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Iron is a very popular metal when it comes to both commercial and residential recycling. This includes cast iron, nails and screws, iron shelving, air conditioners, gym equipment, bike frames, washers, refrigerators and much more. If you are looking to scrap iron it is important to understand the iron market, where it is headed and how to ensure you get the most our of your recycling efforts.
The iron market is severely driven by the industrial consumer since scrap metal is generally recycled to be used as an alternative to more costly virgin materials. Not only is scrap metal less costly than using virgin materials for the consumer, but it is more energy efficient. As the market for scrap metal by these consumers is always changing the prediction of iron scrap pricing is almost impossible.
In comparison to the other metals on the market, iron consistently shows to be least in demand with the lowest trade in value. In California you can expect the going rate for iron to be anywhere from $.03 to $.10 per pound. However, due to the low value of iron, iron is typically priced and accepted in tons versus pounds like more valued metals are accepted in.
Since the iron market is unpredictable and doesn’t increase by much when it’s at a high, we suggest saving it up and turning it in for cash when you have at least a full ton. This will ensure you get full value for your iron scrap. Give us a call at our nearest location to find the current going rate for iron as it fluctuates daily.