Chinese iron ore futures finished lower and Qingdao spot prices eased slightly as trader activity stayed thin and steel mills remained wait-and-see. Weekly supply was broadly stable, with global shipments flat and port arrivals edging down, while the Port Hedland strike has not yet materially affected availability. Near-term prices are expected to consolidate on a subdued note.
Taiwanese stainless steel mills announced August price hikes for 304 flat-rolled products and began negotiations with distributors. Firm cost support from stable LME nickel prices, steady Indonesian raw material quotes, and a weaker local currency underpins the increase despite sluggish demand.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Stainless Steel | China | FOB | USD 2,210.91/MT | June 2026 |
| Stainless Steel | India | CIF | USD 2,298.46/MT | June 2026 |
| Stainless Steel | USA | CIF | USD 2,365.86/MT | June 2026 |
| Stainless Steel | Germany | CIF | USD 121.49/MT | June 2026 |
| Stainless Steel | Australia | CIF | USD 2,276.99/MT | June 2026 |
| Stainless Steel | China | FOB | USD 2,232.91/MT | May 2026 |
| Stainless Steel | India | CIF | USD 2,300.25/MT | May 2026 |
| Stainless Steel | USA | CIF | USD 2,352.10/MT | May 2026 |
| Stainless Steel | Germany | CIF | USD 2,326.36/MT | May 2026 |
| Stainless Steel | Australia | CIF | USD 2,283.74/MT | May 2026 |
Stay updated with the latest Stainless Steel prices, historical data, and tailored regional analysis
Asia
Stainless Steel prices in China increased to ~RMB 14.56/kg and ~RMB 15.11/kg, respectively, in the first two months of Q2'26, showing a ~3.7% increase. The market gained support from higher nickel costs, alloy expenses and stronger buying interest. Reduced nickel ore availability and changes in raw material pricing increased production costs for stainless steel producers. Ferrochrome prices also remained firm, limiting the ability of mills to reduce offers. However, the upward trend weakened later as buyers resisted higher prices and demand remained soft. High stainless steel production levels increased supply pressure, while weak real-estate activity and lower export demand limited market recovery. Demand from chemical equipment, energy projects and advanced industrial applications provided some support but could not fully offset weakness in traditional sectors.
Europe
Stainless Steel prices in Germany increased to ~EUR 1.93/kg in April and ~EUR 2.00/kg in the next month, showing a ~3.6% increase. European prices were supported by higher alloy surcharges and reduced import competition. The 304L and 316L alloy surcharges increased through Q2 due to higher nickel and molybdenum costs. Lower stainless-steel imports into Europe supported domestic mill pricing, with import share declining due to trade measures and reduced overseas supply. Demand remained mixed, as data centres and HVAC applications provided support, while automotive, construction and capital-equipment demand remained weak.
North America
Stainless Steel prices in the United States increased to ~USD 2,219.91/MT in April and ~USD 2,352.10/MT in the following month, showing a ~6% increase. The market was supported by higher alloy surcharges, rising nickel and molybdenum costs and stronger domestic mill pricing. Nickel prices increased during April and May, while molybdenum prices rose sharply in June, supporting higher 316 stainless-steel costs. Producers also increased additional charges for selected products. Demand remained selective, supported by distributor restocking, data-centre construction and pipe manufacturing, while broader industrial and consumer demand remained uneven.
Analyst Insight
According to Procurement Resource, stainless steel prices are expected to remain supported by alloy cost movements and regional supply conditions, although weak construction and consumer demand may limit further increases.
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Asia
During the first quarter of 2026 in Asia, the price trend of stainless steel was relatively steady but quite volatile. Higher levels of crude steel output in the international market, estimated at 1,849.4 million metric tons for the year 2025, maintained the supply situation under pressure. Initially, prices moved upwards on account of rising prices of nickel; however, demand fell due to slower economic activity during the Lunar New Year celebrations. As the quarter progressed, prices faced pressure amid rising inventory owing to weak demand. By March, demand picked up due to the revival in construction activity, while elevated stockpiles and low purchasing led to minimal gains in prices. However, disruptions in exports from the Strait of Hormuz resulted in greater supply domestically and put pressure on prices.
Europe
In Europe, prices for stainless steel continued to trade within a limited range throughout the quarter. Supply levels stayed stable, while demand was low in both the construction and manufacturing industries. Logistical delays resulting from the conflicts in the Middle East caused disruptions in supply, drove up freight rates and slowed down imports. Higher logistics expenses provided some support to prices, although low economic growth and conservative purchasing kept prices steady.
North America
For the North American region, stainless steel prices were relatively volatile with an upward bias during the quarter. The production was steady, while the input and logistics costs supported the market. There was an improvement in demand towards March from the construction and manufacturing industries, albeit at a conservative level. Buyers focused on short-term purchases, which limited stronger price recovery.
Stainless steel is a popular alloy of iron and chromium with trace amounts of carbon, nickel, and molybdenum. This steel has high resistance to corrosion along with high strength and durability. Due to its high corrosion resistance, it finds application in various industries such as construction, transportation, oil and processing and related sectors. Its high ductility enables it to be reformed into various shapes according to the specific requirements.
Construction, Transportation, Oil and gas, Chemical and petrochemical, Medical and pharmaceuticals
Acerinox S.A, Aperam Stainless, ArcelorMittal, Jindal Stainless, Nippon Steel Corporation, ThyssenKrupp Stainless GmbH
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
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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.
The scrap steel material is first subjected to an arc furnace and after molting, the matter is purified and then cast into solid structures. Another heat treatment of these cast materials with subsequent cleaning and polishing gives stainless steel as the end product.
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