10 Ways To Make Money From Scrap Metal | $200/Day

How To Make Money From Scrap Metal

Trading in Scrap metal is a great way for you to make money while helping to protect the environment by recycling your waste.

There are different ways to make money from scrap metal. But you have to know what types of metal you need and how to sell it.

I know you will be wondering what kind of scrap metal is and how it can be functional. The thing is, scrap metal can be an appliance, object, or machine. Even if it is damaged or no longer functional, it still contains valuable metals.

So, in this article, we will mention different ways how you can make money from scrap metal for $200/day and the types of metal to sell.

Where Can You Find Metal?

You can find scrap metal everywhere. Sometimes, people just throw them away because they don’t know the value of it.

You can go from door to door to give out flyers letting people know that you collect and scrap metal and would be happy to take it off of their hands. If circumstances allow it, you can go into buildings and demolition sites to collect metal.

But you must always have permission to go in, if not you could be prosecuted for theft because the property isn’t yours.

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What Are The Materials You Will Need For Scrap Metal?

Actually, you don’t need much to get started. Here is what is you need.

  • A Magnet: This is the handiest tool for scrappers. You’ll use this to distinguish ferrous from nonferrous metals. If the magnet is drawn to the metal, it’s most likely ferrous. A pocket-size magnet does the trick well.
  • You will need something to collect the metal like a truck, a barrel, a cardboard box.
  • Also, you need to have knowledge of the different types of metals.

What Is The Difference Between Ferrous And Non-Ferrous Metals?

Ferrous metal and alloys contain iron (Fe) and nonferrous metals do not. This is why a magnet is the most important tool in separating and collecting metals.

If your magnet sticks to a piece of metal, chances are it’s ferrous. If it doesn’t stick, chances are it’s nonferrous.

The reason I am stating this is that there are different prices between the two; nonferrous metals often pay more per pound than ferrous metals do. So if your magnet doesn’t stick, you’re looking at a little more cash in your pocket.

Examples of Non-Ferrous Metal

  • Aluminum: Window frames, building structures, roofs, airplanes, trains, boats, cars, and trucks. It is also used in smaller vehicles like bicycles, motorbikes, and other mobility devices such as wheelchairs.
  • Bass: The most common scrapped are valves and pipe fittings. Some other items made from brass include bullet casings, faucets, doorknobs, and light fixtures.
  • Copper: Copper pipe, wires, circuits, switches, and electromagnets. Also, plumbing fittings and pieces are found in refrigeration units, air conditioners, and water supply systems.
  • Lead: Lead is used in different applications from the piping to wheel weights.
  • Stainless Steel: Even though it contains 70% iron, it is considered a nonferrous metal and fetches a higher price. The reason is that it is made using a minimum of 8% nickel. Stainless steel can usually be found in appliances and kitchenware and some automotive and aerospace technology. It will probably look like regular steel, but will not draw a magnet 

Examples of Ferrous Metal

  • Automobile: you can scrap an entire vehicle that is not working if you want. But before then, it is better you strip off anything that is non-ferrous metals because you will get more money from them. Also, Empty the liquids from the car sucks because most scrapyard will need you to bring the vehicle empty.
  • Washers, dryers, heaters, and other appliances.
  • Structural steel like prepared I-beams, channels, angles and/or plates, steel girders, and structural steel from demolition scrap.

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Ways On How You Can Make Money From Scrap Metal | $200/Day

Depending on the types of scrap metal you want to collect. Here are some ways on how you can make money like $200/day from scrap metal.

#1. Scavenge Roadside Item

This is one of the ways you can get $200 per day.

There are many old kitchen range languishing in a ditch or random items that have been abandoned in the streets because they’re too large to transport to a tip.

So, you can easily scavenge and raid these items for scrap metal. Even items that are rusty and have been crushed will still contain the metal elements you want to sell.

Note: Never take anything from private property unless you are asked to do so because that is trespassing and theft.

#2. Selling Old Plumbing

You can also get $200 per day by selling your old plumbing. Fixtures and electrical parts from your plumbing are a wealth of valuable metal. So, you can sell old drains, faucets, pipes, and the wiring that goes with them at scrap yards.

#3. Major Appliances

You can also make up to more than $200 by selling large household appliances like washing machines, refrigerators, and freezers as scrap.

So, if you have broken items or old items you want to replace, that is perfect because they will be worth more for their scrap metal than they will be as used or broken appliances.

Note: Don’t forget the copper elements in the power cords.

#4. Auto Parts

You can salvage and sell old auto parts as scrap to get $200 or more. Car parts that no longer work are very valuable as they are usually made almost completely from metal.

There are often different types of metal within parts, so take them to pieces and sell them separately–you will get more money.

#5. Household Items

You can sell many defunct household items for scrap. Everyday items such as broken Christmas tree lights that contain valuable copper components and toasters that contain copper wiring and usually have a steel body.

Note: Remove non-metal components like plastic casings and you will get more money.

#6. Get Money By Recycling Old Appliances

Another way people get money from scrap metal is by recycling old appliances. They find free appliances curbside and bring them to recycling centers.

So, if you choose this option, you will need a way to haul the appliances. This option will get you $200 or more per day.

#7. Get More Money By Repair Old Appliances

Repairing old appliances is one of the ways people make money from scrap metal. To achieve this, you will need to find appliances people are giving away.

If they’re repairable, you’ll need to repair them and resell them for a profit. To do this side hustle, you will have to know or learn about appliances repair.

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#8. Get Money By Collecting Aluminium Cans

Some people make money from scrap metal by collecting aluminum cans. So you can start by collecting cans you use at home, and from friends and family members who drink a lot of canned beverages.

You will need to have a lot of cans to make your work and trip to the recycling center worth your time and to get more money because aluminum cans fetch so little at recycling centers.

In other to get $200 or more per day, you need to collect more cans from your workplace or other sources.

How Much Does One Make In Scrapping Metal? 

The amount of money you make depends on whether you have a connection to a business that generates scrap regularly. Also, know that market prices are always changing base on supply and demand.

Here are some rough numbers to work from:

  • Light iron and other ferrous metals: $.06-$.10 per lb, but they are more commonly found, so it’s easier to get more weight.
  • Copper: $2.65 per lb.
  • Insulated copper wire: $.90 per lb.
  • Brass: $1.60 per lb., so
  • Stainless steel: $.42 cents per lb.
  • Aluminum: $.50 cents per lb.

It is not uncommon for a scrapper to make up to $200 or more a day from their hauls. All you need is more work and metals to extra cash.

CONCLUSION

Collecting scrap metal can be a worthy side hustle option if you do it in a way that is easier for you. This might mean doing any of the ways mentioned above like recycling old appliances or collecting aluminum cans.

Also, scrap metal is worth doing because you can make more money from it by getting $200 or more.

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