{"id":2638,"date":"2023-05-25T01:49:22","date_gmt":"2023-05-25T01:49:22","guid":{"rendered":"https:\/\/iplantmachinery.com\/au\/?p=2638"},"modified":"2023-07-30T23:34:46","modified_gmt":"2023-07-30T23:34:46","slug":"selling-scrap-steel-how-to-get-the-most-money","status":"publish","type":"post","link":"https:\/\/iplantmachinery.com\/au\/selling-scrap-steel-how-to-get-the-most-money\/","title":{"rendered":"Selling Scrap Steel – How to Get The Most Money"},"content":{"rendered":"

If your business is in heavy machinery or any machinery industry<\/a>, you will be familiar with scrap metal.\u00a0 This is an area often overlooked when you\u2019re doing income streams.\u00a0 But if you can start selling scrap steel.\u00a0 You might be in for a pleasant fiscal surprise.<\/p>\n

Selling Scrap steel and machinery, go hand in hand really.\u00a0 After all the machinery you have in your fleet, at some stage will move or become it so it is sensible to try to understand it better.<\/p>\n

What is Scrap Metal<\/h3>\n

Put simply,\u00a0scrap metal<\/em>\u00a0is the combination of waste\u00a0metal<\/em>\u00a0and any product that contains\u00a0metal<\/em>\u00a0that is capable of being recycled from previous consumption or product manufacturing. … These\u00a0scrap metals can <\/em>be re-used again and again.\u00a0 They are the definition of recycling in a practical sense.\u00a0 It requires considerable processing however to get raw scrap metal into a \u201cnew\u201d reusable state.<\/p>\n

When it comes to selling scrap steel, it is a good idea to keep the processing aspect of it, at the forefront of your collecting.\u00a0 This will be reflected at the scrap metal yard; in terms of price, you can achieve.\u00a0 It takes organization and a reasonable grading technique.\u00a0 And is worth the extra effort.<\/p>\n

There are over 40 different categories of scrap metal at a dealership and this can become daunting.\u00a0 You are not a professional scrap grader after all.\u00a0 Operator, yes, but with a completely different skill set. These categories are then divided into 2 predominant distinctions.<\/p>\n

Ferrous Metal – (HMS1)<\/h3>\n

This is the overall category that steel fits into.\u00a0 Ferrous is used for metals that have a higher percentage of iron in them.\u00a0 And these metals are the most common because they are used in all domestic and industrial buildings.\u00a0 In fact, the growth of steel production indicates the overall development of the industrial world.\u00a0 As traded on the London Metal Exchange since 1877.<\/p>\n

To confuse matters further, we have to break down ferrous metal into several categories when selling.\u00a0 The main 2 categories for generating income though will be under HMS1 (1 & 2).\u00a0 HMS1 is fundamentally defined by the fact that it does not include galvanized and blackened steel.<\/p>\n

Every scrap merchant will have their own grading standard, so get familiar with some of them to get a consistent standard that you can work with. This will ensure you get the best price you possibly can. \u00a0The main 2 categories you will need to know are:<\/p>\n

HMS1 is separated into two codes itself which relate to the size of the pieces of scrap metal that you can sell and recycle. These codes are designated ISRI (Institute of scrap recycling industries), and for HMS1, are as follows:<\/p>\n