Stainless Steel 304
304 is the default, general-purpose stainless grade, and it shows up in far more places than most people realise. It's also more often misidentified than you'd expect, the magnet test everyone relies on isn't quite as simple as it sounds. Here's what actually counts, how to check it properly, and how to sell it for what it's worth.
Benches, sinks, splashbacks, and food-prep equipment from restaurants, cafes, and commercial kitchens, one of the single biggest sources of 304 scrap.
Interior tubs, panels, and trim on dishwashers, ovens, and fridges, alongside the light iron casing that surrounds them.
Handrails, brackets, and general architectural or industrial fabrication work, wherever a general-purpose stainless was the practical choice.
Domestic and commercial bathroom and laundry fittings, another everyday, recognisable source of clean 304 material.
304, sometimes called 18/8 for its roughly 18% chromium and 8% nickel content, is the most common stainless composition in everyday use. That's exactly why it's the default choice whenever a manufacturer or fabricator needs general corrosion resistance and doesn't have a specific reason to reach for a more specialised, more expensive alloy like 316.
The common wisdom, stainless doesn't stick to a magnet, is broadly true for 304 in its normal state, but it's not a perfect rule. 304 is an austenitic grade, which is largely non-magnetic when it hasn't been mechanically worked. Cold forming, bending, rolling, or heavy machining can actually induce a slight magnetic response in the worked areas, without changing what the underlying alloy actually is.
In practice, that means a piece showing a weak magnetic pull at a bent edge or a welded seam isn't automatically disqualified from being genuine 304. Weight (stainless is noticeably heavier than aluminium for a similar size), a bright, consistent silver finish, and the absence of rust are all useful supporting checks alongside the magnet test, rather than relying on the magnet alone. If you're still unsure after checking all three, describing the piece honestly and letting a buyer make the final call is a perfectly reasonable approach, better than guessing confidently in either direction.
ScrapTrade's live-priced Stainless Steel 304 category covers 18/8 grade stainless in mixed form, kitchen equipment, general fabrication, appliance components, and similar. If you suspect what you have is actually a higher-spec marine or chemical-grade alloy, check our 316 guide before listing, describing it accurately gets a more confident offer either way.
Check today's 304 stainless price304 tracks hospitality, food service, and general fabrication activity more than any single regional industry. Melbourne and Sydney both carry the country's largest concentrations of commercial kitchens, hospitality venues, and general manufacturing activity, generating a steady, genuine stream of this material as equipment gets replaced or fit-outs get renovated.
Neither city is a requirement. Commercial kitchen fitters, appliance technicians, and fabricators generate 304 scrap anywhere in Australia, and ScrapTrade connects buyers and sellers nationally regardless of where a listing is posted from.
The chromium and nickel content that makes 304 corrosion-resistant is exactly what makes it worth meaningfully more than ordinary steel, both elements are genuinely valuable on their own, not just as ingredients in an alloy. Stainless also recycles without losing its properties, refined 304 scrap goes straight back into producing new 304-grade material, which keeps demand consistent regardless of what's happening in the broader steel market. Nickel in particular is a genuinely internationally-traded commodity in its own right, and its price swings can move stainless scrap values more than general steel market conditions do, worth checking a live reference price close to when you actually plan to sell rather than relying on a figure from weeks earlier.
Stainless is exactly the kind of material that gets lumped into generic mixed metal by a buyer who doesn't bother checking whether it's genuine 304 or something lower-value. On ScrapTrade, you check a live reference price first, then list at a fixed price, run it as a live auction so verified buyers compete for it, or negotiate directly, negotiation is on by default on every listing. Every listing is GPS-video verified before it goes live, and payment sits in escrow from the moment a deal is confirmed until pickup or delivery is done, so neither side is exposed first. The full case for why that beats a single yard quote is on Why Choose ScrapTrade and Trust & Safety.
Roughly 18% chromium and 8% nickel, the two alloying elements that give 304 its corrosion resistance and general-purpose strength. It's the most common stainless composition in everyday use, which is exactly why 304 shows up in so many different products.
Mostly, but not perfectly. 304 is austenitic stainless, which is largely non-magnetic in its normal, annealed state. Cold-working, bending, rolling, or heavy forming, can induce slight magnetism into the surface, so a piece that's been through significant mechanical work might show a weak magnetic response despite genuinely being 304. Weight and appearance alongside the magnet test give a more reliable read than the magnet alone.
Visually, you often can't tell the difference reliably. If you know the source, kitchen equipment and general fabrication are usually 304, marine and coastal fittings are more likely 316, that's a reasonable starting guess. For genuine certainty, a chemical spot test or checking for a mill certificate or stamped grade marking is the only sure method. Our 316 guide covers this from the other direction if you suspect that's what you have.
Rarely an issue, stainless is prized specifically because it doesn't need painting or coating for corrosion resistance, so genuinely coated stainless is uncommon. If it does have a coating or heavy contamination, note that honestly in your listing rather than assuming it grades the same as clean, uncoated material would.
Yes, always. Stainless is worth substantially more than mild or HMS-grade steel, and mixing the two means the whole lot prices toward the lower-value material. A quick magnet-and-weight check on anything you're unsure about is worth the few seconds it takes.
Nickel content is the main reason. Nickel trades as its own internationally-watched commodity, and its price swings independently of general steel market conditions, which flows directly into stainless pricing. Checking a live reference price close to when you actually plan to sell matters more here than for plain steel.
Not usually the grade itself, but it's worth cleaning if practical, since it affects how confidently a buyer can assess the piece at a glance. Genuine stainless resists corrosion well, so heavy staining or pitting is worth mentioning honestly, it can occasionally signal a lower grade or contamination rather than genuine 304 underneath.
Check a live price, then sell at a fixed price, run an auction, or negotiate directly.
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