The scrap metal industry is always evolving. Sure, there are some items or metal types that you can always rely on. Copper prices, for example, will always stay high since this metal is quite scarce compared to iron. While there are some constants in the scrap metal industry, it is still a good idea to keep your eye on the latest trends or industry changes. Staying on top of these changes might just help you get the best possible deals for the year.

So what is trending or what is new in the scrap metal industry this year? Let’s find out.

The Demand for Scrap Metal Is Still Increasing

This probably comes as good news to any scrap metal collector. As long as there is a high demand for old meta, there will be an opportunity to make a lot of money. The scrap metal industry in Australia is still growing and the demand for used metal is still increasing. 

This industry growth is mostly caused by manufacturing industries who are always looking for more cost-effective materials that they can recycle into new products. Because recycled metal is such a good alternative to raw metals harvested from the earth, the demand for it is still increasing.

Thanks to this increase in demand, you can still get a good price for any scrap metal you can get your hands on. If you are lucky, you might even get a higher profit from selling scrap metal since the metal rates are always good when the metal demands increase.

Scrap Metal Technology is Better Than Ever

Technology and new innovations are making it easier, more affordable, and a lot quicker to transform old metal into metal flakes and to use these flakes to produce new goods. Here is a quick look at some advanced systems that are currently used by scrap metal industries.

Automatic Sorting Systems

These types of systems leverage AI to identify different metal types and to sort the metal by type. The automatic process doesn’t just make the sorting process easier, it is also a lot more accurate compared to manual testing.

Easier Metal Analysis

It is now easier than ever to identify different metal types. Technology like laser-induced breakdown spectroscopy and the use of x-ray fluorescence allows businesses to accurately identify the metal composition of different scrap metal items. This makes it easier to identify metal by type. If this technology keeps increasing, it might one day be leveraged by scrap metal companies and scrap metal collectors could find it easier to identify metal by quality and could get higher payouts for higher-quality metal types.

The Focus on Sustainability is trending

The focus on sustainability efforts is still trending, especially in the scrap metal industry where the main goal is to preserve natural resources. 

This year, we might even see a greater focus on sustainability efforts. These green efforts could make it easier for scrap metal collectors to acquire metal since the general public will become a lot more aware of the value and importance of old metal.

Scrap Metal Buyers in Melbourne

If you are intrigued by scrap metal or want to make some money on the sideline then we welcome your business. At Danny Scrap Metal, we are happy to buy from any scrap metal collector in Melbourne and we will happily accept any scrap metal type you manage to collect. Give us a call to find out more about the scrap metal industry or to find out how you can become part of this green movement.