No material around the world is recycled more than steel. In fact, steel is recycled more than all other materials combined. Still, the United States throws away enough steel to continuously supply all of the nation’s automakers.

Steel has amazing metallurgical properties, which allow it to be recycled over and over without any degradation in the quality of the metal. So, a washing machine made from virgin metal is no different than a washing machine made from metal that has been recycled three times. For this reason, scrap steel prices remain strong.

Types of Scrap Steel

Scrap steel are classified into three main categories: obsolete scrap steel, prompt scrap steel, and home scrap steel.

Obsolete scrap steel is retrieved from obsolete objects so that scrap metal does not end up in landfill sites. Instead, it is converted into raw materials for new products. Obsolete scrap is recovered from sources such as end-of-life automobiles, appliances, farm equipment, structural metal, and ships. Because the chemical properties of obsolete scrap are largely unknown, it must be sorted and processed before it can be used.

Prompt scrap steel is generated during the fabrication of metal products. Because the chemical properties are known, prompt scrap can be quickly returned to the mill for reprocessing.

Home scrap steel are the trimmings, pigged metal, and rejects generated during mill or foundry production. Like prompt scrap steel, this type of scrap has known chemical properties and is easily combined with other raw materials and reprocessed on-site.

Steel Recycling Facts

One ton of recycled steel saves:

• 642 kWh of electricity
• 76 gallons of oil
• 10.9 million BTUs of energy
• 4 cubic yards of landfill space
• 2,500 pounds of iron ore
• Steel takes up to 100 years to fully degrade in a landfill

Recycling steel takes 25% less energy and creates only 25% the water and air pollution required to produce steel from raw materials. Tin cans are made up mostly of steel, containing only about 0.15% tin and are 100% recyclable; 630 steel cans are recycled every second in the U.S.

How to Command the Best Scrap Steel Prices

Scrap steel prices based on recovery rates. Steel scrap that is free of non-metallic attachments and is unadulterated by other alloying metallic elements will receive a higher value because it is in furnace-ready form. So, when you bring your steel scrap to us, it is important to have it separated correctly. If we must separate the scrap metal for you, then we can’t pay you top scrap steel prices. To get the most money for your scrap, you need to separate it before bringing it to our Benton scrap yard.

Our prices are based on globally published commodity indexes. In accordance with best business practices, providing transparent pricing helps you understand the value of your waste materials. By using index-based pricing, we can build a settlement processes that allow your business to hedge risks, helping you establish predictable cash flows.

Because Benton Metal Recycling is a privately funded company, we are able to tailor the contract terms to satisfy your business needs. We understand that the value recovered from your scrap commodities is an integral part of your business. As such, it’s our job to pay you on time, every time, and to find the best end-markets to ensure highest prices are paid.

We understand that decommissioning, demolition, and asset recovery projects can be capital intensive and have a serious impact on your cash flows. It’s our goal to have you win the bid. By providing cash advances, we alleviate the up-front financial obstacles so your revenue streams can be realized. We support the success of your project and provide financial assistance at every turn.