Stainless Steel Market Steady Amid Mixed Demand; Japan's Probe May Stir Global Sentiment

Key Highlights:

• 304 CR wider is priced at ₹189–194/kg; 316L HR (imported) at ₹334/kg.
• Nickel at $15,480/ton, Copper at $9,888.50/ton, INR at 86.37/USD.
• 200 series sees strong demand; 300 series remains weak but faces shortages.
• Japan begins anti-dumping probe into Chinese and Taiwanese CR stainless steel.

Stainless Steel Prices: Stability in 300, Strength in 200 Series

Nickel prices are steady at $15,480/ton, while copper is at $9,888.50/ton.
INR opened today at 86.37/USD.

• The current retail price for 304 CR wider 2B is around ₹189–194/kg (basic price), ex-Delhi.
  For narrow widths, prices are about ₹8–10/kg cheaper (plus GST).
• SS 316L HR (imported) is retailing around ₹334/kg, for HR wider.
  Indian material is priced ₹5/kg higher for the same.
• For CR wider, rates are ₹5/kg higher than HR.
• SS 201 imported CR 2B (especially extra-low thickness like 0.26mm) is being retailed at ₹163–165/kg, ex-Delhi (plus GST).
  Domestic SS 201 (cheapest grade) is in the range of ₹138–142/kg base price, plus thickness adjustment and GST.
• For 1500mm width, add ₹4/kg extra to the above rates for No.4 finish in 300 series.

Scrap Purchase Prices by Indian Producers (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 Trends: 200 Series in Focus

• Demand is weak in the 300 series, though material shortages are affecting supply.
• 400 series is witnessing rising demand.
• The 200 series continues to perform strongly due to a lack of imported material.
• No.4 PVC finish demand is increasing across both 200 and 300 series, continuing the trend seen over recent months.

Global News: Japan Investigates Chinese & Taiwanese Steel Imports

Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan.
This follows a petition (filed May 12) by Nippon Steel and other domestic manufacturers, claiming price suppression due to cheaper imports.

• Imported products are allegedly being sold at 20% to 50% lower than Chinese prices and 3% to 20% lower than Taiwanese equivalents.
• Japanese manufacturers claim erosion of profit margins and inability to reflect rising production costs.
• The investigation will conclude within a year, with a decision pending on anti-dumping duties.

Market Outlook: Price Trends to Watch

• 300 series prices are expected to remain stable.
• 400 series prices may remain firm or rise further.
• The 200 series is expected to continue performing well in the domestic market.