How Much Is Scrap Metal Worth Per Pound?

The value of scrap metal is dynamic, influenced by global and local economic forces. Understanding its worth per pound means recognizing that prices are not static. Instead, the worth of discarded metals shifts, reflecting supply and demand, material quality, and processing requirements. This variability means the same metal can command different prices depending on various factors. Individuals and businesses selling scrap metal benefit from understanding these principles.

Factors Influencing Metal Value

A metal’s intrinsic characteristics, particularly whether it is ferrous or non-ferrous, fundamentally dictate its value in the scrap market. Ferrous metals, which contain iron and are magnetic (e.g., steel, iron), are abundant and command lower prices. Non-ferrous metals (e.g., copper, aluminum, brass, lead) do not contain iron, are not magnetic, and are more valuable due to scarcity, unique properties, and higher manufacturing demand.

Global supply and demand exert a significant influence on scrap metal prices, reflecting the broader economic landscape. When industrial production increases, demand for raw materials, including recycled metals, rises, driving up values. Conversely, an economic downturn or reduced manufacturing activity leads to decreased demand and lower prices. Global interconnectedness means economic indicators, such as manufacturing output, construction activity, and geopolitical events, can cause rapid fluctuations.

The purity and grade of scrap metal are also important in determining its per-pound worth. Clean, uncontaminated metal, such as bare bright copper wire or segregated aluminum alloys, fetches a higher price due to less processing. Insulated wires, mixed metal loads, or materials with attachments like plastic, steel, or dirt, are considered “dirty” or lower grade, reducing their value due to additional processing. Bare bright copper, free of coatings and attachments, is consistently among the highest-priced non-ferrous metals.

The quantity of scrap metal being sold can also affect its per-pound price. Larger volumes of a single, well-sorted material can allow scrap yards to offer better rates, reducing handling and sorting costs. Form and condition also play a role; for example, clean aluminum extrusions might be more valuable than mixed aluminum breakage containing contaminants. Prepared scrap, cut or processed into manageable sizes, commands a better price than unprepared material, requiring further effort.

Common Metals and Their General Value

Copper commands high prices in the scrap market. Bare bright copper wire, clean, uncoated, and unalloyed, fetches the highest rates, from $3.00 to $4.52 per pound. Other grades, such as #1 copper tubing or wire (clean but with minor discoloration or solder), sell for slightly less, between $2.90 and $3.50 per pound. Insulated copper wire, common in electrical applications, has a lower value due to insulation weight and removal effort, with prices varying widely based on copper recovery percentage, from $0.70 to $2.58 per pound.

Aluminum, a common non-ferrous metal, is widely recycled but holds a lower value than copper. Aluminum cans, often collected by individuals, are valued between $0.56 to $0.70 per pound. Clean aluminum extrusions, such as window frames or structural tubing, command higher prices, around $0.70 to $0.88 per pound, especially when free of contaminants. Cast aluminum, found in engine parts or outdoor furniture, falls between $0.68 to $0.72 per pound.

Brass, an alloy of copper and zinc, is a valuable non-ferrous metal, though less than pure copper. Yellow brass, common in plumbing fixtures and decorative items, sells for approximately $1.90 to $2.50 per pound. Red brass, with a higher copper content, fetches a better price, between $2.70 and $3.10 per pound. Prices vary depending on the cleanliness of the brass and any attachments.

Stainless steel, primarily the non-magnetic 300 series (like 304 and 316 grades), is a non-ferrous alloy that retains some value, less than copper or brass. Prices for prepared stainless steel, such as 304 grade, range from $0.30 to $0.66 per pound. Higher grades like 316 stainless steel, known for increased corrosion resistance, can achieve slightly higher prices, up to $0.86 per pound.

Lead, often found in automotive batteries or wheel weights, is a non-ferrous metal with distinct scrap value. Clean lead sells for about $0.47 to $0.50 per pound. Lead-acid auto batteries are valued lower, around $0.16 to $0.20 per pound, due to acid and other materials.

Ferrous metals, such as iron and steel, are the largest volume of recycled metals but have the lowest per-pound value. Light iron, found in household appliances and thin-gauge steel, can be as low as $0.03 per pound or $125.26 per ton. Cast iron may yield slightly more, around $0.06 to $0.07 per pound. Heavy melt steel, used in construction and machinery, sells by the ton, around $210 to $335 per ton, translating to a few cents per pound.

Assessing Your Metal’s Weight and Purity

Before selling scrap metal, accurately assessing its type, weight, and purity is an important step. A simple magnet test distinguishes between ferrous and non-ferrous metals; if a magnet sticks, the metal is ferrous (iron or steel) and less valuable. If it does not stick, it is likely a non-ferrous metal such as copper, aluminum, or brass, which are more valuable.

Visual inspection refines metal identification. Copper is recognizable by its reddish-brown color, while brass has a yellowish hue. Aluminum is silvery-white and lightweight. Identifying markings, stamps, or common applications provide clues about the metal type and its specific alloy. For instance, plumbing pipes are copper or brass, while window frames are aluminum.

Determining the purity or grade of your metal involves removing contaminants and separating different materials. For insulated copper wire, stripping the insulation can increase its value by yielding bare bright or #1 copper. This process requires time and effort, and the increased value must outweigh the labor involved. Separating different types of aluminum, such as beverage cans from cast aluminum parts, helps maximize return, as mixed loads are often downgraded.

Cleaning the metal by removing non-metal attachments like plastic, rubber, or excessive dirt improves its grade and value. For example, ensuring aluminum rims are free of rubber tires and lead wheel weights enhances their price. Weighing your metal can be done using household scales for smaller quantities, providing an estimate. For larger amounts, preparing the metal by neatly stacking or bundling it facilitates a quicker and more accurate weighing process at the scrap yard.

Finding Current Prices and Selling Your Metal

To obtain accurate pricing for your scrap metal, contacting local scrap metal yards or recycling centers is the effective approach. Prices fluctuate daily, so information gathered days prior may not be precise. Many scrap yards list general price ranges on their websites or through dedicated apps, but a direct inquiry is necessary for specific types and grades. Call multiple facilities to compare prices, as rates can vary significantly between buyers.

When contacting a scrap yard, describe your metal precisely, including its type, grade (e.g., bare bright copper, clean aluminum extrusion), and estimated quantity. Some facilities may ask about the metal’s form or condition, such as whether it is prepared or contaminated. This detailed information allows the buyer to provide a more accurate quote, reflecting their current demand and processing capabilities. The quoted price is subject to physical inspection and verification upon arrival.

Upon visiting a scrap yard, expect a standardized process. Facilities have scales to accurately weigh your material, from smaller scales for valuable non-ferrous metals to large truck scales for ferrous loads. You will be required to present a valid government-issued photo identification, such as a driver’s license or state ID card, for legal compliance. Many jurisdictions require scrap yards to record seller information, including a copy of the ID, and sometimes a photograph or fingerprint, to deter the sale of stolen materials.

Payment methods for scrap metal are subject to state-specific regulations, which restrict or prohibit cash payments, particularly for higher-value non-ferrous metals or transactions above certain thresholds. Payments are made via check or electronic transfer, creating a traceable transaction record. Some states may impose a mandatory waiting period, a few days, before payment can be issued for transactions exceeding specific value amounts. This waiting period allows time for law enforcement to investigate any reported thefts.