How much is scrap iron per pound in 2016?

The price for scrap iron would depend on where in the world it is sold, and who is buying it, it also depends on the grade/quality of the scrap.

In the UK the current prices for scrap iron are £70 per ton for cast iron, £85 per ton for plate and girders, £45 per ton for light iron.

There are 2240 pounds in a imperial ton, that's roughly 2p to 3p per pound.