If you're thinking about taking up scrap metal recycling to earn some extra money, there are a few things you need to know ahead of time, so that you can maximize your profits. Many scrap metal buyers offer money for household scrap, as well as scrap you can find in junkyards or waste dumps, and you can even make money by selling parts of an old vehicle if you know what parts are in high demand. Here are some tips to get you started on your scrap metal recycling journey.

Know the Difference Between Ferrous and Nonferrous Metal

Scrap metal is divided into two types: ferrous and nonferrous. Ferrous metal refers to metals that contain iron, and nonferrous metals refers to metals that have no iron. Typically, you will have more success recycling nonferrous metal, because scrap metal buyers can resell these types of metal much more easily than metals that are weighed down with iron, and more susceptible to rust.

Nonferrous metal is softer and can be remanufactured into different shapes, whereas ferrous metal is dense and difficult to reshape. Common types of nonferrous metal, includes copper, brass, lead, nickel, tin and aluminum.

Know Which Parts of a Vehicle Are Valuable 

If you have an old car that's run down and barely operable, or you have access to a yard of old cars, you can obtain some valuable scrap metal if you know what to look for. Cars are loaded with components made from aluminum and copper, and this is especially true of the electrical system, including the starter, battery and alternator. These components are all connected by electrical wiring made from copper. In addition, vehicles also feature aluminum components that are good scrap metal, such as wheel rims, engine blocks, panels and radiators.

Know Where Find Authorised Buyers 

Salvaging scrap metal is a laborious process, so the last thing you want is to take your hard-earned scrap metal to a buyer who isn't reputable, and who may give you less than what your metal is worth.

Avoid this by finding scrap metal recyclers on the Australian Metal Recycling Industry Association (AMRIA) website, which lists reputable buyers throughout Australia, including New South Wales, Victoria, Tasmania, South Australia and Western Australia. The AMRIA site is a well-known and trusted resource for sellers who want to ensure that they are dealing with buyers that have earned a good reputation for a number of years.