It’s frustrating when scrap prices are at an all-time low or are moving up and down all over the map. It’s not just a small drop in prices, but rather a drop. With the iScrap Application Team coming from the scrap industry and dealing with it on a daily basis, we know how it feels and the frustration that comes with these difficult times.
As we continue to monitor the market and keep you, our viewers, up-to-date on the latest news and price changes, we know that it can be difficult to get something done during this tumultuous time. Especially for those who rely on scrap metal for a part-time or even full-time income, your anger and impatience can take over your mood and perspective. We know how it feels. Unfortunately we can’t predict exactly what the markets will do, we can provide you with some tools and ideas that can help you get through the tough patch.
Plan Your Route
Fortunately, gas prices were lower last year, but it can still be helpful to plan your scrap buying route before you set off. If you have scheduled pickups, perhaps you can change your departure times due to missing traffic or use the shorter distance to reduce mileage in your vehicle. Also, have a look at the iScrap App and find the scrap yard closest to your pickup locations, you can leave your materials in between pickups and have an empty truck for your next pickup. When you’re on the road for a long time, remember that school is off, so you want to prevent school buses from slowing you down, as well as morning and afternoon commutes.
Cut Extra Costs
When dealing with tough scrap prices, it’s important to look at what kind of expenses you have and whether you can reduce any of them. For example, you can reconfigure your cell phone plan for less data per month. Also, if you’re the type to stop eating lunch or dinner at a grocery store or restaurant, maybe you could try picking up groceries and pack your lunch or dinner a few times a week. You should also take a look at your household expenses, maybe you don’t need that big TV channel package and you can reduce your monthly bill.
Sell Items Online
While you review items you collect for scrap, you can resell some items online and earn extra cash. Take a look at the electronics and plug them in to see if they’re working. If they do, you can probably find a market for them by selling them online on Ebay or Craigslist. If the item is not working, you can also check to see if there are any parts that you can remove and sell online. This is especially true for computers, people are always looking for parts like Motherboard or low quality disk drives.
Find Other Strange Jobs
When scrap prices drop, it can be helpful to have some additional skills to use on the side. Whether it’s a carpentry, handyman or demolition job, it can be helpful to ask your friends and family, or even the people you collect scraps if they need any small home improvement project. Especially if you can get some scrap like wire or copper from the job, you can get paid for it. Keep your eyes peeled for such advertisements that may run in your local papers, these links may eventually lead to scrap. It may also be helpful to place a small advertisement in the newspaper for your own scrap services to make your name known.
Watch the Scrap Market
In these times, it’s even more important to stay up to date on where scrap prices are headed. Sometimes you can get lucky with a rise in prices as fast as one day. If you’re holding supplies, this could be your chance to unload your supplies and get them cash. Also, if you see that the scrap market looks like it’s going to drop again, you can push above prices and cash out with what you have before it drops any further. You can also use the iScrap App to check scrap prices and reported scrap prices in your area. You can also post your own prices so other scrapers in your area can follow. After all, we are a community, it’s good to work together.