India Stainless Steel Market: 200 & 400 Series Outperform Amid Mixed Demand

15 Jul 20252 Min ReadDaily Market Report

India’s stainless steel market shows mixed trends across series. While 300 series demand is soft, 200 and 400 series remain strong due to limited imports and rising application. Scrap buying remains active. ISSDA reports 8% annual growth in consumption, projecting long-term strength led by green energy and infrastructure sectors.

Key Highlights

200 series demand is upbeat amid low import availability
300 series sees weak demand but steady prices
400 series shows increasing demand in key sectors
ISSDA reports 8% stainless steel consumption growth in FY25

Price Update: Stainless Steel Product & Scrap Rates

Nickel Prices at $15010/ton, while Copper prices at $9622/ton.

INR opened today against USD at 85.80/-

Current retail price for 304 CR wider 2B is now running approximately at Rs.189-194/kg basic price range, ex-Delhi, while for narrow, it is approximately Rs.8-10/kg cheaper. Plus GST.SS 316L HR imported material is now being retailed in the price range of Rs.334/kg for HR wider. Indian material is expensive by Rs.5/kg. For CR wider, the rates are Rs.5/kg higher than HR.SS 201 imported CR 2B (extra low thicknesses like 0.26mm) is being retailed at Rs. 163-165/kg, ex-Delhi, plus GST. Domestic 201 (cheapest grade) is now being retailed in the price range of Rs.138-142/- base price (plus thickness difference extra), plus GST.

In case of 1500 width extra Rs 4/kg from above rates for N4 finish in 300 series

Indian flat stainless steel producers are buying scrap after the service of the finished-goods at the following latest prices (plus GST):-

304: Rs.1,27,886/- per MT

316L: Rs.2,25,065/- per MT

J5 Patta: Rs.72,000/- per MT

J8 Patta: Rs.70,000/- per MT

430: Rs.56,317/- per MT

Demand and Supply:Mixed Demand Trends Across Grades

-Demand is down in 300 series but in some cases material shortage is also there

* In 400 series also, demand is seen to be increasing

* 200 series demand has further increased and is upbeat, due to paucity of imported material

* No.4 PVC material demand is still on the rise, both in 200 and 300 series, as has been observed in the past few months, as expected

Market News: India’s Stainless Steel Use Up by 8%

According to the Indian Stainless Steel Development Association (ISSDA), India's stainless steel consumption reached 4.85 million tons in the fiscal year 2024-25, a year-on-year increase of 8%. The association said the country's stainless steel market remains strong and is one of the fastest-growing globally, despite various challenges.

Rajamani Krishnamurti, President of ISSDA, stated that the current production capacity is 7.5 million tons, with 60% utilization. He said there is substantial production growth potential with supportive policies and continued demand.

ISSDA forecasts stainless steel consumption to climb to 12.5-12.7 million tons by the fiscal year 2040 and 19-20 million tons by the fiscal year 2047, driven by expanding uses in sectors such as green energy, water storage, defense, and aerospace.