Steel Selling Soars as Prices Keep Rising

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News 12 at 6 o'clock; May 27, 2008

NORTH AUGUSTA, S.C. – Now is not an easy time on anyone's wallet, so just about everyone is trying to find a way to make a quick buck. One man is raking in the dough, thanks to your trash and a certain metal.

News 12's Gene Petriello spend the day talking to a scrap scouter. We're talking about steel and it's worth it's weight in gold, literally. Scrap scouters are putting the same amount of steel on the scales, but the payout just keeps getting better.

For Michael Lott, quick money started over a simple talk.

"I was out there one day and I saw people doing it and the guy told me, look here. You can get this money for all that metal and I started from there. And, I didn't stop yet," says Michael.

Why should he? What looks like a whole lot of junk is actually worth a whole lot of cash.

Gene asking, "How much did you make here today?"
Michael answering, "19 dollars."
Gene asking, "How much do you expect to make the whole day?"
Michael answering, "Between 250 and 300."

That's double the amount he would have made at Baldwin Metal Recycling just a few months ago. Back in September of 2007, a hundred pounds of steel would get you $3. But now, on May 27th, a hundred pounds of steel gets you $6.

"I'm taking advantage of it while I got it for gas. Mainly to go to work, to take the kids to school," says Michael.

So, it's time to back in the car and load up the scale. We decided to weight a dryer and a furnace, some things you just might have around your house. The total that we came up with, $11.52. Simple job, easy money.

So, just how simple is it for Michael?

"I scout. In the evenings I scout, go around ask people. The next morning, I go and get it. Then, that next morning, I go out and do it all over again. Same thing, everyday," says Michael.

This stop on Tuesday, just one of at least 4, he says, all in the hopes to load up about $700 this week alone.

We did some checking and the price at Baldwin's is actually cheaper than other places. Over in Augusta, you get $8 for 100 pounds at CMC of Augusta. At Newell Recycling, you get $10 for every 100 pounds. In North Augusta, you get $8.50 for 100 pounds at CMC U Pull It.

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