Recycling for cash
Got some old junk metal lying around? Might be worth a tank of gas or some groceries.
These days, recycling centers and metal scrapyards are seeing a boon in business.
The cause: skyrocketing metal prices caused by a demand in developing countries such as China and India and rising food and fuel costs.
Most of the scrap sellers, according to the Associated Press, are plumbers, electricians and construction workers. But an increasingly number of people in general are gathering stuff, scouring garages and basements for junk and saving cans to sell instead of handing them over to their local government recycling centers for free.
Some people are even driving around neighborhoods the night before trash is collected to gather other people's junk.
Greg Charlton (left), and Stephen Price, workers for the Fitzsimmons Metal Co., pour brass turnings from a bin to be weighed at the company in Glenshaw, Pa., recently. Keith Srakocic/The Associated Press
Comments (2)
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As one who buys and sells many thousands of pounds each week I can tell you scrap metal prices dropped twice in the last 7 days. The local off the street price for #1 copper went from $2.80 to $2.40 and is expected to continue dropping as speculators flee the metals market in search of other markets.
Posted on August 8, 2008 9:21 PM
Also, lately, while I've noticed a huge increase in the numbers of people selling scrap metals the average load per person continues to become smaller.
Posted on August 8, 2008 9:24 PM