What Happened to the Recent Stainless Steel Prices?

In recent weeks, stainless steel prices gained momentum, driven largely by optimism around macro policy announcements. Futures for 304 grades pushed higher, and several mills adjusted their guidance prices, which helped firm spot quotes and prompt more enquiries.

The rally has not fully held because the underlying demand from end-users hasn’t caught up. While market sentiment improved and inquiries increased, actual transaction volumes remain limited. Inventory pressure at mills has eased, but without strong, sustained orders from downstream industries, prices are struggling to hold their gains.

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Our Insight: "For now, the market is watching whether government infrastructure and industrial measures turn into concrete orders. If that happens, gains may become more persistent. In the meantime, buyers should focus on landed-cost comparisons and consider short-term local stock or reliable mill-direct windows to reduce exposure."

Insight by Vivek S. (Business Development Executive)