The payment you receive for scrap metal recycling is typically based on the weight, so the amount you have is important. Nonferrous metals are generally worth more than ferrous metals. Automotive parts such as engines and batteries are the most valuable metal items for recycling due to their large size and metal content. It's best to wait until you have a significant quantity to ensure maximum payment if you plan to recycle smaller items like cans or coat hangers.
As of January 2021, the average prices for steel vary between 25 to 50 cents per pound, depending on the type.