Actually 304 stainless is also called 18/8. This means that it is ALWAYS 18% chrome and 8% nickel, not 11% nickel like CTscrapman said. 11% nickel is 316 SS, which today is trading at around $1.15. 301 is 6-7% nickel and 17% chrome, and is usually only a few cents under the 304 price. If you are getting steel prices for 301 you are getting hosed.