Current Scrap Metal Prices For Steel and Iron

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.

For Scrap Metal Recycling in Indianapolis, Call 1-888-586-5322 Now!
For Scrap Metal Recycling in Indianapolis, Call 1-888-586-5322 Now!

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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Are Steel Prices Good Right Now?

Steel is an important material used in various applications all over the globe. In fact, it is hard to name an industry that does not use some form of steel in some way or another! With these facts being true, you can surely imagine the importance of recycling and repurposing steel as much as possible. Steel recycling supports a wide range of benefits and delivers a scope of advantages for everyone and the entire planet.

Recycling steel is a great way to preserve our natural resources by decreasing our need to mine for new steel ore, inflate the economy by providing jobs and putting cash in your wallet, and much more. For these reasons, you are encouraged to recycle all your steel and metal scrap. Did you get that part about the cash in your wallet? Scrap metal companies in Indianapolis will pay you cash for your metal scrap based on the current metal prices and similar factors! This might have you wondering how good the steel prices are right now.

Continue reading to learn more about the current scrap steel prices, plus where you can earn top dollar for your metal scrap in Indianapolis.

Steel Recycling for Cash Indianapolis Indiana 1-888-586-5322
Steel Recycling for Cash Indianapolis Indiana 1-888-586-5322

Current Steel Prices for 2022

Last year, the steel supply was down. But this year, steel is in surplus, making the price more normalized than in previous years. It is important to understand that the price of steel, and all scrap metal for that matter, fluctuates on a continuous basis. Prices can change by the day, the hour, and even the minute! It is wise to check the market on a regular basis if you are wishing to be strategic about your scrapping profits.

As of today, February 18th, 2022, most steel prices are up:

Steel BX =▲$0.26/lb.
Stainless Steel = ▲$0.76/lb.
Nonmagnetic Stainless Steel = ▲$0.71/lb.
Stainless Steel Breakage = ▲$0.71/lb.

Stainless Steel Heat Sinks = ▲$0.69/lb.
Stainless Steel Sinks = ▲$0.28/lb.
Stainless Steel Kegs = ▲$0.48/lb.
PC Board w/Steel = ▲$0.42/lb.

400 Series Stainless Steel = ▲$0.16/lb.
310 Stainless Steel = ▲$1.13/lb.
316 Stainless Steel = ▲$0.93/lb.
321 Stainless Steel = ▲$0.63/lb.

#1 Steel = ▲$251.00/ton
#1 Heavy Melting Steel = ▲$288.00/ton
#2 Heavy Melting Steel = ▲$206.00/ton
#1 Prepared Steel = ▲$284.00/ton

#2 Prepared Steel = ▲$211.00/ton
Steel Shavings = ▲$102.00/ton
Shreddable Steel = ▲$248.00/ton
Plate and Structural Steel = ▲$252.00/ton

Complete Car = ▲$227.00/ton

Some Steel Prices are Down:

17-4 Stainless Steel = ▼$0.28/lb.
High Speed Steel = ▼$0.16/lb.
300 Series Stainless Steel = ▼$0.74/lb.
304 Stainless Steel = ▼$0.70/lb.

Are you looking for a Central Indiana scrap metal recycling center for steel recycling? Just contact Garden City Iron & Metal at 1-888-586-5322 for the highest standards of professionalism, and the highest payouts for steel metal recycling in Indianapolis, Indiana. We pay cash on the spot for scrap steel and more!

Related Posts:

Comparing 409, 439, and 430 Stainless Steel Sheet Metal
3 Types of Magnetic Stainless Steel
This Fact About Steel Will Shock You

Garden City Iron and Metal 1-888-586-5322
Garden City Iron and Metal 1-888-586-5322

Why are Scrap Metal Prices Lower This Year?

If you sold some scrap metal last year for more than what you just sold some scrap metal for this year, there is a good reason why your profits are less. Continue reading to learn some possible causes for the drop in the scrap metal market, as well as, where you can still get a fair payout for your scrap here in Indiana.

Indianapolis Scrap Metal Buyers 1-888-586-5322
Indianapolis Scrap Metal Buyers 1-888-586-5322

Fluctuating Scrap Metal Prices

Back in the day, China’s economy was in the midst of rapid economic growth, which put steel, copper, aluminum and other metals in high demand. As a supplier of such metals, the U.S. was doing well in their own national metal markets. More currently, China’s growth has slowed down, which subsequently has caused the price of scrap metal to plummet over the last few years.

But China’s economy is not the only reason why scrap metal prices have dropped in the last 2 years. Other factors, such as time, market demand, and stock exchange price also affect how the values of scrap metal change. For this reason, what you would have been paid for your scrap metal years ago is much less now, in 2019.

How to Get the Most for Your Scrap Metal

To make sure you get the fairest deal for your scrap metal, be sure to choose a reputable scrapper in your city. There are many places that will take your scrap metal, and most even pay cash, but it is important to choose a trustworthy and experienced company that specializes in salvaging scrap metal.

Contact a local Indianapolis scrap metal buyer who has been in business for many years and retains a good-standing reputation among past clientele. They are likely to do the best business in terms of flexibility, convenience, honesty, and profitability.

Once you have chosen a reputable scrap metal recycler, just follow call the office and request a free, over-the-phone estimate. Upon accepting their offer, schedule a time for them to pick up your materials. They should come right to you and pay you on the spot. If they cannot do this for you, they are probably not the most established or thriving company in your area.

If you are unsure about accepting the offer, ask them for their location details and a time to have your items assessed on-site. They should have innovative weight scales to provide accurate measurements. You will need to drive your materials to them in this case.

Where to Begin

Call Garden City Iron & Metal at 1-888-586-5322 to sell scrap metal for cash in Central and Southern Indiana. We pay cash on the spot for both ferrous and non-ferrous metals, including junk cars, automotive parts, appliances, construction equipment, motorized farming equipment, and more. Request a free estimate for your scrap metal, today.

Garden City Iron and Metal 1-888-586-5322
Garden City Iron and Metal 1-888-586-5322