Current Scrap Metal Prices For Steel and Iron

Posted on November 9, 2022 by gardencity

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.

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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.

Thank you for reading! Check back for new blogs each month!

Is Stainless Steel Magnetic?

Posted on September 11, 2020 by gardencity

You might have magnets stuck to the front of your refrigerator at home, but the truth is, not all stainless steel is magnetic. You see, it depends on the type of steel and the particular alloy constituents. Continue reading to learn more about stainless steel, including its magnetic properties and limitations, as well as, what you can do with scrap stainless steel in Indiana.

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Stainless Steel Components and Properties

Stainless steel, also known as inox or inox steel, is a man-made alloy that has a minimum of 10.5% chromium content and a maximum of 1.2% carbon content. Some of the most admired qualities of stainless steel is its resistance to staining, corrosion, and oxidation (rust). For this reason, it is often used in kitchens and food processing plants, as well as industries like medical, electrical, petrochemical, manufacturing, automotive, and more.

Benefits of Stainless Steel Metal

Stainless steel comes in many grades and finishes, all of which offer their own unique appeal or performance. Compared to carbon steel, stainless steel has a much higher chromium content, so when exposed to conditions that would otherwise make it rust or corrode, it instead forms a passive coating of chromium oxide that prevents further deterioration. Not only does it not corrode and does not require a protective coating, it is also easy to clean and sterilize.

Is Stainless Steel Magnetic or Not?

As mentioned, some types of stainless steel are magnetic, and others are not. Two particular factors must be true in order for stainless steel to be magnetic. First, it must contain iron. Some stainless steels contain iron, while others do not. You see, all metal can be categorized as either ferrous or non-ferrous. Ferrous metals contain iron, while non-ferrous metals do not. You can easily tell the difference between the two by simply using a magnet. If the magnet sticks, it is ferrous and contains iron; if it does not stick, it is non-ferrous and contains no iron. Second, stainless steel must have a crystal composition arranged in a ferritic or martensitic structure.

There are 3 types of magnetic stainless steel: ferritic, martensitic, and duplex. Non-magnetic stainless steel are alloys that have austenitic structures. This means they have higher quantities of austenite in them, which is what makes them non-magnetic. For instance, stainless steel grades like 304 and 316 retain high amounts of iron in their chemical composition, but their austenite structures renders them non-magnetic, or non-ferromagnetic.

How to Sell Scrap Steel in Indianapolis for Instant Cash

Call Garden City Iron & Metal at 1-888-586-5322 to recycle scrap metal in Indianapolis, or in Central and Southern Indiana. We pay cash on the spot for both ferrous and non-ferrous metals, as well as, junk cars, automotive parts, appliances, construction equipment, motorized farming equipment, and much more! Get rid of your junk and make some fast cash at the same time.

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

Common Types of Corrosion Resistant Alloys

Posted on December 30, 2019 by gardencity

If you are looking to earn some money in metal recycling, be sure you are looking for quality metals to sell to your local scrap metal buyers! One of the most highly sought out metals are those that are resistant to corrosion. If you can find corrosion-resistant scrap metal to recycle at a local scrap metal center, you are in for quite the profit.

Continue reading to learn which metals are most resistant to corrosion, and where you might find them at.

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Metals That Resist Corrosion

There are several types of metals and alloys that are resistant to corrosion, including oxidation, or rust. However, the most dependable, and therefore mostly applied, are stainless steel, galvanized steel aluminum, and copper, including bronze and brass.

Stainless Steel

Because stainless steel is made using a combination of nickel, magnesium, chromium copper and iron, it is a very strong and durable alloy that contains several properties that deliver a wide range of benefits. Although its chromium content makes it highly resistant to corrosion and oxidation, if the surface is scratched, it can sometimes develop rust. For this reason, the 304 series is the most common version of stainless steel used in industries where rust is forbidden, such as the restaurant and food industry. Ths type of stainless steel is the most resistant to rust and corrosion. You can find it in components like kitchen sinks, food processing equipment, steam table pans, and more.

Galvanized Steel

Galvanized steel is steel that has been treated with an outer layer or coating of zinc. Galvanization is a process that applies a type of sealant on metal to protect it from natural wear and tear, like rust. It involves coating metal with an outer layer of metallic zinc by means of electroplating or hot-dip galvanizing. The zinc stops any substances, like moisture and oxygen, to penetrate the metal. This reduces rust formation and preserves the structural integrity of metal.

