metal scrap yards can be use for generating money . comment
Answers
Scrap yards are basically playing the stock market. Scrap prices can go up and down drastically from day to day almost. Depending on the size of the scrapyard, smaller ones sell to bigger ones who then sell it to usually China or India where it is recycled. Every morning scrap metal prices are posted on the stock market and the scrap yard pays their customers accordingly. Of course, they pay less than what they hope to get when they sell it. The larger scrap yards will hang on to their metal if the prices are down and wait until the prices go back up before they sell. They can make a lot of money if they time it right. On that note, they can lose a lot of money too if they wait too long.
I was hauling scrap metal when the economy crashed in 2008, just prior to the crash I was getting paid over $300 a ton for scrap metal. within a week scrap prices dropped to around $70 a ton and some of the scrap yards shut their doors or only opened for a couple of days a week because they couldn't afford to pay their employees. Some of the scrapyards had barges en route to China when the economy tanked, that steel was bought at the highest price and the customer refused to pay that price and many scrap yards lost hundreds of thousands of dollars because of it.
Answer:
Based on the trade market (related to the stock market) the scrap yard will pay you their current price (different from yard to yard) for that material. They determine their current prices and can often times change depending on the market conditions.
Explanation:
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