Stainless Steel Market Update: 200 & 400 Series Demand Up Amid EU Import Quota Cuts

Key Highlights:

1. Nickel is trading at $15,130/ton, and copper at $10,558/MT.
2. INR opened at 88.02 against the USD.
3. Retail prices: 304 CR wider 2B ₹200–205/kg; HR ₹194–197/kg; narrow widths ₹8–10/kg lower.
4. Imported 316L HR is ₹350/kg; domestic material ₹5/kg higher; SS 201 imported CR 2B at ₹166–169/kg; domestic ₹142–146/kg.

Stainless Steel Market Prices

• Nickel prices stand at $15,130/ton, while copper is trading at $10,558/MT.
  The INR opened at 88.02 against the USD today.
• The current retail price for 304 CR (wider 2B) is running approximately in the ₹200–205/kg basic price range, while HR is around ₹194–197/kg ex-Delhi. For narrow widths, prices are ₹8–10/kg lower, plus GST.
• SS 316L HR (imported material) is currently being retailed at around ₹350/kg for HR wider, with Indian material priced ₹5/kg higher. For CR wider, rates are around ₹5/kg higher than HR.
• SS 201 imported CR 2B (extra low thickness like 0.26 mm) is being retailed at ₹166–169/kg ex-Delhi, plus GST.
• Domestic SS 201 (the cheapest grade) is trading in the ₹142–146/kg base price range (plus thickness difference), plus GST.
  For 1500 mm width N4 finish in the 300 series, add ₹4/kg to the above rates.

Scrap Purchase Prices by Indian Flat Stainless Steel 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 and Supply Trends

• Demand in the 300 series has declined, though material shortages are being reported in some cases.
• The 400 series is witnessing rising demand.
• The 200 series continues to see strong demand, driven by limited imported material availability.
• No.4 PVC finish material demand remains on the rise across both 200 and 300 series, consistent with the trend observed in recent months.

News Update

• The European Union has confirmed that stainless steel import quotas will be cut by half, imposing a 50% tariff on imports exceeding the quota.
• The European Commission has also proposed a permanent steel import regime potentially effective from July 1, 2026—aligning with SMR’s forecast that duty-free stainless quotas will be reduced by more than half.

Market Outlook

300 series prices are expected to remain stable. 400 series prices are likely to stay firm. 200 series performance is projected to remain strong in the domestic market.