1 penny a pound right now.
As of June 4, 2009 - (price ranges below)
No.1 Steel Scrap (HMS1) 208.00 260.00 ton USD
No.1 Steel Scrap (2 foot) 228.80 286.00 ton USD
Special Scrap Plate Punchings 249.60 312.00 ton USD
No.2 Steel Scrap 187.20 234.00 ton USD
No.2 Steel Scrap (2 foot) 197.60 247.00 ton USD
No.3 Steel Scrap (Unprepared Bushling) 176.80 221.00 ton USD
No.4 Steel Scrap (Silicon Bushling) 156.00 195.00 ton USD
Source: Steel Prices
No.1 Steel Scrap (HMS1) 208.00 260.00 ton USD
No.1 Steel Scrap (2 foot) 228.80 286.00 ton USD
Special Scrap Plate Punchings 249.60 312.00 ton USD
No.2 Steel Scrap 187.20 234.00 ton USD
No.2 Steel Scrap (2 foot) 197.60 247.00 ton USD
No.3 Steel Scrap (Unprepared Bushling) 176.80 221.00 ton USD
No.4 Steel Scrap (Silicon Bushling) 156.00 195.00 ton USD
Source: Steel Prices