Scrap stainless steel prices going up because price of nickel is rising
With the start of 2022, the price of nickel began to rise. According to metal stock exchange prices, the price of nickel was about $ 21,000 per tonne at the beginning of the month, and as of January 17, 2022, the price had risen to as much as $ 22,800 per tonne. It can be said that the price of nickel increased by about 8-9% during this period. After the price of nickel rose, the purchase price of stainless steel scrap increased accordingly. This is because the prices of stainless steel scrap depend largely on the price of nickel. 
Stainless steel scrap prices are rising
| # | Buyer | Purchase price | City |
|---|---|---|---|
| 1 |  |
0.943
€
/lb
|
Gilberts, Illinois |
| 2 | |
0.632
€
/lb
|
Utah, Salt Lake City |
| 3 | |
0.613
€
/lb
|
New York, Binghamton |
| 4 | |
0.519
€
/lb
|
New Jersey, Middlesex |
| 5 | |
0.472
€
/lb
|
Minnesota, Inver Grove Heights |
| 6 | |
0.453
€
/lb
|
Wisconsin, Fond du Lac |
| 7 | |
0.425
€
/lb
|
Florida, Miami |
| 8 | |
0.377
€
/lb
|
Michigan, Detroit |
| 9 | |
0.349
€
/lb
|
Chase, Michigan |
| 10 | |
0.33
€
/lb
|
New Jersey, Middlesex |
| 11 | |
0.33
€
/lb
|
Illinois, Chicago Heights |
| 12 | |
0.292
€
/lb
|
Kansas, Independence |
| 13 | |
0.283
€
/lb
|
Indiana, Bloomington |
| 14 | |
0.283
€
/lb
|
Utah, Salt Lake City |
| 15 | |
0.283
€
/lb
|
Indiana, Evansville |
| 16 | |
0.283
€
/lb
|
New York, Binghamton |
| 17 | |
0.283
€
/lb
|
Massachusetts, Middleborough |
| 18 | |
0.264
€
/lb
|
New York, Buffalo |
| 19 | |
0.236
€
/lb
|
Florida, Miami |
| 20 | |
0.189
€
/lb
|
Minnesota, Inver Grove Heights |
| 21 | |
0.189
€
/lb
|
California, Los Angeles |
| 22 | |
0.113
€
/lb
|
Utah, Salt Lake City |
| 23 | |
|
Virginia, Virginia Beach |
| 24 | |
|
Kansas, Topeka |
| 25 | |
|
Maryland, Rockville |
| 26 | |
|
California, Los Angeles |
| 27 | |
|
Minnesota, Saint Paul |
| 28 | |
|
Minnesota, Saint Paul |
| 29 | |
|
Minnesota, Saint Paul |
| 30 | |
|
Minnesota, Saint Paul |
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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.