Aluminum

Aluminum is found on the periodic table with the symbol “Al” and atomic number 13. It has a silvery white finish, and mostly admired for its magnetic and ductile (good heat conductivity) properties. This makes aluminum a ferrous metal, meaning it contains iron. Compared to stainless steel, aluminum has higher oxidation and corrosion resistance properties, and is very light in weight. You can find aluminum in the form of food and soda cans, rolled foil, kitchen back splashes, counter tops, food preparation surfaces, factory processing equipment, and more.

Copper, Bronze, and Brass

Because copper, bronze and brass retain little to no iron content, they do not rust. They can, however, react with oxygen which can lead to a beneficial type of oxidation. You see, copper oxidizes over time and forms a green patina that shields the copper from further oxidization and corrosion. Bronze is an alloy of copper. A combination of copper and tin makes a copper alloy known as bronze. It, along with small amounts of other elements within, are naturally more resistant to corrosion than copper. The same facts apply to brass, which is also an alloy of copper made from zinc and other elements, and also highly resistant to corrosion.

Where to Recycle Scrap Metal for Cash

Call Garden City Iron & Metal at 1-888-586-5322 to recycle metal in Indianapolis, or in Central and Southern Indiana. We pay cash on the spot for both ferrous and non-ferrous metals, as well as, junk cars, automotive parts, appliances, construction equipment, motorized farming equipment, and much more! Get rid of your junk and make some fast cash at the same time.

Does Stainless Steel Have Magnetic Properties?

Posted on March 27, 2019 by gardencity

Stainless steel is one of the most sought-after metals in various industries all over the world for many reasons. One of the most valuable properties of stainless steel is its non-porous and thus, resistance to corrosion. You see, stainless steel contains a combination of alloys, including nickel, magnesium, chromium, copper, and iron. It is the chromium coating that gives stainless steel the ability to defend against rust and corrosion.

There are many more wonderful attributes of stainless steel; but what about magnetism? Is stainless steel magnetic? Many people want to know, but many people will tell you different answers. Continue reading to clear up the confusion for good.

Ferrous and Non-Ferrous Metals

Depending on the application, magnetic properties of a stainless steel commodity can have an effect on its performance. This is why you might care whether or not stainless steel is magnetic. Before you can understand the possible magnetic properties of stainless steel, you must first understand ferrous and non-ferrous metals, and the difference between the two.

Ferrous metals are metals, or alloys, that contain iron. The word “ferrous” literally translates to “iron”, making it easy to understand what a non-ferrous metal it. The term “non-ferrous” means “non-iron”, which means that non-ferrous metals are those that do not contain iron. Read our blog, “The Discerning Attributes of Ferrous and Non-Ferrous Metal” to understand these differences in better detail.

Stainless Steel and Magnetism

Getting back on topic, the test to identify ferrous and non-ferrous metals is through the use of magnets. Magnets are attracted to iron metal, which means a magnet will stick to something that contains iron, or is ferrous. If you stick a magnet to something, and it does not attract, the item likely does not contain iron, making it non-ferrous. So when you ask whether or not stainless steel is magnetic, you really might want to ask yourself is stainless steel ferrous or non-ferrous metal.

Most people assume stainless steel is magnetic because it contains iron in its chemical composition; but this is where the confusion comes into play. You see, although it contains iron, stainless steel isn’t always magnetic. In addition to containing iron to be magnetic, stainless steel must also be manufactured with a crystal structure arranged in a ferritic or martensitic structure. If it does not have both of these attributes, or mostly consists of of an austenite structure, it may not be magnetic.

✨ Check back with next month’s blog where we will discuss which types of stainless steel are magnetic, and how they compare to austenitic structures, which are not.

Sell Your Scrap Steel for Cash on the Spot!

Call Garden City Iron & Metal at 1-888-586-5322 to sell scrap steel in Indianapolis, Indiana and its surrounding regions. We pay cash on the spot for all scrap metal and metal commodities, including appliances, vehicles, construction equipment, building materials, and much more! Collect all the scrap metal you can, and then sell it to us for the highest profit in town! Request a free estimate or information, today.