Jindal Stainless Expands Fabrication Capacity Amid Mixed Demand Trends in Stainless Steel Market
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Stainless steel HRC and CRC prices remained steady across Delhi, Mumbai, and Kanpur, supported by firm realizations despite minor volume drops. Jindal Stainless expanded fabrication capacity in Mumbai, signaling confidence in infrastructure-led demand growth. Shyam Metalics reported lower sales but higher realizations, indicating stable pricing strength amid short-term supply pressure.
Key Highlights
- SS 316L HRC prices stable at ₹3.44–3.54 lakh/MT across key cities.
- SS 304 CRC wide coil prices range ₹1.98–2.01 lakh/MT; narrow coil lower.
- Jindal Stainless opens Mumbai fabrication unit to meet infra demand.
- Shyam Metalics sales fell 11.4% YoY, but realizations rose 8–9%.
Regional Stainless Steel Price Snapshot – HRC & CRC Trends
- In Delhi, SS HRC (316L ≥3mm) was quoted at ₹3,54,000/MT, while SS CRC prices stood at ₹2,01,000/MT for 304 Wide, ₹1,92,000/MT for 304 Narrow, and ₹3,58,000/MT for 316L grades.
- In Mumbai, SS HRC (316L ≥3mm) was assessed slightly lower at ₹3,50,000/MT. SS CRC prices were reported at ₹1,98,000/MT for 304 Wide, ₹1,87,000/MT for 304 Narrow, and ₹3,51,000/MT for 316L grades.
- Meanwhile, in Kanpur, SS HRC (316L ≥3mm) was priced at ₹3,44,000/MT, reflecting a marginal discount compared to other regions.
Fabrication Expansion Signals Strong Infrastructure Demand
- Jindal Stainless launched its first stainless steel fabrication unit in Mumbai, signaling growing demand in infrastructure, especially for bridges. The Mumbai unit will scale from 4,000 MT in FY25 to 18,000 MT annually by FY26-27, indicating expected demand growth.
- Shyam Metalics’ stainless steel sales fell 11.44% YoY in September 2025, with a 22.80% MoM drop, suggesting short-term supply-demand pressure or weaker off-take. Realizations (prices) increased 8–9% YoY/MoM, showing sustained pricing power despite volume drops.
- Jindal Stainless strengthens vertical integration with direct fabrication capability in Mumbai, serving bridge and infrastructure sectors. The facility is expected to create 250+ direct jobs and over 150 indirect beneficiaries, enhancing workforce skill development.
- Stainless steel continues to be supplied for landmark infrastructure projects nationwide, emphasizing its durability and long lifecycle (>100 years).
- Shyam Metalics’ quarterly volumes increased 24.77%, although realizations declined 5.41%, hinting at possible market stabilization or seasonal trends.
Market Outlook: Stable Prices, Gradual Demand Recovery Expected
Short-term volume dips may indicate temporary demand-supply imbalances, but rising realizations show resilience in pricing. Overall, the market outlook remains positive, driven by government-backed infrastructure expansion and integrated fabrication solutions.
SS Cold Rolled Coils
SS Hot Rolled Coils
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