The value of scrap metal is determined by many factors. In fact, knowing the value of scrap metal can not only help you make more money from your scrap, it can also teach you about the different types of metal. Although you may see scrap collectors out everyday collecting various metals, most stockpile their scrap and have learned to only sell it on particular days.
This is because the value of scrap metal is actually determined day by day. The companies that buy scrap metal do so according to the buying and selling price on the stock market. Just as the price of gold may be $1200 a gram one day and the next $975 a gram, scrap metal prices fluctuate like this too.
This is true, as of Friday May 24, 2013
The price of copper per pound is $3.28
The price of nickel per pound is $6.68
The price of zinc per pound is $0.82
The price of silver per ounce is $22.61
The price of gold per ounce is $1393.70
Gold actually lost $0.00, nickel lost $0.06 and copper lost $0.00 when the market closed on this day. As you can see, even with these small losses, when demand for scrap metal is high, you can sell on these days and make more money.