Stainless Steel Plate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Stainless Steel Plate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Stainless Steel Plate Price Chart

Stainless Steel Plate Price Trends

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Stainless Steel Plate Price Trend for the First Half of 2023

Stainless Steel Plate price trend observed persistent depreciation during the first half of the year 2023. Though the downstream fundamentals showed considerable improvements by posing substantial queries, it was the overstocked inventory levels that guided the downfall in the Stainless Steel Plate market.

In the Chinese domestic market, with an approximate degradation of about 16%, the monthly average spot prices fell from about 2316 USD/MT in January’23 to around 1942 in June’23. Long halts in industrial activities during the multiple phases of the Covid 19 pandemic were the major reasons behind surfeit inventory levels that kept weighing the Stainless Steel Plate market down.

Analyst Insight

According to Procurement Resource, given the glutted supplies, not much improvement is projected in the Stainless Steel Plate price trend.

Stainless Steel Plate Price Trend for the Second Half of 2022

Stainless Steel Plate observed mixed price trend during the second half of the year 2022. The prices first fell continuously in the third quarter because of lackluster demands from downstream manufacturing, automobile, machinery, and construction industries. The Chinese industries were still struggling to open up completely after the removal of the COVID-19 lockdown in H1’22.

To top it the war in Europe between Russia and Ukraine severely disrupted the global supply chains and trade routes. These events led to the heightening of global inflation. So, the expenditures became more necessity-centric, and the dull demands pushed the Stainless Steel Plate prices downhill. However, some temporary reverse fluctuations were observed in the second quarter; the general market trend were still disappointing.

Analyst Insight

According to Procurement Resource, the uncertainty around the global economic outlook suggests mixed market behavior for Stainless Steel Plates in the coming months.

For the Second Quarter of 2022


At the end of August, stainless steel plate prices were below the 4,020 RMB/MT barrier, approaching the nearly three-week low of 3,996 RMB/MT in the middle of the month. This drop was a result of strict power rationing policies implemented by local Chinese governments, which weighed on the outlook for industrial activity in the country that is the world's largest user of stainless steel plate.

Record-breaking heatwaves across the nation parched rivers and damaged hydroelectric power, while numerous power grids were shut down to minimise heat damage. This reduced need for stainless steel plate industry inputs as a result of energy rationing offset the decline in stainless steel plate production.

North America

For most of 2022, US stainless steel plate prices had been significantly impacted by weak downstream demand, conservative service centre purchasing, and a continually large supply. Prices have decreased by 48 percent since the start of 2022 as a result of a market glut that has persisted since stainless steel platemakers overshot demand in the fourth quarter of 2021.


Stainless steel prices in Europe declined further towards the end of June due to sustained low demand from wholesalers.The domestic base price of stainless steel cold-rolled sheet 2mm grade 304 shipped Northern Europe was 1,250-1,300 EUR/MT, down 50 EUR/MT week on week. The demand from end-users was generally rated as reasonable, while that from distributors and service centres was widely reported to have all but vanished due to extremely high stock levels.

For the First Quarter of 2022


The stainless-steel plate market in China had been weak in the beginning of the first quarter of 2022 even though prices were rising slightly. In mid-January the price was close to 17,973 RMB/MT. In February, stainless-steel plate prices fell to 19,133 RMB/MT. Towards the end of March, its market was still weak at 19,270 RMB/MT. The demand was slow due to the pandemic and downstream purchasing was weak.

North America

In January, the steel prices witnessed a downward trend in the US as hot-rolled steel prices dropped by 475 USD/MT from the peak high price of 1480 USD/MT. In February, the prices started to rise again amid shortage of supplies and increased by 60-100 USD/MT. Stainless steel surcharge in the US reached eleven-year highs at 1.3 USD/lb in March 2022, increasing 45% on year-to-year basis.

The demand in the country was moderate, as infrastructure activities resumed after the pandemic even though the recovery was slow. The Ukraine-Russia war led to price volatility in the global markets for the product.


Prices went up in Europe after the Ukraine-Russia war led to surge in nickel prices. Stainless steel scrap was delivered at 1700-1800 GBP/MT by the last week of February, rising by 50-60 GBP/MT within a week. In March, the European steel prices witnessed price jumps due to supply disruptions due to the Ukraine-Russia war as Ukraine is responsible for 1% of the global steel production while Russia is responsible for 4%.

For the Fourth Quarter of 2021


Costs of cold-rolled alloy in Asia increased during the year-end, owing to higher nickel prices and China's stainless-steel market. As a result of the better market attitude, the base price of 304 cold-rolled plate in Asia increased by 15 USD in less than a week. Due to China's domestic market's constant price bounce, the price before the Lunar New Year was predicted to be steadier. Additionally, the present low level of inventories continued to support the spot market and raw material demand.


Prices for European stainless steel hot and cold rolled coils remain elevated in December month as a result of rising alloy surcharges. However, the effect of falling pricing in China and other Asian nations was beginning to show up in European coils. While high values were expected to persist through 2022, European stainless CRC prices dropped from 4,000 EUR/MT (USD 4,521) delivered in December to 3,900 USD/MT.

North America

Prices in the United States remained excessive in comparison to historical levels. The prices, however, declined in the last few months of 2021. The cold-rolled coil in the United States ended at 2,053 USD/short tonne in December, a decrease of 2.6% month over month.

The price, however, remained much higher than the December 2019 price of slightly over 1,018 USD/short tonne. Meanwhile, the price of the hot-rolled coil in the United States decreased 5.7% month over month to 1,690 USD/short tonne. The price increased from roughly 910 USD/short tonne in December 2019.

