Prepared steel/iron scrap must be one quarter inch thick or more, with material no larger than 2 feet by 5 feet in size. It may not include materials such as non-ferrous metals (copper, aluminum, brass, etc.).
Unprepared steel/iron scrap can include materials larger in size than prepared materials. Typically, materials should stay within the 6 feet by 20 feet range. These materials can contain non-ferrous attachments such as copper, aluminum, and brass.
Prepared steel has more value than unprepared, and sells for more money. One should consider labor costs/time when preparing iron/steel versus selling unprepared.