The global 304 stainless steel market witnessed mild fluctuations throughout May 2025, with regional dynamics showing divergent pricing trends for cold-rolled coil (CRC), hot-rolled coil (HRC), and scrap.

China, as the world's largest stainless steel producer, saw its 304 stainless steel CRC price drop slightly from ¥13,050/t to ¥13,150/t by mid-May, before stabilizing at that level through the end of the month. HRC rose from ¥12,500/t to ¥12,700/t, reflecting a modest recovery in domestic demand. Scrap prices rebounded from ¥9,600/t to ¥9,850/t, supported by increased procurement activity and seasonal restocking.

For international comparison, using the June 5, 2025 exchange rate of 1 USD = 7.1836 CNY, Chinese prices in USD terms are approximately:

• CRC: ¥13,150/t ≈ $1,831/t

• HRC: ¥12,700/t ≈ $1,768/t

• Scrap: ¥9,850/t ≈ $1,371/t

These converted values provide a clearer benchmark for global buyers evaluating sourcing options.

• Taiwan held steady with CRC at $2,080/t and HRC at $1,955/t, indicating relative market calm.
  
  
• South Korea maintained CRC at $2,200/t, with HRC remaining marked as “Prime.”
  
  
• India’s CRC was fixed at $2,015/t throughout May, after its early-month revision using the updated import calculation formula.
  
  
• Vietnam Dan Malaysia reported stable pricing across the board: CRC at $1,700–2,200/t, HRC at $1,670–1,850/t, depending on region and supplier.

• Europe saw CRC prices stay unchanged at €2,680/t, with scrap climbing slightly to €1,310/t.
  
  
• North America held firm at $2,900/t for CRC and $1,310/t for scrap.
  
  
• South America reported consistent CRC pricing at $2,343/t and HRC at $1,834/t, reflecting stable demand from regional industries.

• Middle East CRC remained unchanged at $1,860/t, indicating neutral supply-demand pressure.
  
  

• Türkiye saw no change, with CRC at $2,320/t.
  
  

• Russia experienced a slight dip in CRC from RUB 275,280/t to RUB 269,470/t (approx. $2,749/t at a rate of ~98 RUB/USD), driven by local currency shifts and export restrictions.

The 304 stainless steel price remained broadly stable across most global regions during May 2025. While China showed mild upticks in HRC and scrap prices, most other markets remained flat, pointing to cautious optimism for June. International buyers are advised to monitor raw material cost fluctuations and currency shifts closely when planning procurement, as localized pricing dynamics and exchange rates will continue to play a key role in sourcing strategies.

Note: 
The prices listed above pertain to 304-grade stainless steel CRC, HRC, or scrap. In China, stainless steel benchmarks are based on Hongwang's 304 CRC and Tsingshan's 304 HRC, which reflect the spot prices in Wuxi, East China. For India, the pricing formula is: import price = local price x 1.085 (8.5% tariff) + 50 (clearance fee).

The price data and related pictures are sourced from:

• https://www.mysteel.net