Despite having “steel” in the name, stainless steel is classified as a non-ferrous metal in the scrap trade because its most common grades — 304 and 316 — are non-magnetic. Stainless steel is a corrosion-resistant alloy containing iron, chromium (at least 10.5%), and nickel. It commands a significant premium over standard carbon steel. Common sources in Auckland include kitchen sinks, commercial kitchen equipment, handrails, medical instruments, exhaust systems, and marine fittings. Grade 316, which contains molybdenum for extra corrosion resistance, is more valuable than 304. At endless metals in Auckland, we test and grade stainless steel on site. Keeping stainless separate from regular steel is critical — mixing them reduces the value of both.