newbie

Hey guys. I am new to this scraping thing. Quick question for you. I called several local (Louisiana) recycling companies who quoted 0.35 for aluminum and 2.50/2.75 for copper. The LME that same day listed aluminum at 1.05 and copper at 4.09. My question is, is the local scrap (recycling) company turning around and reselling the product for something much closer to the prices listed by the LME and if so who are they selling to and what price do they receive.

All the REAL Scrap dealers I know sell their copper and aluminum to smelters and I am not aware of the Prices they get paid in comparison to what the LME values are. I have seen several on here say it is like 25-30% of course I cant Guarantee you that is correct since I have no acess to their paper work. I can tell you if you have 15-20 Lbs of copper I don't think the smelter will buy it from you But I could be wrong.

I am pretty sure the Large scrap yards sell to the LME warehouses which is located throughout the world.

There is also some small dealers who sell to other larger dealers. And then there is other dealers that sell to companys in other countrys.

In addition to the places Kris Kringle mentioned, some yards will sell their scrap to a foundry (the place where they melt the metal down). I think one of my local yards does.

I know where I live,(N.C.) most local scrap yards buy your scrap and double the money. The best way to get more money is to go to their buyer. Now most serious scrap yards require you to have an account, but its worth it. I get 8.00 per 100lbs for scrap, but I went to the source and know im getting 15-16 for scrap. Thats the best advice i have.

He said $8 per 100LBS....which would be about right........if he goes to the source.....he doubles the $8 per 100lbs making it $16 per 100lbs.....which would also be right.

Kris Kringle, I do believe it. If the LME price for aluminum is 1.05 and the local scrap yards are giving .35 then there is .70 somewhere. You mentioned earlier that he was getting more than the LME was getting. That implies that the LME actually buys scrap metal. Is this the case, do they buy? Or do they just determine the going rate so that everyone that deals in metal has a price point to start negotiations.