Grade 316 stainless steel scrap containing molybdenum for enhanced corrosion resistance.
Last updated: November 10, 2026
Derived: 316 scrap: 11% contained nickel at the live LME price, plus a reviewed USD 520/MT chrome, molybdenum and iron base
MetalsPlace's derived stainless steel scrap 316 figure is 2,147.32 USD/MT as of 10 November 2026. It is calculated, not quoted: 316 scrap: 11% contained nickel at the live LME price, plus a reviewed USD 520/MT chrome, molybdenum and iron base. That is up 2.86% since 11 Oct 2026.
| Price | 2,147.32 USD/MT |
|---|---|
| As of | 10 November 2026 |
| Type of figure | Derived figure, calculated from live prices |
| What it measures | 316 scrap: 11% contained nickel at the live LME price, plus a reviewed USD 520/MT chrome, molybdenum and iron base |
| Source | Calculated by MetalsPlace from live LME prices (formula above) |
| Change since 11 Oct 2026 | +2.86% |
| Unit | USD/MT (US dollars per metric tonne) |
Indicative only, not a contract price. How MetalsPlace sources its prices
316 is the marine and chemical grade of stainless steel: on top of the 16–18% chromium and 10–14% nickel it shares broadly with 304, it carries 2–3% molybdenum, which gives far better resistance to chlorides and pitting. That molybdenum and extra nickel are why 316 scrap is worth more than 304, and why its price follows both the LME nickel and molybdenum markets.
316 contains 2–3% molybdenum and more nickel than 304. Both are expensive alloying elements, so mills pay a premium for scrap that supplies them, provided the grade is verified.
It looks the same as 304 and is also non-magnetic, so yards use handheld XRF or spark analysers to detect molybdenum. Sellers who can document 316 content get paid at the 316 price instead of being downgraded.
Mainly LME nickel and molybdenum prices, plus stainless mill demand. A rise in molybdenum widens the gap between 316 and 304.
| Date | Price | Daily Change |
|---|---|---|
| Nov 10, 2026 | 2,147.32 | -0.47% |
| Nov 9, 2026 | 2,157.52 | -0.18% |
| Nov 8, 2026 | 2,161.38 | +0.13% |
| Nov 7, 2026 | 2,158.52 | +0.69% |
| Nov 6, 2026 | 2,143.73 | +1.64% |
| Nov 5, 2026 | 2,109.17 | +2.26% |
| Nov 4, 2026 | 2,062.47 | -0.45% |
| Nov 3, 2026 | 2,071.70 | +1.30% |
| Nov 2, 2026 | 2,045.09 | — |
| Nov 1, 2026 | 2,045.39 | +0.03% |
| Oct 31, 2026 | 2,044.75 | -1.33% |
| Oct 30, 2026 | 2,072.27 | -0.79% |
| Oct 29, 2026 | 2,088.81 | +0.67% |
| Oct 28, 2026 | 2,074.84 | -0.08% |
| Oct 27, 2026 | 2,076.48 | -0.99% |
| Oct 26, 2026 | 2,097.15 | -0.36% |
| Oct 25, 2026 | 2,104.67 | -0.10% |
| Oct 24, 2026 | 2,106.68 | -0.51% |
| Oct 23, 2026 | 2,117.56 | -1.14% |
| Oct 22, 2026 | 2,141.89 | +1.94% |
| Oct 21, 2026 | 2,101.15 | +1.09% |
| Oct 20, 2026 | 2,078.57 | +0.93% |
| Oct 19, 2026 | 2,059.37 | +0.08% |
| Oct 17, 2026 | 2,057.66 | +0.54% |
| Oct 16, 2026 | 2,046.56 | -1.31% |
| Oct 15, 2026 | 2,073.66 | -0.14% |
| Oct 14, 2026 | 2,076.49 | -0.28% |
| Oct 13, 2026 | 2,082.42 | -0.24% |
| Oct 12, 2026 | 2,087.35 | — |
| Oct 11, 2026 | 2,087.56 | — |
Prices are indicative and updated daily. Not for use as binding contract prices.