Are Steel Prices Good Right Now?

Posted on February 18, 2022 by gardencity

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.

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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 18^th, 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.
*SOURCE

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!

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What You Can Do With Surplus Steel

Posted on October 15, 2021 by gardencity

Whether you own a construction company or teach a metal fabrication class, having a surplus of leftover steel from a recent project can benefit you greatly in many ways. Continue reading to learn what you can do with surplus steel, including one way that will make you an instant cash profit right here in central Indiana.

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The Advantages of Scrap Steel

One the best attributes of scrap steel is that it is 100% recyclable and can be repurposed into a countless number of commodities applicable in a wide range of industries. From construction and farming to automotive manufacturing, food canning, and much more, steel plays a vital role in our nation’s economy, as well as the global economy.

So, when you have leftover steel that seems to serve no purpose, look to these ideas to make the most out of your scrap metal:

Artwork

Do you have an artist in the family? Scrap metal, especially steel piping and sheet metal, can be used to create magnificent art projects and artworks. From sculptures and statues to abstract figures and more, steel makes the perfect material for molding and welding art of all forms.

Structural Repairs

If you consider yourself a pretty capable handyman, you can use your left over scrap steel to provide certain reinforcements and repairs around your home or business. You can use scrap steel to build handrails and banisters, or to reinforce patios and decking.

Shed Construction

If you are preparing to build a new shed or storage utility barn on your property, your leftover steel scrap can be put to good use. Talk to your general contractor about incorporating your left over scrap in order to reduce the cost of materials.

Steel Recycling

The best thing you could possibly do with your surplus steel is to sell it to a local metal recycling center for cash on the spot. Not all metal recycling centers in Indiana pay cash on the spot, or at all for that matter, so it’s important for you to do your research. Supporting steel recycling is an important initiative that can make you feel good and fatten up your wallet!

Are you looking for a trusted Indiana metal recycling company that will pay you top dollar for your steel? Contact Garden City Iron & Metal at 1-888-586-5322 to speak with a professional scrap metal buyer in Indianapolis, Indiana. We accept all scrap metal and metal commodities, including scrap steel and construction scrap.

The Basic Types of Steel Metal

Posted on January 26, 2021 by gardencity

If you were to ask the American Iron and Steel Institute (AISI), they would tell you that steel can be categorized into four basic groups according to their individual chemical compositions. These four groups include 1) Carbon steel, 2) Alloy steel, 3) Stainless steel, and 4) Tool steel. All steel is composed of both iron and carbon, but vary in type depending on certain physical, chemical, and environmental properties, all of which are determined by the amount of carbon and any additional alloys.

Continue reading to learn some interesting facts about each type of steel, and where you can make fast cash by recycling your scrap steel in Indiana.

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Categories of Carbon Steel

Carbon steel can be further categorized into three groups, which are low carbon, medium carbon, and high carbon. Low carbon, also called mild steel, is one of the largest categories of carbon steel, and generally contains anywhere from 0.04% to 0.30% carbon content. Medium carbon generally contains anywhere from 0.31% to 0.60% carbon content, as well as a range of 0.60% to 1.65% of manganese content. High carbon steel is informally known as “carbon tool steel” and contains 0.61% to 1.50% carbon content. It is difficult to manipulate, and becomes very brittle when heat-treated.

Stainless Steel

Stainless steel contains added alloys that make is extremely resistant to corrosion in comparison to carbon and alloy steel. This is why it is commonly used in the medical/surgical industries, appliance industry, hardware manufacturing industry, food processing/handling industry, architectural industry, and more. It contains both carbon and iron, as mentioned before, but stainless steel generally contains other alloys as well, such as Chromium (Cr), Molybdenum (Mo), or Nickel (Ni).

Alloy Steel

Alloy steel also contains carbon, since all steel contains both carbon and iron. But alloy steel also contains a marginal number of additional elements, such as Nickle (Ni), Chromium (Cr), and Manganese (Mn). This type of steel is popular and commonly used due to their wide availability, economical costs, ease of processing, and quality mechanical properties. In comparison to carbon steel, alloy steel is more responsive to mechanical and heat treatments. Heated alloy steel comes in wither annealed or normalized.

Tool Steel

Tool steel is a general term to describe a variety of steels that retain high-hardness and abrasion-resistance properties. Specific applications for tool steel include stamping, extrusion, dies, cutting, mold-making, or impact applications such as hammering.

Where to Recycle Scrap Steel in Indianapolis, Indiana

Call Garden City Iron & Metal at 1-888-586-5322 for superior scrap steel recycling services 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! Request a free estimate for your scrap metal, today.

This Fact About Steel Will Shock You

Posted on October 6, 2020 by gardencity

Steel is one of the most abundant and applied metals in the world. Not only does it retain incredible properties, such as high tensile strength and resistance to corrosion, steel’s formability is infinite. But there is one very unique quality of steel metal that most of us never knew, and it has to do with recycling. You see, all steel bought and sold in the United States contains recycled steel material. All of it. Intrigued?

Continue reading to learn even more interesting facts about steel and metal recycling, including how to make fast cash by selling scrap metal in Indiana.

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Facts About Steel Recycling

When you look around, you can likely see steel everywhere, in every direction. Steel is used in various industries across the land, including building and construction, medical, food and beverage, plumbing, automotive, aviation, fire protection, and much more. Your home and office are built with steel, and the appliances and other commodities within also contain steel. The best thing about steel, or any metal for that matter, is that it is 100% recyclable, and can be recycled over and over again without losing any calculable quality. Millions of tons of steel products and materials are recycled into new steel products each year!

The Benefits of Recycling Steel

One of the most important and primary parts of steel manufacturing is steel recycling. There are several benefits of recycling scrap metal. Not only does recycling metal help preserve our planet’s natural resources and reduce our need to mine for new ores, it decreases harmful factory emissions generated while producing new steel, which also positively impacts our environment. Virtually all of the steel used to manufacture new products and materials contain post-consumer steel product, better known as recycled steel. In fact, most states have a mandate known as a “buy recycled” mandate, which requires consumers to purchase recycled steel products when procuring material for large-scale production.

Where to Recycle Scrap Steel for Cash in Indianapolis, Indiana

Call Garden City Iron & Metal at 1-888-586-5322 for superior scrap metal recycling services in Indianapolis, or in Central and Southern Indiana. We pay cash on the spot for all scrap metal, including steel and iron. We also buy junk cars, car parts, appliances, construction equipment, motorized farming equipment, and much more! Get rid of your junk and make some fast cash at the same time.

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.