Stainless Steel Market Update: Rising Prices, Tight Supply in 200 & 300 Series
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Stainless steel prices are showing firmness across grades, especially in the 200 and 300 series, driven by supply shortages and increased demand for PVC-coated material. Jindal Stainless has raised prices by Rs 2/kg for 304/316L as demand improves. 304 CR wider 2B now trades at Rs 189–194/kg, while 316L HR imported is around Rs 330/kg. Scrap purchase prices have also increased, reflecting cost pressures.
Key Takeaways
- Price Increase by Jindal: Jindal Stainless raised 304/316L prices by Rs 2/kg, reflecting supply tightness and rising cost pressures.
- 300 Series Supply Issues: 300 series demand is improving, but supply constraints are keeping prices elevated and bookings active.
- 200 Series Momentum: Shortage of imported material is supporting strong domestic demand and pricing in the 200 series.
- PVC Material Demand: No.4 PVC-coated stainless steel continues to gain traction across both 200 and 300 series grades.
- Rising Scrap Prices: Producers are buying scrap at higher rates, indicating cost pressure and likely price hikes ahead.
Stainless Steel Price:
- Nickel prices are at $15,595/ton, while copper prices are at $9410/ton.
- INR opened today against USD at 85.01/-
- 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.330/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 3/kg from above rates.
- Indian flat stainless steel producers are buying scrap after the service of the finished-goods at the following latest prices (plus GST):-
- 304: Rs.1,27,886/ MT
- 316L: Rs.2,25,065/ MT
- J5 Patta: Rs.72,000/ MT
- J8 Patta: Rs.70,000/ MT
- 430: Rs.56,317/ MT
Stainless Steel Demand and Supply:
- Demand is slightly getting better in 300 series, but shortage of supply still remains a concern.
- Demand in the 400 series is also seen to be rising.
- The 200 series remains strong, driven by a shortage of imported material.
- No.4 PVC material demand continues to rise across both the 200 and 300 series, a trend that has been consistently observed over the past few months.
Stainless Steel News:
Jindal Stainless Limited (JSL) increased prices in grade 304/304L and 316L by Rs 2/Kg on 6th May 2025.
Expert Opinion:
- In the current situation, 300 series prices are anticipated to increase.
- 400 series prices are expected to stay high.
- 200 series is also anticipated to do very well domestically.
Daily Market Report
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