The combination of an economy in recession and the high price of commodities has caused many people to look at scrap metal as a serious money-making ‘adventure’.
Fox Biz reports on the huge jump in scrap metal prices that are causing the big scavenger hunt:
Yes, that’s right ladies and gents, that was Mike O’Malley in the flesh. He has aged terribly since his Global Guts days on Nickelodeon. Even that scrap metal heap looks just like the Aggro Crag. OK, maybe it’s not him, I digress. Let’s go to Mo with the scores:
- At many scrap metal yards ‘aluminum trailer siding’ is a hot commodity
- Aluminum averages $1.20/lb. at the scrap yard
- Copper (such as piping and wiring) goes for $3.85/lb.
- These prices are up 25% in the past 6 months
- Steel prices have also increased by 75% in the past year
- You can get about $100 for a truckload of siding
- $25 for scrapping a used fridge
Also, check out at (2:15) in the video when the nosy cameraman follows the forklift operator. “Sweet, he’s gonna drive that thing. That’ll make a great shot for this segment! Oh crap… he’s just getting his gloves. Now I look like an idiot.”
So if you’re looking to earn some extra cash, look no further than that pile of scrap metal in your backyard. And if you don’t have one of those lying around, try scavenging around active Army testing areas for unexploded ordnance. Just try not to blow yourself up before you get it to the scrap metal yard for them to ‘deal with’.
Fox Business: Scrap Cash, May 14, 2008
WSYR 9 Syracuse: More people turning scrap metal into cash, May 14, 2008
AP: Military cracks down on scrap-metal scavengers, May 13, 2008