| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Stainless Steel (304) | USA | Spot | USD 2,207.00/MT | August 2026 |
| Stainless Steel (304) | USA | Spot | USD 2,393.00/MT | July 2026 |
Stay updated with the latest Stainless Steel (304) prices, historical data, and tailored regional analysis
Asia
In China, 304 cold-rolled prices eased over the quarter, as falling stainless futures and lower raw material costs weighed on the market in July. Nickel pig iron prices dropped as mills pushed for lower costs and stopped bulk restocking, while cheaper steel scrap and refined nickel reduced demand for pig iron. Prices held steady in August as futures firmed, but demand stayed weak in southern markets. By late September, prices were below July and August levels, though they recovered slightly before the holidays. Taiwan moved the other way, as Tang Eng raised 304 coil prices for August, its second straight monthly increase.
Europe
European 304 prices were supported by new trade defence measures from July 1, which cut import quotas sharply and placed a high tariff on volumes above quota. Imports of finished stainless products fell 37% in the first half, reducing competition for local mills. However, alloy surcharges eased in July as nickel costs fell, and demand was about 3% lower than a year earlier, with the summer slowdown expected to reduce Q3 sales.
North America
In the USA, the average spot price of Stainless Steel (304) fell from ~USD 2,393.00/MT in July to ~USD 2,207.00/MT in August, a decline of ~7.8%. The main reason was a lower alloy surcharge in August as nickel costs eased, which reduced the total price paid by buyers. Surcharges then rose slightly in September, pointing to some stabilisation. Despite softer pricing, the US market remained profitable for producers, with Acerinox calling North America its main profit driver in Q2, supported by import tariffs that limit foreign competition.
Analyst Insight
According to Procurement Resource, stainless steel 304 prices may steady from current levels as surcharges stabilise and trade barriers protect Western markets, while soft demand in Asia keeps a lid on any rebound.
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Asia
During Q2’26, China’s Stainless Steel (304) market strengthened initially as higher nickel costs, firm ferrochrome values and tighter nickel ore availability raised production expenses. Buying interest improved during the early part of the quarter, while changes in raw-material pricing encouraged mills to maintain firmer offers. However, momentum weakened later as buyers resisted higher levels and downstream demand remained soft. Elevated stainless-steel production also increased supply pressure, while weak real-estate activity and lower export demand restricted further market gains. Chemical equipment, energy projects and advanced industrial applications provided some support but were insufficient to offset weakness across traditional consuming sectors.
Europe
European Stainless Steel (304) markets remained supported by higher alloy surcharges and reduced import competition. Rising nickel and molybdenum costs lifted alloy-related charges, allowing domestic mills to maintain firmer pricing despite mixed downstream consumption. Stainless-steel imports into Europe also declined, reducing competitive pressure from overseas suppliers and supporting domestic mill positions. Demand from data centres and HVAC applications provided a positive outlet, while automotive, construction and capital-equipment sectors remained weaker. The combination of higher alloy costs and tighter import availability therefore remained more influential than broader demand weakness during the quarter.
North America
The US market recorded stronger pricing momentum as rising alloy surcharges and higher nickel and molybdenum costs increased mill costs. Producers also raised additional charges on selected stainless-steel products, reinforcing domestic pricing. Distributor restocking, data-centre construction and pipe manufacturing supported consumption, particularly where stainless steel was required for industrial and infrastructure applications. However, broader industrial and consumer demand remained uneven, limiting the strength of the recovery. Higher input costs therefore remained a more important driver than broad-based downstream demand.
Stainless steel (304) is also known as 18-8 stainless steel which is widely employed in the austenitic stainless-steel alloy. It is primarily composed of iron, chromium, and nickel with trace amounts of manganese and silicon. It has excellent corrosion resistance and is popularly employed in applications which involve exposure to moisture, chemicals, or acidic environments. It is also non-magnetic, versatile, and easy-to-fabricate and thus is used in industries such as food processing. Architecture, medical equipment, transportation, and several other related fields.
Transportation, Textile industry, Mining and quarrying, Petroleum industry, Oil and gas
Acerinox S.A., Aperam Stainless, ArcelorMittal, Baosteel Group, Jindal Stainless, Nippon Steel Corporation, POSCO, ThyssenKrupp Stainless GbH, Yieh United Steel Crop
CurrencyUS$ (Data can also be provided in local currency)
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