Nickel, Copper Hold Firm; Stainless Steel Mixed as JSL Hikes Prices

Key Highlights

• Nickel at $14,915/ton; Copper at $9,714.5/MT
• Retail stainless steel prices steady; 304 CR wider at ₹193–198/kg
• Demand down in the 300 series but upbeat in the 200 and 400 series
• JSL hikes 304 by ₹5/kg and 316L by ₹12/kg (Aug 20, 2025)

Nickel and Copper Prices Hold Firm; INR Opens at 87.44/USD

• Nickel is priced at $14,915/ton, while copper stands at $9,714.5/MT.
• INR opened today against USD at 87.44.

Stainless Steel Retail Prices Hold Firm Across Grades

• The current retail price for 304 CR wider 2B is approximately ₹193–198/kg basic price range, ex-Delhi, while the narrow variant is cheaper by about ₹8–10/kg, plus GST. 
• SS 316L HR imported material is now being retailed at around ₹335/kg for HR wider.
• Indian material is costlier by ₹5/kg. For CR wider, the rates are ₹5/kg higher than HR. SS 201 imported CR 2B (extra-low thicknesses like 0.26 mm) is being retailed at ₹163–165/kg, ex-Delhi, plus GST. 
• Domestic 201 (the cheapest grade) is now being retailed in the range of ₹138–142 base price (plus thickness difference extra), plus GST.
• For 1500 width, add ₹4/kg to the above rates for N4 finish in the 300 series.

Scrap Prices (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

Mixed Demand Trend: Weak 300 Series, Strong 200 and 400 Series

• Demand is weak in the 300 series, though some material shortages are noted.
• Demand in the 400 series is increasing.
• The 200 series is upbeat due to a shortage of imported material.
• No.4 PVC material demand continues to rise in both the 200 and 300 series, consistent with recent months.

Stainless Steel Market News

• JSL Price Hike Adds Upward Pressure on the Stainless Steel Market — JSL increased prices by ₹5/kg for 304 and ₹12/kg for 316L on 20th August 2025.
• NIPPON KINZOKU CO., LTD. (Headquarters: Minato-ku, Tokyo) has launched a new addition to its Eco-Product series—the STA (Special Tension Annealed) Finish stainless steel. 
• This product is designed to deliver higher precision in etching applications, making it particularly valuable for industries such as electronics and smartphones. The innovation also emphasizes sustainability and design flexibility.
• South Korea’s imports of stainless steel finished flats declined by 29% month-on-month in July 2025. At the same time, Indonesian hot-rolled coil (HRC) exports recorded a steep 90.4% drop to just 1,268 tons, while China’s cold-rolled coil (CRC) exports surged significantly on a month-to-month basis. These shifts highlight dynamic changes in regional steel trade flows.

Expert Opinion

• 300 series prices are expected to remain stable.
• 400 series prices are expected to stay on the steeper side.
• The 200 series is projected to perform very well domestically.