The price of structural steel per pound depends on several factors including what type, or shape, of steel you are purchasing, whether or not there is a bulk discount and if shipping cost is included.
Type of Steel
The price of structural steel depends on the shape of the steel you are purchasing. The most common shapes are W shapes, channels, angle iron, tube, pipe, grates and coils. The Demxx website has rates in the 40- to 45-cent range per pound for salvaged steel.
The MEPS website gives monthly rates for several types of structural steel in all of the world's major markets. All of these rates are for new structural steel and are given in U.S. dollars. The MEPS site also forecasts future prices up to one year in advance.
Selling Scrap Steel
To find out how much money you can make by selling scrap steel per pound, you have to do some calculations. Go to the Commodity Prices section of SteelontheNet.com and get the current price per ton. One ton equals 2,000 pounds. So X/2000 = tons, when X = pounds you have.
Example: You have 500 pounds of steel, so 500/2000 = .25. You have .25 tons of steel at whatever the current exchange rate is.
Sue Williams is a freelance writer specializing in the strange and unusual. She began writing professionally in 1990 and has been published in "The Offbeat," "The Dewitt Chronicle" and the "Haslett Gazette." She holds a master's degree in communication from State University of New York, Albany.