Stainless Steel Prices Firm as JSL Hikes by Rs 3/kg and Supply Tightens Across Grades
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Stainless steel prices across 200, 300, and 400 series are trending higher due to tightening supply and increased demand, especially in domestic markets. Jindal Stainless Limited raised prices by Rs 3/kg for widths above 1300mm. Meanwhile, scrap buying rates remain high, reflecting bullish sentiment. Price expectations remain firm across all series due to ongoing logistical and regulatory constraints.
Key Takeaways
- JSL raises prices: Jindal Stainless Limited hiked prices by Rs 3/kg for widths above 1300mm across all grades on April 22.
- 300 series trend strong: Demand for the 300 series is firming up, with limited supply and rising interest in No.4 PVC-finished materials.
- Import shortage boosts 200 series: Import challenges have pushed buyers toward domestic 200 series material, lifting prices and demand significantly.
- 400 series demand up: With BIS-related supply issues, the 400 series is witnessing improving demand and pricing strength.
- Scrap buying rates stable: Indian producers are buying stainless scrap at consistent high rates, reflecting confidence in downstream demand.
Stainless Steel Price:
- Nickel prices at $15,745/MT, while Copper prices at $9437/MT.
- INR opened today against USD at 85.42/-.
- 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.
- 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 there is a shortage of supply.
- 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:
- Price increase Rs 3/kg by Jindal Stainless Limited
- JSL increased prices by Rs 3/kg for width more than 1300 mm in all grades on 22nd April 2025.
Expert Opinion:
- 300 series prices are expected to rise in the current scenario as imports are choked.
- 400 series prices are also expected to remain on the steeper side, because of the BIS issue.
- 200 series is also expected to perform very well, domestically, due to import challenges.
Daily Market Report
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