At the moment "light iron" sells for £120 per ton, so it covers the cost of the fuel. Let you friends know that you can dispose of old electrical appliances, and you will soon build a useful store of copper for the future. I've managed to collect several £1,000s worth of copper, and I haven't bought any of it. btw, steer clear of 'fridges and freezers - the "F" gases will get you into trouble with the government. We are in a world if social and economic change, and raw materials such as copper, will appreciate over the next 5 years.
metal scrap mining is not worth it
if you could carry £120 with your own arms great.. .. but its a tonne so no chance of that. it requires transport.
it requires storage.. all of this costs money.
if you want to store £45k of iron. that means you have to transport and store 375 tonnes
your not gong to be able to store 375tonnes in a spare bedroom..
also it will take many many many hours to rip apart microwaves and other scrap to get to the good stuff.
even africa with a low wage of under £1 an hour with peopleliving in shanty towns cant get scrap without cutting a few health and safety requirements
so goodluck trying to cover your costs in a proper lifestyle of rent and bills
goodluck covering them costs
maybe just watch steptoe and son. and enjoy watching. not pretending you can do it. or move to africa and clog up your lungs to burn out the material you want. atleast there the government wont chase after you for chemical waste. and no one will request expensive licences and health and safety requirements
but in the real world.. scrap metal is not cheap to process.. and then ask yourself why they prefer to ship it to africa rather then salvage it locally.. there is a big reason.
oh and last thing. if ou are in your 70's and spent the last 20 years salvaging scrap and you have only achieved 'several £1ks' then in them 20 years. you have only made enough for 1 years retirement income.
maybe try something that can make you 20times that to atleast break even