What Is the Price Per Pound of Stainless Steel?
The price per pound of stainless steel varies, but the current price for a pound of stainless steel is between $1 and $3, depending on the type. Stainless steel, along with other steel products and metals, is a commodity. That means that its value is determined by the commodities market.
In some cases, consumers may be able to see the current value of stainless steel by looking at a list of commodity values. For example, the World Bank publishes quarterly updates on the values of metals including steel products.
However, simply because stainless steel is worth a certain amount in the commodities market does not mean that a consumer is able to sell his own stainless steel for the same amount of money. Instead, the consumer should check on the prices that scrap yards are willing to pay in his area. Scrap yards usually pay more per pound the more metal one has. That means that a heavy lot of stainless steel is likely to be worth more per pound than a lightweight lot.
Some stainless steel is an alloy, meaning that it contains more than one kind of metal. If stainless steel is not pure, it is usually not worth as much per pound.