The price of stainless steel scrap is going down
As the price of nickel decreases in metal exchanges, the purchase prices of stainless steel scrap also decrease. From the beginning of 2023 to the end of June, the price of nickel fell by almost 40%. In the first days of 2023, the nickel price was $31.2/kg, on June 28, the nickel price was only $19.85/kg. Since the price of stainless steel scrap largely depends on the price of nickel, the purchase price of stainless steel scrap decreased accordingly. According to the website scraprice.com, the highest price of stainless steel scrap in the last days of June 2023 was in Turkey and reached almost €2/kg. The price of stainless steel scrap was also high in other countries: Denmark, Germany and the United Kingdom.
| # | Buyer | Purchase price | City |
|---|---|---|---|
| 1 |
 |
1.19
$
/lb
|
London ON |
| 2 |
|
1.19
$
/lb
|
Mississauga |
| 3 |
|
1.18
$
/lb
|
Brampton |
| 4 |
|
0.699
$
/lb
|
Saint-Eustache |
| 5 |
|
0.699
$
/lb
|
London ON |
| 6 |
|
0.699
$
/lb
|
Mississauga |
| 7 |
|
0.699
$
/lb
|
Mississauga |
| 8 |
|
0.68
$
/lb
|
London ON |
| 9 |
|
0.67
$
/lb
|
London ON |
| 10 |
|
0.631
$
/lb
|
Brampton |
| 11 |
|
0.6
$
/lb
|
Winnipeg MB |
| 12 |
|
0.55
$
/lb
|
Saint-Hubert, Quebec |
| 13 |
|
0.53
$
/lb
|
London ON |
| 14 |
|
0.499
$
/lb
|
Lachine |
| 15 |
|
0.499
$
/lb
|
Saint-Esprit, Quebec |
| 16 |
|
0.47
$
/lb
|
Montréal |
| 17 |
|
0.45
$
/lb
|
Saint-Eustache |
| 18 |
|
0.4
$
/lb
|
Saskatoon |
| 19 |
|
0.25
$
/lb
|
Saskatoon |
| 20 |
|
0.2
$
/lb
|
London ON |
| 21 |
|
0.11
$
/lb
|
Montréal |
| 22 |
|
0.089
$
/lb
|
Saint-Eustache |
| 23 |
|
0.08
$
/lb
|
Saint-Eustache |
| 24 |
|
|
Bridgewater, Nova Scotia |
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STAINLESS STEEL SCRAP PURCHASING - is financially beneficial. There are plenty of metal buyers in every major city where you can easily sell stainless steel scrap or any other unnecessary items which contain stainless steel. The purchase prices depend on the buyer’s pricing policy, type or quantity and it is also influenced by global metal exchanges. Depending on the supply and demand of nickel, the price of nickel fluctuates, and so are the prices of stainless steel. In the event of changes in stock exchanges, recyclers of this metal react accordingly by adjusting the purchase prices of stainless steel to the buyers.