Stainless Steel Prices Stay High as Currency and Trade Policies Shape Market Trends

Key Insights:

• Stable Stainless Steel Prices: The 200 series remains strong due to low imports, while the 300 and 400 series see slow but steady demand growth.
• China’s Trade Shift: Stainless steel imports fell 29.3% YoY in Jan-Feb, while exports rose by 11.84%, affecting global supply trends.
• Investment in Steel: IFC and Aperam signed a €250M deal for sustainable steel in Brazil, and the UK’s Paralloy Group secured local investment.
• Expert Market Outlook: Prices for the 300, 400, and 200 series are expected to remain firm due to currency fluctuations, BIS regulations, and limited imports.

Stainless Steel Price:

• Nickel opened today up by 0.25% at $16,235/mt, while Copper opened down by 0.01% at $9,926/mt.
• INR opened today against USD at 86.09/-.
• Current retail price for 304 CR wider 2B is now running approximately at Rs.197-199/kg basic price range, ex-Delhi, while for narrow, it is approximately Rs.3-5/kg cheaper. Plus GST.
• SS 316L HR imported material is now being retailed in the price range of Rs.318-322/kg for HR wider. Indian material is expensive by Rs.5-10/kg. For CR wider, the rates are Rs.10/kg higher than HR.
• SS 201 imported CR 2B (extra low thicknesses like 0.26mm) is being retailed at Rs. 165-167/kg, ex-Delhi, plus GST. Domestic 201 (cheapest grade) is now being retailed in the price range of Rs.143-145/- base price (plus thickness difference extra), plus GST.

Stainless Steel Demand and Supply:

• Demand for the 300 series is showing slight improvement, though not significantly, due to ongoing cash flow challenges.
• The 400 series is also witnessing a gradual rise in demand.
• 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:

• China’s stainless steel imports fell 29.3% YoY in Jan-Feb, while exports increased 11.84%.
• Paralloy Group, a UK-based stainless steel alloy specialist, secured a seven-figure loan from Teesside’s investment fund to boost local growth.
• IFC and Aperam announced a €250M deal to support sustainable steel production in Brazil.
• Germany’s business climate index rose to 86.7, signalling economic recovery.
• US ferrous scrap exports face uncertainty due to Turkey’s political instability and Ramadan’s end.

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.