Stainless Steel Market Holds Firm; Jindal Partners with Railway University
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Stainless steel prices remain stable in the 300 series, while the 200 and 400 series are witnessing strength due to limited imports and rising demand. Nickel is trading at $15,269/ton and copper at $9,793/ton. Scrap procurement remains active. Jindal Stainless has entered a strategic partnership with Gati Shakti Vishwavidyalaya to promote research and academic collaboration in steel applications.
Key Highlights:
- 304 CR wider 2B is retailing at ₹189–194/kg;
- 316L HR (imported) at ₹334/kg
- 200 series demand is strong amid limited imports
- 400 series also shows rising demand
- Nickel at $15,269/ton; Copper at $9,793/ton
- INR at ₹86.82/USD
- Jindal Stainless partners with Gati Shakti Vishwavidyalaya for industry-academic collaboration
International Metal Prices & Currency Watch:
- Nickel: $15,269/ton
- Copper: $9,793/ton
- INR/USD: Opened at ₹86.82
Current Market Rates (Ex-Delhi):
- 304 CR wider 2B: ₹189–194/kg base (narrow width: ₹8–10/kg cheaper) + GST
- 316L HR (imported): ₹334/kg (Indian material is ₹5/kg more expensive)
- CR wider: ₹5/kg higher than HR
- 201 imported CR 2B (0.26mm): ₹163–165/kg + GST
- 201 domestic (base grade): ₹138–142/kg (thickness difference extra) + GST
- 1500mm width (N4 finish, 300 series): Additional ₹4/kg
Scrap Purchase Prices (Ex-plant + 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 Outlook:
- 300 series: Demand down, but some material shortages observed
- 400 series: Demand increasing
- 200 series: Demand upbeat, supported by limited imports
- No.4 PVC finish: Demand rising in both 200 and 300 series
Industry News: Jindal Stainless Signs R&D Pact
Jindal Stainless has signed an MoU with Gati Shakti Vishwavidyalaya, a central university under the Ministry of Railways, to collaborate on R&D and training focused on stainless steel applications in transportation, infrastructure, and logistics.
This partnership includes curriculum development, executive programs, joint research with international institutes, and internship/placement opportunities for students in Vadodara.
Abhyuday Jindal, Managing Director of Jindal Stainless, stated:
"Our partnership with Gati Shakti Vishwavidyalaya reinforces our shared mission to build a skilled, future-ready workforce aligned with India's industrial growth."
Market Sentiment & Price Forecast:
- 300 series prices expected to remain stable
- 400 series prices likely to stay firm or increase
- 200 series to continue performing well domestically
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