The short answer is that ferrous metals or alloys contain iron and non-ferrous ones do not. Ferrous metals, such as mild steel, carbon steel, cast iron and wrought iron are very common and low priced. Non-ferrous metals, like copper and aluminium are difficult to manufacture or mine. They are also more malleable, lighter and do not rust. This means they are far more valuable as recyclables and useful for a vast number of applications.

Still not certain of the material type judging by its colour, texture or origin? You can always use a magnet. If the magnet sticks to your metal, because it contains magnetic iron, then it is almost certainly ferrous.

Although there is no easy answer, as scrap yards often have their own grading system, it mostly refers to the quality of metal. For instance low-grade copper might be pipe or solid metal used in plumbing with around 94% purity; whereas clean, shiny and undamaged copper with 100% purity will fetch the highest price.

For alloys this will depend greatly on the raw materials percentage breakdown. If there is a higher percentage of a cheaper metal, the buying price will be lower.

The simplest way to find out is to speak to your local scrap dealer, who can identify it for you.

Aside from the personal benefit of clearing space in your home or business, recycling scrap can be quite profitable. Metal recycling is a major industry across the world, as it is a limited resource and always in massive demand. You can earn yourself a cash reward just by trading in items that are of no longer wanted or functional.

Doing so also aids environmental sustainability efforts, as less scrap ends up in rubbish tips. This metal slowly breaks down and releases toxins into the atmosphere. Furthermore, if scrap metal is in abundance and frequently recycled, manufacturers are less reliant on mining new metal from the earth.

Taking your scrap metal to a local recycling yard is the fastest way to get cash in hand. However to get the best price, it’s important to do your research. Know which materials or parts are in demand by dealers and stockpile a good amount of them before making the trip. This will save you time and start off a good relationship with the yard’s owner.