Scrap Iron Prices — Cast Iron, Wrought Iron & More

Iron is one of the most abundant metals on Earth and forms the basis of all steel production. Scrap iron is classified as a ferrous metal, meaning it contains iron and is magnetic. While iron scrap prices are lower per pound than non-ferrous metals like copper or aluminum, the sheer volume of iron available in demolition, manufacturing, and end-of-life products makes it a significant revenue source for industrial sellers and scrappers alike.

Types of Scrap Iron We Buy

Cast iron is the most common form of scrap iron we purchase. It is characterized by its high carbon content (2–4%), which makes it brittle but excellent for casting complex shapes. Common sources include brake drums and rotors, engine blocks, cast iron cookware, manhole covers, sewer pipe, and decorative items like wood stoves and fireplace inserts. Wrought iron contains very little carbon and is known for its malleability — it is commonly found in fencing, gates, railings, and ornamental ironwork. Ductile iron (also called nodular or spheroidal graphite iron) is used in pipe, valve bodies, and automotive components.

How to Identify Iron vs. Steel

Both iron and steel are magnetic, but they can be distinguished by several characteristics. Cast iron is typically thicker, heavier, and more brittle than steel. It often has a rough, grainy texture when broken. Steel is more uniform, can be bent without breaking, and is generally smoother. For pricing purposes, most scrap yards group iron and steel together as "ferrous scrap," though cast iron sometimes commands a slight premium due to its density and consistent composition.

Iron Scrap Market Factors

The price of scrap iron is influenced by the same factors that drive steel prices: global demand from foundries and steel mills, transportation costs, energy prices, and seasonal construction activity. Iron foundries use scrap iron to produce new castings, while electric arc furnace (EAF) steel mills use it as feedstock. The domestic market is also affected by import/export dynamics, particularly competition from Turkish and Asian buyers for bulk ferrous scrap.

Preparing Iron Scrap for Maximum Value

To maximize the value of your scrap iron, remove any non-metallic attachments such as concrete, wood, rubber, or plastic. Separate cast iron from regular steel when possible, as some buyers pay a premium for clean cast iron. For large demolition or plant shutdown projects, contact us before beginning work — we can provide containers, on-site sorting guidance, and guaranteed pricing for your entire project.