This concept weighs heavily on the value of scrap metal. The pace of the UK construction industry can also play a part, for example when the industry is running low, the demand for scrap metals will decline. However, if the industry is booming it can become more of a precious commodity.
Ferrous Vs. Non Ferrous Metals
You may have read about ferrous and non-ferrous metals in one of our previous posts but did you know that the most valuable scrap metals for recycling are non-ferrous? Most commonly, aluminium, copper, brass and lead. To learn more about if your scrap metal is ferrous or non-ferrous, click HERE.
How Can We Help You?
To learn more about how CJ Metals can help you make some money from your unwanted scrap metals, call us today on:
Wakefield: 01924 273649
Keighley: 01535 669889