Stainless steel scrap is worth $0.30 to $1.00 per pound depending on grade. The common 304 grade (18-8) brings $0.50-$0.75 per pound, while 316 grade with its molybdenum content pays $0.70-$1.00. Non-magnetic response is the quick field test, and nickel content is the entire reason stainless outpays regular steel by 5-10x.
| Grade / Item | Low | High | Unit |
|---|---|---|---|
| 304 stainless (18-8) | $0.50 | $0.75 | USD/lb |
| 316 stainless | $0.70 | $1.00 | USD/lb |
| 430 stainless (magnetic) | $0.15 | $0.30 | USD/lb |
| Stainless turnings | $0.30 | $0.55 | USD/lb |
| Stainless sinks / drums | $0.40 | $0.70 | USD/lb |
| Country | Typical Range | Per Tonne | Cur. |
|---|---|---|---|
| United States | $0.15 – $1.00 /lb | $330 – $2,200 | USD |
| Canada | C$0.45 – C$3.00 /kg | C$450 – C$3,000 | CAD |
| United Kingdom | £0.25 – £1.65 /kg | £250 – £1,650 | GBP |
| Germany / EU | €0.30 – €2.00 /kg | €300 – €2,000 | EUR |
| Australia | A$0.50 – A$3.30 /kg | A$500 – A$3,300 | AUD |
| India | ₹30 – ₹195 /kg | ₹30,000 – ₹195,000 | INR |
| UAE / Dubai | 1.2 – 8.1 AED/kg | 1,200 – 8,100 AED | AED |
Rates for every other metal grade are collected in the complete scrap metal price index.
Why Stainless Pays So Much More Than Steel
Stainless steel’s scrap value has almost nothing to do with the steel and everything to do with the nickel. Grade 304 stainless contains roughly 8% nickel and 18% chromium; grade 316 adds 2-3% molybdenum on top. Nickel trades around $16,000-$17,000 per tonne on the LME, and that alloy content is what recyclers are actually buying.
That’s why the price gap between shred steel ($0.05-$0.10/lb) and stainless ($0.30-$1.00/lb) is so dramatic, and why yards check every load with a magnet before quoting.
Stainless flows into scrap from restaurant equipment, sinks, appliances, industrial piping, brewery tanks, medical equipment, and marine hardware. Commercial kitchen cleanouts are the classic jackpot.
The Grade Game: 304 vs 316 vs 430
304 (18-8) is everywhere: sinks, appliances, cookware, food equipment, and general fabrication. It’s non-magnetic (or very weakly magnetic when work-hardened) and pays the standard stainless rate of $0.50-$0.75/lb.
316 adds molybdenum for marine and chemical resistance. Boat hardware, pharmaceutical equipment, chemical piping, and coastal architectural fittings are the sources. It pays $0.70-$1.00/lb, and yards can verify it with an XRF gun in seconds.
430 is the trap. It looks identical to 304 but contains no nickel, sticks firmly to a magnet, and pays $0.10-$0.25/lb. Cheap appliance panels and trim are usually 430. The magnet sorts your pile in minutes and protects you from selling 304 at 430 prices, or the yard from paying 304 rates for your 430.
Where the Stainless Money Hides
- Restaurant closures: Prep tables, shelving, hoods, and sinks. A single kitchen cleanout can yield 500-2,000 lbs of 304.
- Kegs and brewery tanks: Note that branded kegs legally belong to breweries, so only scrap legitimately owned vessels.
- Appliance fronts: Stainless door panels unbolt from refrigerators and dishwashers in minutes, worth 5x the shred rate the rest of the carcass earns. Our scrap refrigerator guide covers the full teardown.
- Industrial piping and fittings: Process piping from plant demolitions is often 316 at the premium rate.
- Marine hardware: Rails, cleats, and props from boat salvage are 316 territory.
Common Mistakes That Shrink Stainless Payouts
- Skipping the magnet test: Mixing 430 into a 304 pile prices the whole load down. Sort first.
- Selling “dirty” stainless: Plastic handles, rubber feet, glass, and steel bolts drop clean pricing to attachment pricing. Strip what unbolts easily.
- Missing 316 premiums: If material came from marine or chemical service, ask the yard to XRF it. The 30-40% premium is worth the request.
- Scrapping working equipment: Used restaurant equipment resells for 10-50x scrap value. Check the used market before the torch comes out.
- Ignoring nickel prices: Stainless rates track LME nickel. A nickel rally is a stainless seller’s market.
Getting the Best Price
Magnet-test everything, strip attachments, separate suspected 316, and call 2-3 yards for their per-grade rates. On big loads, ask whether they’ll XRF-verify grades at the scale; reputable yards will.
Stainless is the mid-tier workhorse of scrap: not copper money, but far beyond steel, and abundant if you know where to look. Sort it as carefully as you’d sort bare bright copper, and the nickel content pays you back every time.
Related scrap price guides
- Bare Bright Copper Price: The Highest-Paying Scrap Grade
- Shredded Metal Scrap Cost: Mill Benchmarks & Yard Payouts
- Aluminum Scrap Price: What It’s Really Worth Per Pound Right Today
- Washing Machine Scrap Value: What Yards Pay & Breakdown Math
- Scrap metal price index — all 25 materials and part types