Nickel Drops, Copper Gains; Global Tariff Wars Stir Uncertainty in Stainless Steel Market
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstainless_steel_7e8912af66.png&w=1920&q=100)
Stainless steel prices remained stable, with 304 CR at Rs.197-199/kg and 316L HR at Rs.318-322/kg. Demand for the 200 series surged due to import shortages, while 300 series saw slight improvement. Experts anticipate price hikes in the 300 and 400 series. Meanwhile, global trade tensions escalated as Brazil prepared countermeasures against US steel tariffs.
Key Takeaways
- Nickel and Copper Movement: Nickel fell 0.55% to $15,435/mt, while copper rose 0.15% to $9,372/mt, impacting stainless steel pricing trends.
- 200 Series Demand Surge: Limited imports have pushed demand higher, making it one of the strongest-performing stainless steel categories in the domestic market.
- 300 Series Price Outlook: Prices may increase due to a stronger USD, although cash constraints are limiting demand recovery.
- Trade Tensions Rise: Brazil and the EU push back against US tariffs, with potential countermeasures that could disrupt global steel trade.
- Duplex Stainless Steel Growth: The market is projected to expand by USD 166.6 million by 2029, with key vendors focusing on industry partnerships.
Stainless Steel Price:
- Nickel opened today down by 0.55% at $15,435/mt, while Copper opened today up by 0.15% at $9,372/mt.
- INR opened today against USD at 86.77/-.
- Current retail price for 304 CR wider 2B is now running approximately at Rs.197-199/kg basic price range, ex-Delhi, while for narrow, it is approximately Rs.3-5/kg cheaper, plus GST.
- SS 316L HR imported material is now being retailed in the price range of Rs.318-322/kg for HR wider. Indian material is expensive by Rs.5-10/kg. For CR wider, the rates are Rs.10/kg higher than HR.
- SS 201 imported CR 2B (extra low thicknesses like 0.26mm) is being retailed at Rs. 165-167/kg, ex-Delhi, plus GST. Domestic 201 (cheapest grade) is now being retailed in the price range of Rs.143-145/- base price (plus thickness difference extra), plus GST.
Stainless Steel Demand and Supply:
- The cash constraint is causing demand in the 300 series to marginally improve, but not significantly.
- Demand in the 400 series is also seen to be rising.
- Due to the lack of imported material, demand in the 200 series has climbed even more and is optimistic.
- As anticipated, No. 4 PVC material demand has continued to increase in recent months for both the 200 and 300 series.
Stainless Steel News:
- Brazil plans countermeasures against US President Donald Trump’s 25% steel and aluminum tariffs, including reciprocal tariffs and stronger BRICS cooperation.
- The EU's hot-rolled coil exports face uncertainty under the new tariffs, impacting 15% of volumes. The European Commission called the move unjustified, while France and other nations urged the US to target China instead. Canada, Mexico, and China strongly opposed, with Beijing imposing retaliatory tariffs on US goods.
- The duplex stainless steel pipe market is expected to grow by USD 166.6 million from 2025 to 2029 at a CAGR of 4.4%, with vendors forming partnerships across industries.
- US copper prices surged after Trump’s tariff plans, with the US Comex copper premium over LME copper hitting a record $920 per ton, up from $558 on Friday.
Expert Opinion:
- In the current situation, 300 series prices are anticipated to increase due to the high USD.
- 400 series prices are expected to stay high due to the BIS issue.
- 200 series is also anticipated to do very well domestically due to limited imports.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstainless_steel_1_feecd63a39.png&w=3840&q=75)
Stainless Steel Prices Hold Firm as Demand Across Grades Stays Strong
Stainless steel prices remain stable across key grades, with 200 series demand growing due to import shortages. The 300 series is also showing slight improvement despite cash flow constraints. Nickel prices went down by 0.16% today, while Copper opened up by 0.26%. Globally, China’s stainless steel output fell sharply in January but is expected to rebound in February.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstainless_steel_2_7a67ecb030.png&w=3840&q=75)
U.S. Tariffs Shake Global Steel Market; Nickel Drops 1%
Nickel fell 1% to $15,420/MT, while copper declined 0.43%, impacting stainless steel costs. Demand for the 200 series is rising due to import shortages, while 300 and 400 series remain stable. Prices may increase as USD remains high and regulatory constraints tighten supply. Meanwhile, the U.S. imposed 25% tariffs on steel imports, affecting global trade.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCopper_wire_rod_2a7d2ec133.JPG&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCopper_Cathode_31c31256dd.JPG&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fcold_rolled_stainless_steel_coil_59d3a41240.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHRC_b2008dddb0.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FAluminium_d79ae74f64.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)