UK Scrap Prices 2020
There is a huge amount of scrap metal in the UK. This is because there has been a 113% increase in building and infrastructure projects in the UK since 2017, thanks in part to the popularity of home-DIY projects. To ensure scrap metal isn’t wasted, people are turning to recycling to not only help save the environment but also earn additional revenue.
At Bronneberg, we monitor the UK scrap metal industry closely. In this blog, we’ll explore the scrap metal prices for 2020, and the invaluable scrap you should look for.
The UK has seen an increase of 113% on building and infrastructure projects since 2017, with in-home DIY also continuing to be strong. As a result, the rise of scrap is one that can be taken advantage of. Not only is scrap recycling good for the environment, but it is also a great way of earning additional revenue. In this blog, Bronneberg will look at the UK scrap metal prices for 2019 and what you should look for invaluable scrap.
What is Scrap Metal?
Scrap metal is a combination of waste metal, metallic material and any product which contains metals capable of being recycled from product manufacturing or previous consumption. Whether you’re recycling vehicle parts, building supplies or surplus materials, the scrap metal industry in the UK is worth up to £5.6 billion.
What Determines Scrap Metal Prices?
Scrap metals prices are determined by:
- Supply and demand
- Type of metal
- Its grade
- Ferrous vs Non-ferrous
Before you recycle scrap metal, you must understand if your metal is ferrous or non-ferrous.
Usually, a ferrous metal is magnetic and is found in larger quantities than non-ferrous metals. Ferrous metal contains iron, or products that have originated from iron, such as steel. You will find ferrous metal on property building sites, homes and in vehicles. This type of metal is less valuable than non-ferrous metals but, with the right quantity, you can gain some value from it.
Non Ferrous Metal
Non-ferrous metals aren’t magnetic and are valued much higher because of their individual properties. Examples of non-ferrous metals include copper, gold, silver and aluminium. Metals including copper and aluminium don’t require treatment for recycling. Factors like this make non-ferrous metals more lucrative to recycle, as they hold a greater value over ferrous metals.
Best Valuable Metals 2020
This is a selection of the most valuable metals of 2020.
Copper is one of the most valuable scrap metals on the market. Because of its everlasting recyclable life, copper is used in vehicles, technology, construction and many other products and industries. Copper prices vary depending on the grade and quality and each scrap metallist has their own classifications to rate the copper.
Aluminum is one of the most common scrap metals around and is used a lot on household goods such as cans and tins. Aluminum brings a good return for scrap metalists. Products such as old computers, games consoles and bike parts contain this metal and could contain scrap value. Aluminum can be continuously recycled, requiring less treatment.
Lead can be hard to get hold of but is extremely profitable. However, the metal is hazardous and highly toxic if you have it in its purest form. Lead remains in high demand and is worth the effort required to transport and recycle.
Gold & Silver
Gold and silver remain a valuable precious metal and can bring a high price from scrap metalists. Items such as jewellery, coins and electronics contain the materials, but it’s hard to find the original source of the metal. We advise that you conduct research when looking to recycle gold or silver because prices fluctuate and there’s an opportunity to bring a greater return.
How To Get The Best Scrap Metal Price
There are various things to understand when attempting to get the best price for your scrap metal:
- How the domestic and global scrap metal markets relate to each other
- Current supply and demand for metals
- Calculating the scrap metal’s price per kg
Scrap metal prices are calculated per kg. 1 tonne of scrap metal = 1000 kg. If the price per kg is £3, then it would work out as £3,000 per tonne.
If you’re planning to sell scrap metal this year, you should check industry scrap metal prices based on the materials you have. Remember, prices fluctuate depending on the market conditions or the demand for metals. Selling scrap metal can be a profitable exercise and recycling is great for lessening the environmental impact by not wasting scrap.
For more information on scrap metal recycling, get in contact with Bronneberg Recycling Machines & Services today.