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Scrap Metal Prices
Finding scrap metal and taking it to a recycling centre is a way to make extra money. Scrap metal prices in South Africa are driven by the market. They change continually and are not set. Metal scrap prices fluctuate based on demand for certain products such as copper wire and bulk steel. After the scrap is taken to the recycling centre, it may be melted into a solid form and then shipped to its final destination. Sometimes it is shipped to another facility for smelting into the final form.
About Metal Prices
Recycled metal prices change on a daily or sometimes hourly basis. The only way to find out current prices is to call the recycling centre and ask them about what you have to sell. Scrap metal prices in South Africa are influenced by global demand because much of the scrap is shipped to processors in South America. When new products are developed that use a certain metal, prices for that item rise.
Classes of Scrap Metal
Scrap metal is divided into several different categories. The first major division is between ferrous and nonferrous metals. Ferrous metals are those containing iron or steel. You can tell if you have ferrous or nonferrous metals by using a magnet. If it sticks, it is ferrous, if it does not stick, it is nonferrous and is some other type of metal. These two major categories are then subdivided into similar groupings. For instance, copper wire is divide into single strand copper wire and cable. This is a different grade of scrap metal and will bring a different price.
Collecting scrap metal can be profitable. One must check daily prices to find the current price. Ferrous metals tend to bring more than nonferrous metals, except for precious metals such as gold, silver, and platinum. Prices are typically paid per kilogramme me of scrap metal. Some recycling centre will take fractions of this unit, but many have minimum amounts that they will accept. They also have different requirements as to how the metal should be processed. For instance, some will take copper wire unstripped and some want the outer coating removed. It is always best to call the centre to see what their requirements and minimums are for the day.