The price depends on which kind of steel and the time. If you are selling something like 18/8 stainless steel, then the price is currently (April 2011) 65p per lb. This makes £1300 per ton. However the average price is currently 8p for a pound of scrap steel.
In order to estimate how much it is worth, you will need to find out what type of stainless steel it is. Stainless steel is an alloy comprised of steel and at least 10.5% chromium. The 18/8 figure mentioned above is a ratio to how much chromium and nickel are alloyed with the iron to create the stainless steel. This ratio affects the strength and longevity of the metal.
Steel is a ferrous metal which means it contains a significant amount if iron. Unfortunately, the market for ferrous metals is considerably cheaper than non-ferrous metals such as copper and brass.
Steel is one of the more common metals today, so the demand for it is lower than that of brass which is less commonplace now than it was in the previous century.
There are numerous websites dedicated to metallurgy and the trading of scrap metals. www.letsrecycle.com/ lists the prices (per ton, but divide that by 2000 for the price per lb as there are 2000lb to 1 ton) of various metals, both ferrous and non-ferrous. The price changes frequently, so the site keeps the records as up to data as possible.
Naturally, prices change and vary depending on demand and the economy. Different traders will give different prices depending on where they are and how much they need/already have. If you’re trading in the US, the prices will differ in each state.
For more information about metals and their prices see this site: www.metalprices.com/
In order to estimate how much it is worth, you will need to find out what type of stainless steel it is. Stainless steel is an alloy comprised of steel and at least 10.5% chromium. The 18/8 figure mentioned above is a ratio to how much chromium and nickel are alloyed with the iron to create the stainless steel. This ratio affects the strength and longevity of the metal.
Steel is a ferrous metal which means it contains a significant amount if iron. Unfortunately, the market for ferrous metals is considerably cheaper than non-ferrous metals such as copper and brass.
Steel is one of the more common metals today, so the demand for it is lower than that of brass which is less commonplace now than it was in the previous century.
There are numerous websites dedicated to metallurgy and the trading of scrap metals. www.letsrecycle.com/ lists the prices (per ton, but divide that by 2000 for the price per lb as there are 2000lb to 1 ton) of various metals, both ferrous and non-ferrous. The price changes frequently, so the site keeps the records as up to data as possible.
Naturally, prices change and vary depending on demand and the economy. Different traders will give different prices depending on where they are and how much they need/already have. If you’re trading in the US, the prices will differ in each state.
For more information about metals and their prices see this site: www.metalprices.com/
