Last updated: 15 October 2026. Indicative US scrap-yard buying prices. Prices vary by yard, grade, quantity, and location — always confirm locally. These are not COMEX/LME exchange prices.
Note: “gt” = gross ton = 2,240 lb.
Current Scrap Steel Prices
| Grade | Indicative price |
|---|---|
| #1 Prepared steel | $0.08 – $0.18/lb ($179 – $403/gt) |
| Light iron / sheet metal | lower end of range |
| Cast iron | varies by yard — call ahead |
Steel Grades Explained
Prepared steel (cut to yard specs, clean) pays more than light iron (thin, bulky sheet). Cast iron is graded separately.
Frequently Asked Questions
Why is scrap steel so cheap per pound?
Steel is abundant and heavy — yards buy by the ton and margins are thin; volume is what makes it worthwhile.
What is the difference between #1 steel and light iron?
#1 is thicker, cleaner, prepared material; light iron is thin sheet and appliances — yards pay less for it.
Related: full scrap price list and steel guide.
