5 Tips To Maximize Scrap Metal Sales From Your Business Waste
If your business produces a lot of scrap metal waste, you can recoup some of the costs by selling the scrap metal to a buyer. The following tips can help you maximize the amount of cash that this technique can generate.
1. Protect
It's no secret that scrap metal has value, and it could get stolen for profit. Make sure the scrap collection site is protected against theft. You can use a locking dumpster to keep out intruders, or you may want to collect the scrap in a fenced-in and gated area. Generally, it is best to shield the scrap from sight in order to reduce the temptation to thieves.
2. Sort
You can optimize the value of the scrap metal if you pre-sort it by metal type before taking it to the scrap buyer. The buyer will often pay more for sorted metal since it saves them time and effort. If you use several different buyers, then sorting ensures that you take the scrap to the buyer that will pay the most for the particular metal.
3. Plan
Loss of scrap income can occur if protocols are not in place to help employees identify valuable scrap and process it correctly. Develop a plan for your business, and then take the time to train every employee on how to implement it. This will minimize or even eliminate scrap value loss through improper disposal or poor scrap recycling preparation. By making scrap recycling part of your normal operating procedures the processes required will become second nature to your staff.
4. Monitor
Even if you only work with one scrap buyer, it is a good idea to monitor other buyers in your area or industry. Tracking current pricing can help you negotiate with your buyer over the purchase price of your scrap, thus ensuring that your company receives the maximum value for the metal. You can also make educated decisions about whether to switch buyers or diversify your buyer pool if you know what the going price is for the scrap from a variety of different buyers.
5. Specialize
For businesses that produce different types of metal scrap, it makes sense to use specialized buyers for some types of scrap. This is especially true if your business produces rare earth metal scrap, such as neodymium magnets. Selling different scrap metals to different buyers can help you maximize scrap metal profits.
Contact a scrap metal buyer, such as Langley Recycling Inc. LLC, to learn more techniques and strategies to optimize scrapping as part of your business's waste management plan.
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