Stainless Steel Market Update: Prices Hold Steady, Demand Grows in 200 and 400 Series

SS Cold Rolled Coils

SS Hot Rolled Coils

09 Jun 20252 Min ReadDaily Market Report

Stainless steel prices in India remain steady across grades with slight upward movements in 316L. The market is witnessing strong demand in the 200 and 400 series, driven by limited imports and infrastructure push. Domestic consumption has surged 84% over five years, reaching 4.8 million tonnes in FY25. While 300 series demand is lukewarm, No.4 PVC finishes continue to gain traction. Experts expect continued momentum in 200 and 400 series amid stable to strong price trends.

Key Takeaways

Price Range Across Grades
304 CR wider 2B is priced at ₹189–194/kg; imported 316L HR is around ₹334/kg, with Indian supply ₹5/kg higher.
Scrap Purchase Prices
Indian producers are buying 304 scrap at ₹1,27,886/MT and 316L at ₹2,25,065/MT, indicating steady raw material procurement.
Demand Trends by Series
300 series sees low demand with some shortages; 400 series demand rising; 200 series upbeat due to import scarcity.
Domestic Consumption Surge
India’s stainless steel use rose 84% in five years, from 2.61 MT to 4.80 MT in FY25, led by infra and transport sectors.
Market Outlook
Experts foresee stable prices in the 300 series, stronger trends in 400 series, and continued growth in 200 series demand.

Stainless Steel Price:

Nickel prices at $15,490/mt, while Copper prices at $9727/mt.
INR opened today against USD at 85.66/-.
Current retail price for 304 CR wider 2B is now running approximately at Rs.189-194/kg basic price range, ex-Delhi, while for narrow, it is approximately Rs.8-10/kg cheaper, plus GST.
SS 316L HR imported material is now being retailed in the price range of Rs.334/kg for HR wider. Indian material is expensive by Rs.5/kg. For CR wider, the rates are Rs.5/kg higher than HR.
SS 201 imported CR 2B (extra low thicknesses like 0.26mm) is being retailed at Rs. 163-165/kg, ex-Delhi, plus GST. Domestic 201 (cheapest grade) is now being retailed in the price range of Rs.138-142/- base price (plus thickness difference extra), plus GST.
In case of 1500 width, extra Rs 4/kg from above rates for N4 finish in 300 seriesIndian flat stainless steel producers are buying scrap after the service of the finished-goods at the following latest prices (plus GST):-
a. 304: Rs.1,27,886/MT
b. 316L: Rs.2,25,065/MT
c. J5 Patta: Rs.72,000/MT
d. J8 Patta: Rs.70,000/MT
e. 430: Rs.56,317/MT

Stainless Steel Demand and Supply

Demand is down in 300 series but in some cases material shortage is also there.
In 400 series also, demand is seen to be increasing.
200 series demand has further increased and is upbeat, due to paucity of imported material.
No.4 PVC material demand is still on the rise, both in 200 and 300 series, as has been observed in the past few months, as expected.

Stainless Steel News

India’s stainless steel usage surged 84% over five years, reaching 4.8 million mt in FY25 from million mt in FY21, according to the Indian Stainless Steel Development Association (ISSDA).
The growth was driven by sectors like infrastructure, railways, metros, and construction. Annual demand rose steadily—by 33% in FY22, 14% in FY23, and another 14% in FY24.
Per capita stainless steel consumption also increased by 36%, from 2.5 kg in FY21 to 3.4 kg in FY25. ISSDA President Rajamani Krishnamurti projected demand to reach 6.8 million mt by FY30, with per capita use climbing to 4.5–5.5 kg. He also highlighted emerging opportunities in green hydrogen, biofuels, renewable energy, and smart cities.
Meanwhile, JSL hiked prices by ₹4/kg in 316L grade.

Expert Opinion

Prices for the 300 series stainless steel are expected to remain stable in the near term. Meanwhile, the 400 series is anticipated to continue trading on the higher side, reflecting a firmer market trend. Additionally, the 200 series is projected to perform strongly, particularly in the domestic market, indicating steady demand and favorable conditions.