Latin America

Brazil is Latin America's largest crude steel producer, accounting for nearly 56% of the region's output in 2021. Mexico was second, accounting for roughly 30% of steel output. That year, crude steel output in Latin America was anticipated to be around 65.04 MMT.

For First, Second and Third Quarters of 2021


The prices during the end of the first quarter-end were 2865 USD/MT for HRP 304. By the end of the second quarter, the prices reached a value of 3052 USD/MT indicating a rise in prices for Hot Rolled Coil due to high demand in the APAC, primarily in countries like India and China. (The regional average price of stainless steel in Asia is calculated by taking an arithmetic average of the prices in China, Japan, South Korea, and Taiwan. Prices are gathered in the native currency and converted to US dollars for comparative purposes.)


By March end, the prices of HRP 304 were 2596 USD/MT. The increasing price trend was observed for the first two quarters. By the end of the month of July, the plate’s price reached 3069 USD/MT and CRC 304 was at 3322 USD/MT and the increase in prices continued during the third quarter.

By the end of the third quarter or during the September month HRP 304 reached a high value of 3310 USD/MT while Cold Rolled Coil 304 reached 3808 USD/MT. (The regional average price of stainless steel in Europe is calculated using an average of the prices in Germany, France, Italy, Spain, and the UK.)

North America

The price of the plate by the first quarter-end was 3371 USD/MT and the price of the cold-roll coil was 1888 USD/ton, indicating an upward trend in prices from the last year. The last twelve months were difficult for everyone involved in the stainless-steel business in the United States. In a stunning reverse, the record pandemic-induced decline in the alloy’s consumption was surpassed by robust demand, supply shortages, and skyrocketing prices.

The rise in demand over the last few months pushed many US stainless steel market participants into unknown terrain. Months of destocking at the pandemic's peak, followed by such a sudden increase in demand, rapidly drained wholesalers' stockpiles. This was particularly noticeable in the 300 and 400 series coil products intended for use in the automotive and white goods industries. The poor weather conditions in portions of the United States added to the supply chain's already precarious state.

Latin America

By March end, the prices of Hot Rolled plate 304 were 1094 USD/MT. By the end of the second quarter, the prices reached a value of 1496 USD/MT for Hot-rolled plates suggesting an increase in the price as a result of increased demand.

By the conclusion of the third quarter or in September, Hot Rolled plate 304 had achieved a high price of 1439 USD/MT, while Cold Rolled Coil 304 had hit a high of 1558 USD/MT.  While August saw rises of 2.3% and 3.3% over July, September saw a modest dip, while maintaining strong production levels and achieving an aggregate of 21.2% more raw steel and 27.9% more rolled steel than the same month last year.

For the Year 2020


The prices of hot rolled plate (HRP) 304 during the November and December were around 2617 and 2663 USD/MT respectively whereas the prices of cold-rolled coil 304 were around 2475 and 2524 USD/MT respectively in the Asia Pacific region.

Before the Chinese year, stainless steel was difficult to have substantial variations. Demand was limited and the deal was winding down. Post which, most of the merchants focused on active delivery and processors largely to the delivery of orders. In the short term, the metal was projected to be predisposed to the primary finishing operation. According to SunSirs' price monitoring of stainless steel plate, the price was 1908.51 USD/MT on January 6, 2020.


November prices during 2020 for HRP 304 were 2131 USD/MT and for Cold Rolled Coil (CRC) 304 1923 USD/MT. The prices increased during the month reaching the December value of 2237 and 2153 USD/MT Respectively for Hot Rolled plate 304 and CRC 304. (The regional average price of in Europe is calculated using an arithmetic average of the prices in Germany, France, Italy, Spain, and the United Kingdom.)

North America

The price of HRP 304 was 2771 USD/MT whereas the price for CRC was around 1633 USD/MT. Many alloy mills halted output in the early months of the 2020 shutdowns, fearful that we were heading into a terrible recession, possibly even a depression. However, the decline in demand for iron ore was brief. During the early stages of the epidemic, Americans who were stranded at home raced to clean up their homes. Soon after, steel-heavy items such as barbecues and freezers became popular. The mills were taken aback by the rapid recovery.

Latin America

The price of hot rolled plates was 714 USD/MT during November month whereas by the end of December the prices reached 839 USD/MT in the Latin American region. Brazil was Latin America's largest producer of crude steel in 2020. Brazil produced roughly 31.4 MMT of basic steel that year. Mexico came in second place, producing over 16.8 MMT of crude steel.

Procurement Resource provides latest prices of Stainless Steel Plate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Stainless Steel Plate is often referred to as 'corrosion-resistant steel'. It is known by this name as it does not stain, corrode or rust as easily as normal carbon steel. Due to its anti-oxidation qualities, stainless steel has emerged as a popular choice for use among consumers and manufacturers.

Product Details

Report Features Details
Product Name Stainless Steel Plate
Industrial Uses Chemical and fuel tanker, Vehicles, Chemical plants, Petro chemical plants, Modern architecture, Cladding, Fascias, Food hygiene, 3D printing
Supplier Database Jindal Stainless Group, Sangavi Enterprise, Panchdeep Metal Corporation, Nandishwar Steel, AB Steel
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes 
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Stainless Steel Plate Via Melting Process

In order to produce Stainless Steel Plate, the raw materials including iron ore, chromium, silicon, nickel, etc. are basically melted together in an electric arc furnace (EAF). This step generally requires about 8 to 12 hours of intense heat to melt these materials and form Stainless-Steel Plate after industrial processing.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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