Stainless Steel 304 Price Trends & Forecast | Monthly, Quarterly, Yearly Data (2024–2025)
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Introduction
Tracking the stainless steel 304 price is very critical for manufacturers, traders, and procurement heads across industries like construction, automotive, and fabrication.
The price of Stainless Steel 304 is influenced by factors like nickel and chromium raw material costs, demand-supply fluctuations, and geopolitical changes impacting global logistics. This report provides historical pricing data and expert forecasts from 2024 through 2025 to help businesses make well-informed sourcing and budgeting decisions.
Key Highlights
- Current Price (Latest Update): Rs. 182/kg
- Price Change (Last Quarter): +7.7%
- Forecast for Next Quarter: Expected to rise by 2–4% due to elevated nickel prices and high USD exchange rate
Historical Price Trends
Stainless Steel 304 Price Chart (Historical Data)
| Month | Price (Rs./kg) | Change (%) | Remarks |
| Apr 2025 | 182 | −2.93% | Increased imports due to U.S. tariffs |
| Mar 2025 | 187.5 | +2.46% | Anticipation of protective tariffs and supply chain adjustments |
| Feb 2025 | 183 | +3.98% | Market recovery post-New Year and stable nickel prices |
| Jan 2025 | 176 | 0.00% | Typical post-holiday slowdown and challenges because of extended credit cycles |
| Dec 2024 | 176 | 0.00% | Weak downstream demand and stable scrap prices |
Price Forecast
Stainless Steel 304 Price Forecast for 2025
- Q2 2025 Forecast: Stable to slightly rising prices is expected in this quarter. This may be driven by strong domestic construction demand and higher nickel spot prices.
- Q3 2025 Forecast: Monsoon season may cause slight softening in demand. Price correction is expected from import surges, but demand could limit the downside. U.S. tariffs on steel and aluminium have caused surplus supply from China, South Korea, and Japan to redirect into India. This is expected to cause a price correction of nearly Rs 3,000/ton, especially from Q3 onward.
- Q4 2025 Forecast: Prices may remain volatile in this quarter. Further softening is likely, though sustained infrastructure growth may stabilize prices. Festive season and export orders may also increase prices.
- 2025 Outlook: Increased global production capacity and improved supply chains may keep SS 304 price relatively stable throughout 2025. But buyers should also monitor nickel prices and global policy changes. For bulk buyers or project procurement teams, locking prices early might reduce risk.
- Despite price volatility, demand is projected to grow at 9% CAGR through FY25, driven by railway modernization, auto sector growth, and government infrastructure push. This demand could provide some safety against big price falls.
Regional Price Trends
Stainless Steel 304 Price in Delhi, Mumbai, Kanpur (2025)
| Region | Price (Rs./kg) | Trend (Last Quarter) |
| Delhi | Rs. 182 | Rising |
| Mumbai | Rs. 178 | Rising |
| Kanpur | Rs. 180 | Rising |
Factors Influencing Price
Key Drivers Affecting Stainless Steel 304 Prices
- Raw Material Costs: Prices of nickel, chromium, and iron scrap directly affect 304 steel price quite often.
- Demand-Supply Gap: Export demand, infrastructure projects, and manufacturing growth put upward pressure.
- Government Policies & Tariffs: Import duties, export incentives, and BIS certifications affect cost structures.
- Energy Prices & Freight Costs: Fuel and shipping rate fluctuations influence the landed cost of imported coils.
- Seasonality: Post-monsoon and year-end spikes due to bulk procurement from construction and OEMs.
Conclusion
The stainless 304 price has shown moderate but steady growth in 2024, with positive momentum expected to continue in 2025. Regional markets are showing resilience, and raw material costs will remain the biggest driver of pricing.
For accurate updates and predictive analytics on SS 304 price, you can check out Nexizo.
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