I'm checking, but do you know what the scrap prices of steel were back when the bid was made? I recall that the salvage prices had dropped significantly by then, so I'm not sure they are getting significantly less now.
FYI. Scrap metal prices are on the rise... again. When scrap tumbled I could only get .19 to .35 for brass. I just got 1.15 last saturday. My guess is steel and iron are also on the rise.