Stainless Steel Price Trends: Marginal Improvements Amid Supply Constraints

Key Insights

• 304 and 316L Prices Stable: Current pricing for 304 CR material is Rs.189-194/kg, and 316L HR is priced around Rs.328/kg for imported material.
• Demand Rising in 300 and 400 Series: There is an improvement in demand, especially in the 300 and 400 stainless steel series, though supply remains constrained.
• 200 Series Strong Domestic Demand: With limited imports, demand for 200 series stainless steel has climbed, showing optimism in the domestic market.
• Jindal Stainless Price Protection: As per reports, Jindal Stainless Ltd (JSL) introduces a Price Protection Policy for orders placed from April 21-24, valid till 20th May 2025.
• Transmesa Expansion in Spain: Transmesa invests €15 million to expand its stainless tube production for automotive applications, adding jobs and increasing turnover by 33%.

Stainless Steel Price:

• Nickel prices at $15,745/MT.
• Copper prices at $9254/MT.
• INR opened today against USD at 85.16/-.
• 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.328/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.
• 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 in the 300 series is marginally improving, but supply issues persist.
• Demand in the 400 series is also seen to be rising. 
• Due to the lack of imported material, demand in the 200 series has climbed even more and is optimistic.
• As anticipated, No. 4 PVC material demand has continued to increase in recent months for both the 200 and 300 series.

Stainless Steel News:

• Spain's Transmesa to invest €15 million in new stainless tube line: Transmesa has invested €15 million to expand its tube production facility in Sant Ramon, Lleida, Catalonia, to meet the needs of hybrid and hydrogen vehicles. The expansion includes a new production line for stainless steel tubes, new machinery, and two additional buildings, increasing the plant’s total surface area to over 22,000 m². The expansion is expected to increase the company’s turnover by 33%, from €60 million to €80 million.
• Price Protection Policy by JSL: Jindal Stainless Ltd( JSL) has announced Price Protection Policy(PPP) till 20th May 2025 on order booking from 21st April 2025 to 24th April 2025.

Expert Opinion:

• In terms of pricing, the 300 series is likely to see an upward trend due to the high USD exchange rate.
• Prices for the 400 series are also expected to stay elevated, influenced by the BIS issue.
• The 200 series is performing well in the domestic market as limited imports continue to support strong demand.