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GET WEIGHED & GET PAID AT SMITH IRON & METAL

We Recycle:    Aluminum - Appliances - Brass - Copper - Electronics - Steel - Wiring - And More!

How We Determine Scrap Metal Pricing

Scrap Metal PricingThe most frequently asked questions we hear day in and day out revolve around scrap metal pricing.  How are aluminum prices determined? Why were copper prices higher last Tuesday vs. today? Why didn’t you pay me more for my steel? While we’ve been considered the premiere recycling center in Richmond for quite some time,  we are a small player in the worldwide market.  Thereby,  we certainly do not have all that much impact on how worldwide scrap metal prices fluctuate!

The truth is, scrap metal prices are determined by a number of factors. The Comex and London Metal Exchange indexes as well as general economic supply and demand principles are the primary determinants of price. These two exchanges act very much like the NASDAQ or NYSE….when prices for steel rise, scrap yards tend to sell and therefor are willing to pay your more for your steel load.  On the flip side, when prices for copper fall, scrap yards will hold their inventory in hopes that copper prices will soon rise.

Economic and market factors here in Richmond do, however, also play a small part in the price we can offer you for your scrap metal. Even so, we still get calls and inquiries daily about what a load of insulated wiring is worth, or how much we will pay for a van full of steel.

Contact Us to Get an Exact Scrap Metal Pricing Quote!

It can be complicated, but it doesn’t have to be! Just give us a ring! We’re happy to let you know what we’re paying on any given day for your scrap. If you have any specific questions, call us at 804-271-1239, send us a message on Facebook, or contact us online!  If you have any questions on what materials we do or do not buy, click here to find a complete list. We look forward to seeing you soon!

 

 

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