Scrap Nickel Prices — Pure Nickel & Nickel Alloys

Nickel is a critical industrial metal valued for its corrosion resistance, high-temperature strength, and ability to alloy with other metals. Approximately 65% of all nickel produced goes into stainless steel manufacturing, with the remainder used in superalloys (aerospace), batteries (lithium-ion), electroplating, and specialty chemicals. The LME nickel price currently trades around $7–$9 per pound, making nickel-bearing scrap highly valuable.

Types of Nickel Scrap We Buy

Pure nickel (Nickel 200 and 201) is used in chemical processing, electronics, and as plating anodes. It commands the highest price among nickel scrap categories. Cupro-nickel alloys (copper-nickel) are widely used in marine applications — condensers, seawater piping, and desalination equipment. The 70/30 alloy (70% copper, 30% nickel) is more valuable than 90/10 due to its higher nickel content. Nickel silver (actually containing no silver — it is copper, nickel, and zinc) is used in springs, electrical connectors, and musical instrument keys.

Nickel in Stainless Steel

The most common source of nickel in scrap is stainless steel. Grade 304 stainless contains 8–10% nickel, while 316 stainless contains 10–14% nickel. The nickel content is what makes austenitic stainless steel non-magnetic and corrosion-resistant. When stainless steel prices rise, it is often because the underlying nickel price has increased. We buy all grades of nickel-bearing stainless steel and pay premiums for high-nickel grades.

Identifying Nickel Content

Pure nickel is slightly magnetic (unlike most non-ferrous metals), silvery-white in color, and very corrosion-resistant. It will not rust or tarnish. Cupro-nickel looks similar to stainless steel but is non-magnetic. A handheld XRF analyzer is the most reliable way to determine exact nickel content in unknown alloys. For large lots of potential nickel-bearing scrap, we offer free alloy identification services using our portable XRF equipment.

Market Drivers for Nickel Prices

Nickel prices are driven by stainless steel production (primarily in China), electric vehicle battery demand (nickel is a key component in NMC lithium-ion batteries), and supply constraints from major producers in Indonesia, Philippines, and Russia. The growing EV market has created additional demand pressure on nickel supplies, supporting higher prices for nickel-bearing scrap.