Industrial manufacturers and other companies that generate scrap metal in their processes generate significant revenue by selling that scrap back to their recyclers. But is it enough? Probably not. Time and time again, during our complementary audit of waste and recycling programs, we find ways you can increase the monies earned from their metals recycling programs.
Here is a summary of the best practices for metals recycling. If you're not following all these steps, chances are you're thowing money out with your metal:
- It's critical to learn your grades of metal. There are over 100 different grades that are highly specific, and pricing is different for each grade. For example, aluminum extrusion is very different from aluminum sheet, and if you’re just sending out “aluminum,” your pricing will almost certainly reflect the value of the less valuable grade.
- Never dilute your metals. Each grade, no matter how small a quantity, should be handled individually.
- Grade and weigh all your recyclables before it's collected by your hauler. Recyclable metal is a valuable resource and should be treated as inventory. Download our free white paper "7 Proven Ways to Increase Recycling Revenue" to learn more about how to set this up.
- Your recycler should pay you on your own grades and weights. Any errors he discovers should be documented and sent it to you within 24 hours for discussion.
- Challenge your pricing every quarter. Ask your recycler if the current prices you are receiving reflect current market prices, and call other recyclers to ask for current pricing to verify.