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The worth of the metal recycling industry is currently standing at £5.6 billion, as per the report of the British Metal Recycling Association. Scrap metal dealers work at the commercial and domestic levels, and one can make money by getting their scrap metal recycled via registered dealers.
Any damaged objects, appliances, or machines that are no longer in use but are made of valuable metals become metal scrap that can be recycled by being sold to a registered scrap dealer. Both ferrous and non-ferrous metals can be recycled or smelted and different metals, including aluminium, brass, copper, steel, etc., can be sold out.
There is a vast range of metal items in your house which can be sold, such as non-functional fridges, microwave ovens, dishwashers, stoves, utensils, washing machines, rusted bolts, nuts, screws, locks, doorknobs, hinges, etc. The scrap prices vary depending on the value of a particular metal and its usage. It is preferred to deal with local merchants to find suitable prices.
Scrap dealers collect and recycle the metal scrap, protecting the environment by not allowing non-degradable materials to enter landfills. A scrap dealer needs a Scrap Metal Dealer Licence, and you need to provide your identification either in the form of a driving licence, passport, utility bill, council tax letter, debit/credit card statement, or bank/building society statement. Additionally, it is necessary to follow the laws to avoid any fines or penalties at any point.
According to the law, the dealer should have both site and mobile collector licences; they need to renew the mobile collector licence after every three years by paying the licence fees, and it should be displayed on the vehicle used for scrap collection. Scrap metal collection is illegal without these licences, and the dealer must seek permission from the owner to search for scrap on private property. A fine of £5,000 is imposed in case of an invalid mobile collector’s licence, and illegal activities can also lead to jail.
You cannot take the money in cash to sell scrap metal under the Scrap Metal Dealers Act 2013; instead, you can get money online directly into the bank account or through a cheque. It is also important to keep a track record of all your dealings to avoid any illegal act by any other dealer.
You should know about all the practices for scrap metal collection and potential places from where you could find it. At the household level, you can follow these techniques to find the metal scrap:
You should know enough about several metals’ appearance and value and handle the scrap carefully; be wary of how to handle sharp and heavy metals to avoid injury.
You can follow some strategies to sell your scrap metals at the best prices:
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