1. Buy a Copper Wire Stripping Machine. Burning scrap wire it is bad for your lungs and bad for the environment. Not to mention it is also illegal. Remember you will make twice as much money with clean copper compared to unstripped or burnt.
2. Find Scrap Copper Wire. You have to get creative on how you approach this. We do not condone illegal ways of obtaining it. However there are many legal ways to find it. Start by calling your local electricians. Junk Yards. Demolition guys or contractors. Mining companies are also another source. Figure out ways to get your hands on it. If you look hard enough you will find it. You would be amazed at how many people just leave this stuff lying around.
3. Call your local scrap dealers. Generally the better a deal the scrap yard has with a smelter or end buyer the better a price you will get for your clean wire. Call at least 5 scrap dealers and check current prices. Look at the Kitco copper chart on our website to see what the market rate is. The dealer should be paying $ 0.30 to $ 0.50 cents less than market on #1 copper depending on what arrangements they have with their final buyer.
4. Weigh your copper. Make sure you buy a weigh scale. Do not trust scrap dealers to weigh scrap copper wire properly. This is how they make money. If they offer you a good price per lb and then they tell you there is something off on your recorded weights - Walk instantly. You worked hard to find your scrap copper. You do not need to get ripped off by greedy scrap yards tipping the scales. Also make sure you understand the difference between copper wire grades: http://www.scrapindex.com/metal/canada/copper/index.htmlDirty
NOTE: Its common for a scrap yard to down grade the value of your #1 Copper Wire by calling it #2 Copper just because it has a little coating or dust left on it.
Also Understand Scrap Copper wire can be sorted into 5 different grades:
- 85% Wire: Thin case with a diameter comparible to a pencil’s. If you have this type of wire, just strip it yourself and get full copper price!
- 70% Wire: Romex/machine wire without any attachments. Found inside of any type of electronics or appliances
- 50% Wire: Extension cords and appliance cords
- 35% Wire: Thinly gauged wire with a considerable degree of attachments. “Communications wire” For example, VGA cables, telephone wires, ect.
- 10% Wire: Christmas lights
5. Reap your rewards. Form long relationships with your customers. How you keep your customers will be a test of your business acumen. Remember, this is the scrap business. They don't call it that for nothing. You will have to be scrappy to get the scrap!
BLUEDOG CABLE STRIPPERS