There are six main types of stainless steel scrap; 18-8, 304, 316, 409, 410 and 430. There are several other varieties but they roughly all fall into the same brackets. The 300 series accounts for 70 per cent of all stainless steel produced.
Current rates for stainless steel scrap are ever rising. In the US currently it’s 1 dollar 73 cents, but in areas of demand this rises to $2 or $3. This means $3460, $4000 or even $6000 per tonne.
In the UK the value of scrap steel is up 550 per cent since 2002. It is on average around 58p per lb, which works out at around £1300 for a tonne. Like the US there are variances depending on demand. In places it can reach £1500 to £1600 per tonne, which equates to 66-71p per lb.
Current rates for stainless steel scrap are ever rising. In the US currently it’s 1 dollar 73 cents, but in areas of demand this rises to $2 or $3. This means $3460, $4000 or even $6000 per tonne.
In the UK the value of scrap steel is up 550 per cent since 2002. It is on average around 58p per lb, which works out at around £1300 for a tonne. Like the US there are variances depending on demand. In places it can reach £1500 to £1600 per tonne, which equates to 66-71p per lb.
