Steel & Iron (Ferrous) Scrap Prices in Michigan
Get the unvarnished truth on Steel & Iron (Ferrous) scrap prices in Michigan. Track local scale payouts against the CME, run your tonnage through our load calculator, and locate the highest-paying scrap yards before you dump your trailer.
Steel & Iron (Ferrous) Scrap Price Trends
over the last 6 monthsIn the last 6 months in the Steel & Iron (Ferrous) category: price is up for 1 grade, price is steady for 5 grades, and price is down for 2 grades.
Current Steel & Iron (Ferrous) Payouts by Grade
Below is the real-time breakdown for Steel & Iron grades in Michigan, swinging from $0.09/lb for lower-tier material up to $0.18/lb for premium heavy melt. For instance, heavy Plate & Structural Steel (P&S) typically commands $0.13 to $0.13/lb, while everyday Light Iron & Shredder is pulling around $0.10 to $0.11/lb. If you've got Automotive Cast Iron (Rotors/Drums), expect yards to offer $0.15 to $0.18/lb. Know your grade before you hit the scale.
Top Yards Buying Ferrous Scrap in Michigan
Live prices from local scrap yards in Michigan. Compare offers and find the buyer paying the most.
Benton Metal Recycling
RJ Industrial Recycling
Reid Metals Inc
Iron Mike Scrap Metal Services
Division Metal Recyclers
Kalamazoo Metal Recyclers Inc
Your competitors are already getting customers from here.
Hundreds of people search for the best scrap prices in Michigan every day. Add your yard and start capturing those leads.
🚀 List your scrap yard ⟶Price Chart & History
See how local yard buy prices track the exchange (CME). Use this chart to judge whether it's a good time to cash in now or wait for yards to catch up with the latest exchange move.
Calculate Your Ferrous Scrap Load Value
Selling a mixed load? Pick the grades below — a weight field appears after you select at least one grade, then the calculator estimates your haul’s value from current average prices in Michigan.
Grade Value: Density, Prep, and Mill Demand
The exchange price represents pure, refined metal (99.9%+). Each scrap grade contains varying levels of impurities, which require different amounts of processing. The higher the percentage, the more valuable the grade and the closer its payout is to the spot price.
| Grade | Exchange (100%) | Yard Price (per lb) | Grade Quality |
|---|---|---|---|
| Automotive Cast Iron (Rotors/Drums) | $0.18 CME | $0.17 | High Grade•92% |
| Plate & Structural Steel (P&S) | $0.18 CME | $0.13 | Mid Grade•72% |
| #1 Prepared Steel (HMS) | $0.18 CME | $0.13 | Mid Grade•70% |
| #2 Prepared Steel | $0.18 CME | $0.12 | Low Grade•67% |
| Cast Iron (Heavy) | $0.18 CME | $0.12 | Low Grade•64% |
| Light Iron & Shredder | $0.18 CME | $0.11 | Low Grade•58% |
| Unprepared Steel (Torch & Shear) | $0.18 CME | $0.11 | Low Grade•58% |
| Tin (Sheet Metal) | $0.18 CME | $0.10 | Low Grade•56% |
📊 What Determines Ferrous Grade Value:
- Density & Thickness: Mills want heavy melting steel (HMS). Quarter-inch thick plate pays massively more than thin gauge tin.
- Preparation: If a yard has to torch your 10-foot I-beam down to a 3-foot section, they'll buy it as Unprepared and pay you less.
- Contamination: Dirt, concrete on rebar, or heavy rust scale will get your load downgraded to shred.
- Market Spread: Local demand and the 38.3 margin against the CME dictate what the scale actually pays.
Stop Losing Tonnage Value on Mixed Ferrous Loads
Let's get straight to it. Steel and iron might be the lowest-paying metals per pound, but in the scrap game, ferrous is all about volume. Payouts for Steel & Iron (Ferrous) in Michigan are currently sitting between $0.09/lb for light tin and up to $0.18/lb for prime structural steel, averaging right around $0.12/lb. If you're hauling mixed loads of Rebar, old washing machines, and heavy I-beams all in the same trailer, the scale master is going to write you a ticket for the cheapest grade. Throwing premium prepared steel into a pile of Light Iron & Shredder is a rookie move that can cost you over $0.07 on a heavy load. Knowing how yards categorize iron is how you actually turn a profit at the scale.
