The job of a scrap metal broker is to sell metals like Aluminium, Steel, Copper, Iron and the like. Selling scrap metal is the source of livelihoods for metal brokers. The prime advantage of being in this profession is that their scrap metal resale is very easy. The most important thing to be kept in mind while dealing in strap metal brokering is that the scrap metals should be bought at a low price but be sold at a higher price. It is in this way that metal brokers can earn profit from selling metal scrap. Metal scraps are available in many places. Some brokers procure scrap metal from industrial sites or from businesses and sell it at profit. Some people adopt another method to acquire metal scrap. Piles of metal scrap are mostly bought from the metal processors and then resold to metal mills to earn huge profits. There are a few things every scrap metal broker should know:
- KNOWING THE WORTH OF METALS TO BE SOLD: The first job of the metal broker is to know the value of the scrap metal. It is possible that a businesses may cheat the broker and demand more money than the actual value. There are many sites which can give information about the best price of such scrap metal. Having knowledge of the going price is a must.
- CONTACTING BUYERS FOR BROKERING: Most metal brokers prefer local buyers for convenience of sale of the scrap metal. However, it is also advisable to move a short distance and contact scrap metal processors. If scrap metal is needed to be brokered to large mills, then scrap metal processors should be contacted through phone and rates should be negotiated.
- KEEP AN EYE OUT FOR CONVENIENT SOURCES: The next step in the process is to contact different sources for metal brokering. Local businesses should be contacted to acquire scrap metal. Large business houses are not in need of scrap metal and want to get rid of it at the earliest. And sometimes businesses do give away scrap metal to metal brokers.
- DECIDE ON THE EQUIPMENT: After knowing such sources, the equipment to be used for carrying scrap metal should be decided. Trucks are most widely used for carrying scrap metal to large or small businesses.
- METALS TO BE SEPARATED AS PER TYPE: It will be easy to judge scrap metal when they are separated as per their types. If small quantity of scrap metal is needed to be resold, then small boxes can do the job. But for reselling bigger amounts, it is necessary to put them in piles to separate them.
CATCHING ATTENTION WITH EFFICIENT MARKETING: For dealers to successfully deal in scrap metal, advertisements should be placed in newspapers or pamphlets should be distributed with newspapers to attract prospective buyers.