METWORLD DMCC - Recycle and Trading of Metals
As per the economic survey results metal recycling and trading is the most lucrative business. At the same time recycling in metals helps in conserving environment, thus helping the company do their bit for the environment taking care of their CSR or corporate social responsibility. Another thing to notice is that trading and recycling metals reaps great rewards in the long run as it saves time and resources as well. Let us first understand how to begin and what all it entails.
Learning the Trade
Identifying different metals
The first step to begin the process of recycling metals is to identify the different types of metals and sorting these accordingly. Often buyers are interested in specific metals and these are weighed as per pounds. At your end as a trader in metals you need to first begin by identifying the scrap to know its resale value.
Following information about different metals will serve as your guide:
• Iron and its alloy are extremely useful as this is the most common metal when it comes to scrapping. It is a sturdy metal and lighter than other major metals but still heavier than aluminium. It is available in different shades of grey and often accumulates a reddish brown rust.
• Aluminium is very light and it has a distinct metallic sheen that doesn't fade over time.
• Copper in its pure form is pinkish in shade, the lower grade of copper is often found with reddish brown shading. This metal is heavier than iron, often it is used in cookware and used for wiring purpose.
• Bronze is copper alloy, it is relatively lesser in value. It's colour is golden and it is lighter in weight. It is more than often used in pipe valves, instruments and for the purpose of decoration.
• Lead is heavy in weight but relatively a softer metal. It is used for the purpose of making bullets and for producing radiation shields. This is probably the most toxic metal and it requires protection and careful handling to avoid lead toxicity. You need to be cautious when handling lead. You should invest in protective gear for handling it.
Segregation of metals
The second major step is to disassembling the scrap that would help in sorting it all out. This can be done as per the weight of the metal or as per the size of the metal or variety.
Tracking metal prices
It is essential that you keep a regular look out for the metal prices in the market. Fluctuations keep occurring regarding some metals. Another thing is that you need to specifically keep yourself updated on the types of commodity trading as per the market and as per the different sellers based on geographical location.
Pick-up and delivery vehicle
The first step towards setting up the scrap business is all about arranging for vehicles that you are going to engage in pickup and delivery of your metals. The vehicle should be according to the compliance and sturdy enough to serve the purpose.
Requirement for a perfect warehouse for storing and disassembling the scrap metal is essential. The unit size depends upon the volume of the items that you are handling. Similarly, it can be as per your requirement like if you are dealing in small quantity then it can be a rented place or you can purchase it if you are ready to invest capital in it.
Handling different metals can be hazardous, for example lead poisoning is a common occupational hazard. To avoid this, you should invest in protective gears like work boots, spill-resistant gloves, respirators and goggles.