Steel isn’t just something holding up buildings—it’s money in your hands if you know where to look. In Ontario, scrap steel prices can feel like a rollercoaster. One day it’s worth the haul, the next it barely covers gas. And if you’re recycling to save cash or clear out space, every cent counts.
What’s the current scrap steel price in Ontario?
Right now, scrap steel in Ontario pays between CAD CAD 0.13 and CAD 0.47 per pound , depending on grade and market demand. High-grade, clean steel fetches the best rates, while mixed or dirty loads pay less.
While some where it is around $260 to $500per metric tonne, depending on the type, condition, and buyer. These rates change daily, mostly due to global demand, shipping costs, and local mill needs.
Some scrap yards pay more for heavy melt steel or industrial offcuts. If you’re bringing in household items like appliances or rusty fencing, expect a lower rate. Clean, sorted scrap gets better deals.
Quick Reference: Ontario Scrap Steel Prices (2025)
| Month | Low (CAD/lb) | High (CAD/lb) | Notes |
|---|---|---|---|
| January | 0.11 | 0.41 | Post-holiday market |
| May | 0.13 | 0.43 | Spring construction surge |
| August | 0.15 | 0.45 | Summer peak |
| November | 0.14 | 0.47 | Year-end project rush |
| December | 0.12 | 0.50 | Possible policy impacts |
What affects the price of scrap steel?
Scrap steel prices rise and fall based on demand from steel mills, global market shifts, fuel prices, and even weather.
Let’s say a car factory in Ontario ramps up production. That local demand can boost prices. But if international markets slow down—like China buying less steel—Ontario’s prices dip too.
Another factor? Fuel costs. If it costs more to ship scrap, yards pay less to balance the books.
Pro tip: Yard competition in cities like Toronto, Hamilton, and Ottawa means better prices. Smaller towns? Not always the same.
Where’s the best place to sell scrap steel in Ontario?
The best places to sell scrap steel in Ontario are well-established scrap yards in cities like Toronto, Hamilton, and Mississauga. They offer competitive rates and clear pricing.
These yards also tend to weigh fair, pay quickly, and accept a wide range of scrap types.
Look for yards that list their prices online—transparency shows they’re not hiding anything. Bonus points if they let you call in and get a quote.
How often do prices change?
Scrap steel prices in Ontario change every few days—sometimes even daily—depending on market demand and buyer contracts.
Some yards lock in rates weekly, while others go with the flow. If you’re sitting on a big pile, don’t wait too long. Timing can mean the difference between an extra $100 or losing it altogether.
It’s a bit like selling used cars—you want to hit the sweet spot.
What kinds of steel are worth the most?
The most valuable types of scrap steel in Ontario are #1 heavy melt, industrial plate and structural steel (P&S), and prepared steel under 5 feet in length.
If it’s clean, free of paint, rust, or non-metal attachments—you’re in a better spot.
Appliances? Sure, they count. But once you take out the plastic, motors, or foam, you might only get half the price.
Quick analogy: Think of steel like apples at a grocery store. Clean, crisp ones sell fast. Bruised, mixed ones go cheap or get tossed.
Can you make real money recycling steel?
Yes, you can make money recycling steel—especially if you collect in bulk or partner with contractors and businesses offloading scrap.
A few hundred pounds from an old deck or demo job? That’s gas money and then some.
Some folks in Ontario even turn scrap runs into side gigs—picking up old BBQs, broken tools, or shelving units from Facebook Marketplace and flipping them at the yard.
It’s not get-rich-quick, but it adds up.
Final tip: What should you do before heading to a yard?
Sort your metal, strip off anything non-steel (like rubber or plastic), and check the yard’s price board before loading up.
Every pound counts, but clean steel counts more. And if your haul isn’t worth the drive, wait a few days—prices might jump.
