Grade 304 stainless steel scrap (18/8 chrome-nickel), the most common austenitic stainless steel.
Last updated: November 10, 2026
Derived: 304 (18/8) scrap: 8% contained nickel at the live LME price, plus a reviewed USD 430/MT chrome and iron base
MetalsPlace's derived stainless steel scrap 304 figure is 1,613.50 USD/MT as of 10 November 2026. It is calculated, not quoted: 304 (18/8) scrap: 8% contained nickel at the live LME price, plus a reviewed USD 430/MT chrome and iron base. That is up 2.77% since 11 Oct 2026.
| Price | 1,613.50 USD/MT |
|---|---|
| As of | 10 November 2026 |
| Type of figure | Derived figure, calculated from live prices |
| What it measures | 304 (18/8) scrap: 8% contained nickel at the live LME price, plus a reviewed USD 430/MT chrome and iron base |
| Source | Calculated by MetalsPlace from live LME prices (formula above) |
| Change since 11 Oct 2026 | +2.77% |
| Unit | USD/MT (US dollars per metric tonne) |
Indicative only, not a contract price. How MetalsPlace sources its prices
304 is the most widely used stainless steel — the 18/8 grade, with about 18% chromium and 8% nickel. Its scrap value is driven mainly by nickel: when the LME nickel price moves, 304 scrap follows within days. It is non-magnetic in its annealed state, which is how scrap yards first separate it from ferritic and 400-series grades.
Buyers price 304 scrap largely on its contained nickel, chromium and iron, so it tracks LME nickel closely. Clean solids command the best price; turnings and mixed loads are discounted for contamination and uncertain chemistry.
Annealed 304 is essentially non-magnetic, which yards use as a first sort. Cold working can make it slightly magnetic, so analysers are used to confirm grade and distinguish it from 316.
316 contains 2–3% molybdenum and somewhat more nickel, so it is worth more than 304. Mixing them costs the seller money because the load is paid at the lower grade.
| Date | Price | Daily Change |
|---|---|---|
| Nov 10, 2026 | 1,613.50 | -0.46% |
| Nov 9, 2026 | 1,620.92 | -0.17% |
| Nov 8, 2026 | 1,623.73 | +0.13% |
| Nov 7, 2026 | 1,621.65 | +0.67% |
| Nov 6, 2026 | 1,610.90 | +1.59% |
| Nov 5, 2026 | 1,585.76 | +2.19% |
| Nov 4, 2026 | 1,551.80 | -0.43% |
| Nov 3, 2026 | 1,558.51 | +1.26% |
| Nov 2, 2026 | 1,539.15 | — |
| Nov 1, 2026 | 1,539.38 | +0.03% |
| Oct 31, 2026 | 1,538.91 | -1.28% |
| Oct 30, 2026 | 1,558.93 | -0.77% |
| Oct 29, 2026 | 1,570.95 | +0.65% |
| Oct 28, 2026 | 1,560.79 | -0.08% |
| Oct 27, 2026 | 1,561.99 | -0.95% |
| Oct 26, 2026 | 1,577.02 | -0.35% |
| Oct 25, 2026 | 1,582.49 | -0.09% |
| Oct 24, 2026 | 1,583.95 | -0.50% |
| Oct 23, 2026 | 1,591.86 | -1.10% |
| Oct 22, 2026 | 1,609.55 | +1.87% |
| Oct 21, 2026 | 1,579.93 | +1.05% |
| Oct 20, 2026 | 1,563.51 | +0.90% |
| Oct 19, 2026 | 1,549.54 | +0.08% |
| Oct 17, 2026 | 1,548.30 | +0.52% |
| Oct 16, 2026 | 1,540.23 | -1.26% |
| Oct 15, 2026 | 1,559.94 | -0.13% |
| Oct 14, 2026 | 1,561.99 | -0.28% |
| Oct 13, 2026 | 1,566.30 | -0.23% |
| Oct 12, 2026 | 1,569.89 | — |
| Oct 11, 2026 | 1,570.04 | — |
Prices are indicative and updated daily. Not for use as binding contract prices.