I'd like to stock up on some cheap imported ammo, and want something that's allowable at all the local ranges.  Steel cases are okay local indoor ranges, but magnetic bullets are verboten.  

M67 is great ammo, but it is corrosive. Not a problem as long as you clean after shooting.

ETA: Geco also makes an affordable brass cased option, but accuracy reviews have been mixed. If you are shooting at short range (indoor) then accuracy probably isn't a big deal.

Yugo M67, for more reasons than non-magnetic, but it is that as well. RAS has offerings at times with copper jackets and steel casings, but that is at the mercy  of who is testing it.
YMMV

Are you certain this is non-magnetic?  Do some of the lead core bullets have a copper/steel jacket?



SGAmmo has this listed as magnetic.  

http://www.sgammo.com/product/red-army/180-round-brick-762x39-122-grain-fmj-russian-made-red-army-standard-ammo-am2031





 

RAS is offered in a variety of configurations. You need to find the SKU for the copper-jacketed variety and search for it that way, as noted above.

While not cheap the Hornady steel cased SST is out there in 50 round boxes

Thanks, but that is around 50c delivered. 


Still looking for some cheap non-magnetic ammo!

Youre. not going to get much cheaper than that or M67.

Finally found a deal on non-magnetic ammo! 

Edited to the correct source. 

Geco 7.62x39mm - 36c per round.  This is brass cased, reloadable, non-corrosive, non-magnetic.
This is not extremely accurate.  But if you're shooting an AK, extreme accuracy can't be extremely important. 
http://www.tkqlhce.com/click-6159032-11079827?sid=j0l8l7gckt00zk8a012b1&url=http%3A%2F%2Fwww.sportsmansguide.com%2Fproduct%2Findex%2Fgeco-762x39mm-fmj-124-grain-1000-rounds%3Fa%3D1848975

If you haven't already ordered, you may want to reconsider this. It doesn't say much about the bullet jacket, BUT the description says ZINK PLATED STEEL for the casing. That only means something if the bullet jacket is bimetal.

M67 (Yugo) is about your only bet on the cheap...

I can sometimes get PRVI or Fiocchi for +$0.50 per round.

Heck, you're right! 

I was thinking of this stuff.  The box looks the same. 
http://www.tkqlhce.com/click-6159032-11079827?sid=j0l8jsw9yr00zk8a012b1&url=http%3A%2F%2Fwww.sportsmansguide.com%2Fproduct%2Findex%2Fgeco-762x39mm-fmj-124-grain-1000-rounds%3Fa%3D1848975

I saw that Geco back in stock.  Did people figure out what the specific issue was with that ammo that caused some people to have really lousy accuracy?  I've never been disappointed with anything I bought that was Geco but I know some had issues with that ammo on this forum but I don't see any explanation as to why other than maybe some barrels just didn't like it.  If that's the case I have plenty of 7.62x39 barrels to try it in

Yup, and that's the only steel cased/copper slug option out there.

I buy Privi when I can find it for 50 cents/round, not cheap but a VERY accurate round for the money. Swiss made Geco 9mm ammo is VERY good stuff, German made 9mm is good but Hungarian is just OK. And I think all the Geco 7.62x39 is Hungarian.

If anyone makes a non-magnetic round for less than 50 cents/rnd, I've not seen it. That's why I'm still sitting on a couple cases of surplus Yugo, even when it jumped up to 25 cents/round it was still by far the cheapest 'no steel' ammo. Most places that sell surplus Yugo only do it by the case, although occasionally SGAmmo will split it up into 200 round lots.

I may not be remembering this right, but a few years ago SGAmmo had some steel cased surplus corrosive Yugo that I thought had copper slugs. It was only one shipment and I've never seen any again. Also, it was the same cost as the easily found brass cased Yugo at the time.

Personally, I wish Wolf would stamp out some 'Gold' 7.62x39 like their .223. Even coming in at 40 cents/rnd vs 30 cents for .223 Gold would be a seller.

I'm not sure if the Red Army ammo I shoot is "magnetic', but it's accurate, clean, feeds great....and I shoot steel plates at 75 and 100 yards with no dimples.  It's easier on it than FMJ 5.56.  If the Red Army stuff is magnetic, it's still soft enough to trust on steel plates.

The Red Army Standard "Elite" line is non-magnetic, brass, non-corrosive -- best price I'll found lately is $.47/round in a case of 5 180-round range packs, plus shipping.

That seems expensive, unless you're paying that with the idea of getting brass to reload afterwards?  I'm buying 900 round cases of Red Army 122 gr fmj for $229.  Steel case, but I dont plan on reloading any 7.62X39 unless a democrat gets in the White house again.