One person's trash may be another person's treasure, and this axiom certainly holds true when it comes to selling scrap steel. Even through the term scrap might lead an uninformed person to think that this material was worthless, on the contrary, scrap steel does in fact have monetary value. Scrap steel is recyclable metal discarded from vehicles, building construction and surplus materials, and this market represents an average export value of $10 billion annually.
Prices paid for scrap steel will fluctuate from month to month depending upon supply and demand. Prices paid will also vary depending upon the location where the scrap steel is purchased as well as the quality or grade of the scrap steel being offered for sale. Any individual who wants to sell scrap steel would be wise to check a variety of local recyclers and scrapyards to get some idea of the current going rate for scrap steel by the pound or the ton and what sales trends have been in that particular market. In other words, have prices been constantly falling, holding steady or steadily climbing upwards. The business of selling scrap steel is sometimes a waiting game to find just the right buyer at just the right price, which may not be happening today.
The most economical way to sell scrap steel is to build up as big a load as possible prior to heading to the scrapyard or recycling plant. Scrap steel must be hauled to the buyer on a dump truck, pick-up truck or trailer, especially if you are selling very large pieces like rusted out car shells and very large pieces of equipment or machinery.
Scrapyards that purchase scrap steel will purchase by weight rather than by the piece, and scrap steel sellers must have their load weighed on truck scales prior to the sale. First your vehicle will be weighed carrying the scrap steel, then the scrap will be unloaded and your vehicle will be weighed again so the determination can be made for the weight of the scrap steel you are selling, which is taken by deducting the second weight from the first.
Be sure that the scrap steel you are selling isn't mixed in with other material, or the scrapyard may refuse the whole load or you will have to pick through it to separate steel from other metals.
Many scrap steel sellers purchase loads of scrap steel to resell by purchasing lots at government liquidation sales and auctions held to get rid of surplus vehicles, machinery and other items containing steel.