The fire broke out at Sims Metal Management just before 11 p.m. Monday and continued burning through the night.
The site is surrounded by water on almost all sides, hampering firefighting efforts.
Callers to FDNY reported smelling smoke in Upper Manhattan and the Bronx.
The second alarm fire is under control, but firefighters will be hitting hot spots for an extended period of time.
No injuries have been reported.
The facility has been the site of at least six major fires since 2010.
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