How The Scrap Post Works
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Scrap yards purchase the scrap from businesses like construction companies and/or individuals. When individuals bring in their scrap metals it is sorted by metal type, put into separate containers, weighed on a scale, then sold to the scrap yards for a price negotiated between the individual and scrap dealers. It is the responsibility of the seller to know the type and going rate for the metal before they go to the scrap yard. Remember, this is a business. If the scrap yard can make more money telling you it’s #2 Copper instead of #1 Copper they might do that. It is essential to check the daily prices (TheScrapPost) and get familiar with your local scrap yards. Be an informed seller.
When a larger company sells their scrap metal to a scrap yard, it is typically sorted beforehand with prices pre-negotiated. Since companies will typically bring in larger quantities of metals, larger variety metal types and more valuable metals, they will receive more money then individuals for each trip to the scrap yard.
Once the scrap yards gather enough of each metal type to sell, they are able to package it by the truckload and sell it to refineries. Refineries have contracts to buy from reputable scrap yards around the world in bulk quantity.