The Iron Peddler's Sorting Guide
Mills dictate what yards buy, and mills care about density and chemistry. Here is how you need to separate your steel before driving through the gates:
- #1 Prepared Steel (HMS) & Plate & Structural Steel (P&S): This is your heavy hitter material. It needs to be thick (usually 1/4 inch or more) and cut to specific lengths (often 3 to 5 feet depending on the yard's shear). Expect buyers to offer around $0.10 to $0.15/lb for properly prepped heavy melt.
- Unprepared Steel (Torch & Shear): Got a massive excavator bucket or a 20-foot steel pipe? If the yard has to pay a guy to cut it down with a torch or run it through their shear, they will penalize you. Payouts drop to $0.10 to $0.11/lb.
- Automotive Cast Iron (Rotors/Drums): Clean brake rotors are pure density and melt beautifully. Keep them out of the shred pile. Buyers typically pay a solid $0.15 to $0.18/lb for clean rotors.
- Tin (Sheet Metal) & Wire Fence: The bottom of the barrel. Old roofing tin, water heaters, and fencing are mostly air and rust. Yards just want to feed this into the shredder, paying around $0.10 to $0.10/lb.
Yard Pro Tip: If you are hauling heavy structural steel or thick pipe, invest in a good oxy-acetylene torch setup. The price difference between Unprepared Steel and #1 Prepared Steel is massive. Spending 20 minutes cutting a long beam down to 3-foot sections can easily double your payout for that piece of metal. Don't pay the yard's labor costs out of your own pocket.
Understanding Mill Demand and Local Margins Michigan
Ferrous pricing is notoriously volatile. Scrap buyers base their numbers on export demands and domestic mill purchasing, utilizing the CME to gauge the market. When steel mills are hungry, prices surge. When yards have to stockpile because of a market dip or logistics issues, you'll see the 38.3 margin widen, eating into your profits. Watching the market trends and stockpiling your heavy iron for a price bump is a veteran move.
Market Insights
How Are Ferrous Scrap Prices Set?
Steel and iron prices are heavily driven by global export demand and domestic steel mill production. Yards base their board prices on the CME index, factoring in a 38.3 spread to cover shearing, shredding, and hauling costs. Currently, the ferrous category averages $0.12/lb, but because iron is a volume game, prices are usually quoted per gross ton (2,240 lbs) or net ton (2,000 lbs) for large peddlers.
Tips to Maximize Your Steel Load
- Cut it to length: Slicing long structural pieces into 3-foot or 5-foot prepared sections instantly upgrades your payout.
- Sort out the cast: Automotive cast iron, like brake rotors and drums, is a premium grade. Don't throw it in with the tin.
- Know your tare weight: Iron is heavy. Always make sure you know your truck's empty weight before hitting a new scale to ensure you're getting paid for every pound.
Frequently Asked Questions
What is the difference between Prepared and Unprepared Steel?
Prepared steel (#1 HMS) has already been cut to the exact dimensions required by the steel mills (typically under 3 or 5 feet in length and at least 1/4 inch thick). Unprepared steel is too large or bulky to go straight to the mill, meaning the scrap yard has to spend time, gas, and labor shearing or torching it. Because of this extra work, unprepared steel always commands a lower price at the scale.
Do scrap yards buy wire fence?
Yes, but it is considered a very low-tier ferrous grade. Wire Fence is mostly air, incredibly difficult to handle, and gets tangled in yard equipment. It is almost always bought at the lowest shred or tin price. Make sure it is rolled up tightly and free of massive concrete posts to ensure the yard doesn't reject it outright.
Why do brake rotors pay more than regular light iron?
Automotive Cast Iron (Rotors/Drums) is extremely dense, clean, and melts at a consistent temperature, making it highly desirable for foundries. Light iron, on the other hand, is thin, often coated in plastic or paint, and yields much less pure steel after shredding and melting. Always separate your rotors from your regular shred to get the maximum payout.
Steel & Iron (Ferrous) scrap prices in Michigan on the map
The map shows cities in Michigan with Steel & Iron (Ferrous) scrap prices. Click a marker or pick a city in the list below to see Steel & Iron (Ferrous) prices in that location.