Stainless steel scrap containing nickel and chromium.
Last updated: November 10, 2026
Derived: 304 mill product: 8% contained nickel at the live LME price, plus a reviewed USD 1,600/MT conversion and base-metal cost
MetalsPlace's derived stainless steel figure is 2,783.50 USD/MT as of 10 November 2026. It is calculated, not quoted: 304 mill product: 8% contained nickel at the live LME price, plus a reviewed USD 1,600/MT conversion and base-metal cost. That is up 1.59% since 11 Oct 2026.
| Price | 2,783.50 USD/MT |
|---|---|
| As of | 10 November 2026 |
| Type of figure | Derived figure, calculated from live prices |
| What it measures | 304 mill product: 8% contained nickel at the live LME price, plus a reviewed USD 1,600/MT conversion and base-metal cost |
| Source | Calculated by MetalsPlace from live LME prices (formula above) |
| Change since 11 Oct 2026 | +1.59% |
| Unit | USD/MT (US dollars per metric tonne) |
Indicative only, not a contract price. How MetalsPlace sources its prices
The figure on this page is a derived value for 304 stainless mill product, driven mainly by the LME nickel price; 304 and 316 scrap have their own pages. Stainless steel scrap is valued for its nickel, chromium, and molybdenum content and is a critical feedstock for stainless steel mills worldwide.
Compare Stainless Steel prices by country: 🇺🇸 United States, 🇬🇧 United Kingdom, 🇩🇪 Germany, 🇫🇷 France, 🇮🇹 Italy, 🇪🇸 Spain.
Stainless scrap contains significant amounts of nickel, which is one of the most volatile industrial metals. A 10% swing in the LME nickel price can significantly move stainless scrap prices.
Use a magnet: 304 stainless is weakly magnetic or non-magnetic, while 430 ferritic is magnetic. For precise grading, XRF (X-ray fluorescence) analysers are used by scrap dealers.
| Date | Price | Daily Change |
|---|---|---|
| Nov 10, 2026 | 2,783.50 | -0.27% |
| Nov 9, 2026 | 2,790.92 | -0.10% |
| Nov 8, 2026 | 2,793.73 | +0.07% |
| Nov 7, 2026 | 2,791.65 | +0.39% |
| Nov 6, 2026 | 2,780.90 | +0.91% |
| Nov 5, 2026 | 2,755.76 | +1.25% |
| Nov 4, 2026 | 2,721.80 | -0.25% |
| Nov 3, 2026 | 2,728.51 | +0.71% |
| Nov 2, 2026 | 2,709.15 | — |
| Nov 1, 2026 | 2,709.38 | +0.02% |
| Oct 31, 2026 | 2,708.91 | -0.73% |
| Oct 30, 2026 | 2,728.93 | -0.44% |
| Oct 29, 2026 | 2,740.95 | +0.37% |
| Oct 28, 2026 | 2,730.79 | -0.04% |
| Oct 27, 2026 | 2,731.99 | -0.55% |
| Oct 26, 2026 | 2,747.02 | -0.20% |
| Oct 25, 2026 | 2,752.49 | -0.05% |
| Oct 24, 2026 | 2,753.95 | -0.29% |
| Oct 23, 2026 | 2,761.86 | -0.64% |
| Oct 22, 2026 | 2,779.55 | +1.08% |
| Oct 21, 2026 | 2,749.93 | +0.60% |
| Oct 20, 2026 | 2,733.51 | +0.51% |
| Oct 19, 2026 | 2,719.54 | +0.05% |
| Oct 17, 2026 | 2,718.30 | +0.30% |
| Oct 16, 2026 | 2,710.23 | -0.72% |
| Oct 15, 2026 | 2,729.94 | -0.08% |
| Oct 14, 2026 | 2,731.99 | -0.16% |
| Oct 13, 2026 | 2,736.30 | -0.13% |
| Oct 12, 2026 | 2,739.89 | — |
| Oct 11, 2026 | 2,740.04 | — |
Prices are indicative and updated daily. Not for use as binding contract prices.