What Affects the Value of Scrap Metal?
Just like any other commodity, scrap metal in Edmonton rises and falls in value over time. If you're interested in scrap metal recycling in the St. Albert and Edmonton areas, then it's important to understand why the price fluctuates as it does. At General Recycling Industries Ltd., we provide recycling services in Edmonton as well as recycling tips and information for our clients. Here is a guide to the four main factors affecting the value of scrap metal in Sherwood Park, St. Albert, and Edmonton.
1. Supply and demand
The largest factor affecting the value of scrap metal is supply and demand. During times of economic growth and activity, the construction, transportation, and tech industries will demand large amounts of scrap, causing its value to increase. During an industrial downturn, however, demand will be lower. The other side of the equation is the current available supply of scrap metal. An overabundance on the supply side will lead to lower prices, while a scarcity will lead to higher ones.
The supply and demand for scrap metal are influenced by both domestic and international markets. Within Canada, some areas may have different rates of industrial activity, changing the value of scrap across the country. Likewise, overseas development in countries such as India and China has a major impact on worldwide scrap metal prices.
2. Time of year
The time of year can have a significant impact on the supply and demand of recycling services in Edmonton. During the colder times of year, demand tends to fall, especially in the construction industry. It picks up again in the spring and summer month when construction and other industrial activities resume.
3. Type of scrap
The type of scrap metal you choose to recycle can also significantly affect the price you will get for it. Certain types of scrap are going to be worth more. For example, non-ferrous scrap is worth more than ferrous scrap, with copper, brass, and silver being among the most valuable. The time of year and economic growth and stagnation of certain industries will also determine what types of scrap metal in St. Albert are the most valuable.
4. Scrap quality
As well as the type of scrap, the quality of the scrap you bring to a St. Albert metal recycling facility will impact the price you can get for it. For example, bare bright copper wire is going to be worth more than insulated copper wire. The presence of corrosion, paint, dirt, and other debris will also affect the value of your scrap.
5. Recycle Your Scrap Metal in Edmonton
When all of the factors above work together to determine a high value for your scrap metal, then you can bring it to the St. Albert metal recycling experts at General Recycling Industries Ltd. We buy and sell scrap metal in St. Albert, Sherwood Park, and Edmonton, including scrap steel, copper wire, scrap cast iron, pipe and tubing, and more.
To find out more about our recycling services in Edmonton, just contact General Recycling Industries Ltd. today.