Stainless steel 316 scrap price in Ontario
Marine and chemical grade. Check the stamp.
Typical Ontario yard price, checked October 27, 2026
$1.41/lb
Range $1.24 – $1.58/lb · +$0.01 since last week
What counts as stainless steel 316
Marine and chemical grade. Check the stamp. Found in marine fittings, chemical plant and some medical equipment. Pays more than 304 because of the molybdenum and higher nickel.
How the price is set
This grade tracks the London Metal Exchange price for nickel (2026-10-26), converted at the Bank of Canada rate of 1.4038 CAD per USD. Ontario yards typically pay about 110% of the exchange price for it; the rest covers sorting, freight and the yard's margin.
Other grades
| Stainless steel 304 | $0.65/lb |