The following is a list of the current prices for various types of scrap metal. These prices are based on the demand for these metals, as well as any tariffs that may be in place. If you have scrap metal to sell, now is a great time to do so.
2022 Scrap Metal Prices
The current scrap metal prices are high due to the demand for steel and other metals. The price of aluminum has also increased due to the tariffs in place. If you have scrap metal, now is a great time to sell it. The following outlines the current prices for various types of scrap metal.
Ferrous Metals
Ferrous metals are a type of metal that contains iron and are used in a variety of applications. They are known for their strength and durability, making them ideal for use in construction and other high-stress environments. In addition to their strength, ferrous metals also have good electrical and thermal conductivity, making them suitable for use in a variety of electrical and industrial applications. While ferrous metal is not as abundant as other types of metal, they are an important part of the global economy and play a vital role in many industries.
▶ Ferrous metals such as steel and iron are currently going for $0.06-$0.08 per pound.
Non-Ferrous Metals
Nonferrous metals are a type of metal that does not contain iron. This includes metals such as aluminum, copper, lead, nickel, tin, and zinc. Nonferrous metals are used in a variety of industries and applications due to their unique properties. You can use a magnet to determine if a metal is non-ferrous. If the magnet refuses to stick, it is nonferrous metal.
▶ Non-ferrous metals such as aluminum, copper, and brass are currently going for $0.30-$0.50 per pound.
Stainless Steel
Stainless steel is an alloy of iron with a minimum of 10.5% chromium. This means it is magnetic. This chromium creates an invisible surface film that resists oxidation and makes the material ‘stainless’ or corrosion resistant. There are over 150 grades of stainless steel, all containing different proportions of elements to suit different applications. Popular grades include 409, 430, and 439.
▶ Stainless steel is currently going for $0.22-$0.28 per pound. This changes more frequently than other grades of steel.
Looking to sell your scrap metal for cash on the spot in Indianapolis? If you have any questions about the current scrap metal prices, please contact Garden City Iron and Metal, today. Our scrap metal buyers in Indianapolis would be happy to help you determine the value of your scrap metal.
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