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What to Know Before Selling Your Surplus Steel

Selling Surplus Steel - Texas Iron & Metal

There are several reasons you might find yourself in possession of a large amount of excess steel. Perhaps your inventory was overstocked with items that don’t sell as quickly as you need them to. Maybe you had a large change order that left you holding a stack of the wrong product. Maybe, and this is the worst, you had a job canceled.

You could be tempted to hold onto that surplus steel just in case something else comes along. Maybe the products you have will pick up in popularity. Maybe you’ll find a reason to use the steel from the change order. Who knows?

Most likely, you’ll end up using valuable warehouse space for something you can’t use, which ends up being a waste of money. Keeping the surplus steel can tie up your resources and cause operational disruption and lead to potential write-downs.

Now that you’re ready to turn your excess steel into capital—because we’re sure we’ve convinced you—there are a few things you should know before you sell your surplus steel.

Types of Metal the Supplier Purchases

First, before you head down to the closest surplus steel buyer, make sure you know what types of metal they buy. Some may just want your surplus steel, while others may only deal in excess aluminum. These are great if those are the specific metals you have on hand.

If you have several different types of metal lying around from canceled jobs and change orders, you’ll want to find a supplier who purchases various types of steel—including stainless, galvanized, and more. If they also buy aluminum, welding wires and rods, and equipment, you’ll know where to go every time you have surplus supplies.

The Condition of the Steel and Viability of the Sale

The more you know about the metal you plan to sell, the more likely you’ll be to not only find a buyer but also get the price you want. If you have material test reports, that’s great! If you don’t, that’s okay, too.

Some buyers won’t consider surplus if there are pits, rust, or other cosmetic issues. Some surplus buyers, however, will happily take whatever you have.

Latest Pricing for the Metal You’re Selling

You’d be wise to get an idea of the latest surplus pricing for the metal you want to sell. This will help you get a fair price. Many surplus buyers will give a fair price without the need for negotiation, but you can’t know that if you don’t know the value of your metal to begin with.

Delivery and Pickup Options

You’ll need to consider the location of your surplus metal before choosing a surplus supplier to sell to. The logistics of you either delivering the metal to the warehouse or the supplier organizing a time to come collect it is something you’ll need to determine. Make sure you have any measurements noted and any paperwork that can verify the condition of the metal, too.

At Texas Iron and Metal, we purchase excess steel and metal of many types—even if it’s a product that has sat in your inventory for a while. We’re not concerned about pitting and rusting, either. In fact, we’re delighted to have the chance to purchase your surplus steel, stainless steel, aluminum, and equipment. Reach out todayfor more information on how to sell your surplus.