Import Curbs Relaxed Till December 31; 200-Series Stainless Steel Demand Stays Strong

SS (Stainless Steel) Market Prices

Nickel prices stood at $15,250/ton, while Copper was priced at $10,891/MT.
The INR opened at 88.79 against the USD.

• The current retail price for 304 CR wider 2B is approximately ₹200–205/kg (basic), and HR around ₹194–197/kg (ex-Delhi). Narrow coils are about ₹8–10/kg cheaper, plus GST.
• SS 316L HR (imported) material is being retailed around ₹350/kg for HR wider, while Indian material is ₹5/kg costlier.
• For CR wider, rates are about ₹5/kg higher than HR.
• SS 201 imported CR 2B (extra low thickness ~0.26mm) is being retailed at ₹166–169/kg (ex-Delhi), plus GST.
• Domestic 201 (the most economical grade) is now available in the range of ₹142–146/kg (base price), plus thickness difference and GST.
• For 1500 mm width, add ₹4/kg extra from the above rates for No.4 finish in the 300 series.

Scrap Purchase Prices by Indian Flat Stainless Steel Producers (plus GST)

• 304: ₹1,27,886/MT
• 316L: ₹2,25,065/MT
• J5 Patta: ₹72,000/MT
• J8 Patta: ₹70,000/MT
• 430: ₹56,317/MT

Demand and Supply Overview

• 300 series: Demand remains weak, though some material shortages persist.
• 400 series: Demand continues to strengthen.
• 200 series: Demand has increased sharply, supported by limited imported supply.
• No.4 PVC finish material: Demand remains firm across both 200 and 300 series, consistent with recent trends.

Market news: Import Curbs on Stainless Steel Relaxed Till December 31

• The Indian government has relaxed import restrictions on stainless steel, allowing the sale of certain products made from non-BIS-compliant steel till December 31, 2025, citing limited domestic production.
• Officials stated that importers had already made advance payments for future orders, and enforcing immediate compliance would disrupt production.
• However, domestic stainless steel manufacturers have raised concerns that such exemptions erode market share and hamper capital recovery. “The government needs a consistent policy. Frequent exemptions allow substandard steel to enter the market, undermining domestic investment,” said a participant in a recent steel ministry meeting.
• Industry representatives also noted that even after the December 31 deadline, sufficient imports could sustain the market till mid-2026.
• The Indian Stainless Steel Development Association (ISSDA) has urged the government to extend quality control orders to prevent Chinese dumping and substandard imports. “Imports should be allowed only when domestic substitutes are unavailable,” said ISSDA President Rajamani Krishnamurti.

Market Outlook: Stability in 300 Series, Strength in 200 & 400 Grades

• 300 series: Prices expected to remain stable.
• 400 series: Likely to stay firm and on a steeper side.
• 200 series: Expected to perform strongly in the domestic market.