Disclosed is a method for efficiently and economically separating and recovering elements, such as copper, that coexist in scrap iron, wherein scrap iron is melted and the molten product of scrap iron obtained is brought into contact with molten Ag. Thus elements which coexist in the scrap iron move to the molten Ag due to the partition equilibrium between the scrap iron molten product and the molten Ag and are removed by oxidation. It is preferable the scrap iron molten product contains C and more preferable said molten product is saturated with dissolved C.