Stainless steel scrap price in Ontario today
What Ontario scrap yards are paying per pound for stainless steel today, by grade, in Canadian dollars. Checked October 28, 2026; updated every weekday morning.
Stainless steel 304, typical Ontario yard price
$0.65/lb
Range $0.57 – $0.73/lb · Canadian dollars
Stainless steel prices by grade
| Grade | Typical price | Range | Since yesterday |
|---|---|---|---|
| Stainless steel 304 Sinks, counters, food equipment. Non-magnetic. | $0.65/lb | $0.57 – $0.73 | no change |
| Stainless steel 316 Marine and chemical grade. Check the stamp. | $1.40/lb | $1.23 – $1.57 | −$0.01 |
Stainless is priced on its nickel content, which is why it pays far more than ordinary steel but far less than copper. 304 is the common grade in sinks, counters and food equipment; 316 has more nickel and molybdenum and pays about double.
Where the number comes from
These are estimates, not quotes. We take the London Metal Exchange cash price for nickel (2026-10-27: US$15,440 per tonne), convert it at the Bank of Canada rate (1.4038 CAD per USD), and apply the share of that price Ontario yards typically pay for each grade. The shares were set against what GTA, Hamilton and London yards were posting in October 2026 and are listed on the about page.
Your yard may pay more or less. Big, clean, sorted loads and regular sellers get the top of the range; small or dirty loads get the bottom. Call two yards before a big trip.
Questions people ask
How do I tell stainless from regular steel?
A magnet barely sticks or doesn't stick to 304 and 316 stainless. If it grabs hard, it's steel or 400-series stainless, which pays close to steel prices.
Is my sink 304 or 316?
Almost all kitchen sinks and appliances are 304. 316 shows up in marine fittings, chemical and food-processing plant and some medical equipment. If it's stamped, the number is on it.
Why does the price move so much?
Nickel is a volatile metal on the exchange. A 10% move in nickel shows up almost directly in the stainless price.
Other metals
- Copper $7.82/lb
- Aluminum $1.67/lb
- Brass $5.18/lb
- Steel and iron $330/tonne
- Car batteries and lead $0.34/lb