Weakness in futures and finished product markets, combined with steel mill losses and proactive price-cutting purchases, pushed stainless steel scrap prices lower. Disappointing peak season demand and contracted production schedules further weighed on sentiment, with near-term prices expected to remain subdued.
India's stainless steel scrap market firmed in the week ended August 21, with prices rising on tight domestic availability, elevated alloy costs, and volatile nickel markets. High freight costs and container shortages continued to constrain import competitiveness, leaving mills increasingly reliant on domestic supply. Price direction: UP.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Stainless Steel Scrap | China | FOB | USD 1,519.33/MT | July 2026 |
| Stainless Steel Scrap | India | CIF | USD 1,626.14/MT | July 2026 |
| Stainless Steel Scrap | Germany | CIF | USD 1,652.96/MT | July 2026 |
| Stainless Steel Scrap | Australia | CIF | USD 1,617.79/MT | July 2026 |
| Stainless Steel Scrap | Brazil | CIF | USD 1,690.94/MT | July 2026 |
| Stainless Steel Scrap | China | FOB | USD 1,540.02/MT | June 2026 |
| Stainless Steel Scrap | India | CIF | USD 1,627.56/MT | June 2026 |
| Stainless Steel Scrap | Germany | CIF | USD 1,661.51/MT | June 2026 |
| Stainless Steel Scrap | Australia | CIF | USD 1,606.10/MT | June 2026 |
| Stainless Steel Scrap | Brazil | CIF | USD 1,711.63/MT | June 2026 |
Stay updated with the latest Stainless Steel Scrap prices, historical data, and tailored regional analysis
Stainless steel scrap prices in China were 1,515 USD/MT (FOB) in May'26 and edged up to roughly 1,540 USD/MT in June'26, a modest 1.7% gain. In China, higher nickel-ore expectations, firmer stainless steel futures and favorable scrap-based production economics encouraged mills to increase procurement early in the quarter. Market conditions weakened later in May as the traditional stainless steel off-season approached, finished-steel demand softened and buyers became more cautious. A moderate recovery followed in June as mills returned to the scrap market and raw-material costs remained supportive. Indian prices strengthened on firmer regional alloy costs and continued demand for nickel-bearing stainless scrap. In Germany, the prices were around 1,608 USD/MT (CIF) in May'26 before strengthening to approx. 1,662 USD/MT in the last month of the quarter, a 3.3% rise. Germany recorded the increase as elevated alloy and energy costs supported replacement values, although softer service-center buying restrained larger gains.
Analyst Insight
According to Procurement Resource, prices are expected to remain firm but volatile, with nickel costs, mill procurement and seasonal stainless steel demand determining market direction.
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Global stainless steel scrap prices remained stable with a firm undertone during Q1’26 due to rising nickel and ferrochrome feedstock costs. In China, higher NPI and ferrochrome prices strengthened stainless steel scrap economics and supported procurement demand from mills operating elevated March production schedules. Scrap maintained a cost advantage over primary nickel feedstocks, although high stainless-steel inventories and weak downstream demand limited stronger gains. In India, stainless steel capacity utilisation remained below potential despite healthy infrastructure-led demand growth, mainly due to subsidised imports and dependence on imported raw materials. Industry participants are increasingly focused on strengthening domestic scrap recovery systems to reduce import reliance and improve supply security. Across Europe and North America, elevated nickel feedstock costs and stable recycling demand supported market sentiment, while weak manufacturing activity and cautious stainless steel purchasing restricted sharper upward movement. Renewable energy, industrial fabrication, and infrastructure sectors continued to provide baseline downstream demand support.
Stainless steel scrap is the byproduct in the form of pieces or sheets. The stainless-steel scrap is highly corrosion resistant and also has high durability. It is collected and recycled to be melted down and used as a raw material in the production of new stainless-steel products, reducing the need for virgin stainless steel production and conserving resources while minimizing environmental impact.
Aerospace, Renewable energy, Environmental Engineering, Marine applications, Medical devices, Construction, Recycling
Baosteel Group Corporation, EVRAZ North America, BlueScope Steel Ltd, China Steel Corporation, Commercial Metals Company, Hyundai Motor Company
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