Indian Stainless Steel Trends: 300 Series Stable, 200 Series Firm

Stainless Steel Prices

• Nickel: $15,405/ton
• Copper: $9,906/MT
• INR opened at 88.12 against USD
• 304 CR wider 2B: ~₹193–198/kg (basic price, ex-Delhi)
• 304 CR narrow: ~₹8–10/kg cheaper than wider
• 316L HR imported (wider): ~₹340/kg; Indian material costs ₹5/kg more
• 316L CR wider: ~₹5/kg higher than HR
• 201 imported CR 2B (extra-low thickness, 0.26 mm): ~₹163–165/kg (ex-Delhi)
• 201 domestic CR (cheapest grade): ~₹138–142/kg (base price; thickness difference extra)
• 1500 width, N4 finish (300 series): +₹4/kg on above rates

Scrap Purchase Prices (ex-producer, 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 & Supply

• 300 series demand remains weak, though shortages are observed in some grades.
• 400 series demand is rising.
• 200 series demand is upbeat due to limited imports.
• No.4 PVC finish demand continues to rise across both 200 and 300 series, a trend consistent in recent months.

Market News

• Jindal Stainless and Whiteland Corporation set a benchmark with branded homes reinforced by stainless steel rebars.

• Nickel prices on the LME showed a slight uptrend. The three-month LME nickel price was recorded at $15,380/t, 3% up from last week's $15,000/t. Nickel stocks in LME-registered warehouses remained stable at 209,676 t against the previous week's 209,598 t.

Market Opinion

• 300 series prices are expected to remain stable.
• 400 series prices are likely to stay firm.
• 200 series is expected to perform strongly in the domestic market.