Updated · 16 May 2026
Scrap Stainless Steel Prices UK
Today's UK scrap stainless steel prices per kg, updated daily. Stainless steel prices track LME nickel because nickel is the key alloying element.
Today’s top grade
TodayStainless Steel · 316 Stainless
£1.10
per kg avg · range £1.00–£1.20 · 3 UK yards
LME spot£13.90/kg · £13904/t
Stainless Steel Scrap Prices by Grade
UK yard average · per kg
All stainless steel grades we track. Click through for regional yard prices and grade-specific calculator.
316 Stainless
304 Stainless
Mixed Stainless
Updated 2026-05-16 · Based on data from up to 8 UK scrap yards
Stainless Steel Scrap Calculator
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Indicative estimate. Actual yard prices vary by region, volume, and metal condition. Always confirm with your local scrap yard before driving.
Stainless Steel Price Per Kg
Stainless steel price per kg in the UK is currently in the £0.70–£1.30 range for scrap, depending on grade. 316 marine grade is the most valuable because of its molybdenum content. 304 (18/8) is the most common and slightly lower. Mixed stainless turnings sit at the bottom because of sorting and contamination risk.
Cost of Stainless Steel Per Kg
The cost of stainless steel per kg at UK scrap yards reflects the LME nickel benchmark, because nickel is the key alloying element in stainless (8% in 304, 10% in 316). When LME nickel rises, stainless scrap prices follow within a day or two. Stainless typically trades at 2–6% of LME nickel spot — the percentage depends on the grade and the nickel content.
Understanding Stainless Steel Grades
316 stainless (marine grade, contains molybdenum) commands the highest price. 304 stainless (18/8, the most common grade) is slightly lower. The key differentiator is nickel content, which is why stainless tracks LME nickel — see our nickel prices page for the underlying benchmark.
Use a magnet to test. Austenitic stainless (304, 316) is non-magnetic or very weakly magnetic. If a magnet sticks strongly, it is likely ferritic stainless or chrome steel, which is worth less.
Frequently Asked Questions
How much is stainless steel worth per kg in the UK?
Stainless steel scrap is worth roughly £0.70–£1.30 per kg in the UK. 316 (marine grade) commands the highest price. 304 (the most common, 18/8) is slightly lower. Mixed stainless turnings sit at the bottom because of sorting and contamination risk. Prices move with LME nickel.
How can I tell 304 from 316 stainless steel?
Both are non-magnetic austenitic stainless and look identical, but 316 has 2% molybdenum that gives it superior corrosion resistance against chlorides and acids. Without lab testing, you can guess by source: marine, chemical, and food-grade equipment is more likely 316; kitchen sinks and general fittings are usually 304. Yards use XRF testing to confirm.
Is stainless steel magnetic?
Most stainless used in domestic settings (304, 316) is non-magnetic or very weakly magnetic — austenitic grades. If a magnet sticks strongly, you likely have ferritic stainless or chrome steel, which is worth significantly less. Cold-worked 304 can become slightly magnetic after heavy bending or pressing.
Why does stainless steel price track LME nickel?
Nickel is the key alloying element in austenitic stainless (8% in 304, 10–14% in 316). When LME nickel rises, the cost of producing new stainless rises, and scrap stainless prices follow. Stainless typically trades at 2–6% of LME nickel spot — the percentage depends on grade and nickel content.