From March 18 to March 26, 2025, the global market for 304-grade stainless steel continues to experience fluctuations, influenced by demand, production costs, and regional economic conditions. The latest price trends show varying movements across different regions for Cold Rolled Coil (CRC), Hot Rolled Coil (HRC), and Scrap.

Chinese Mainland

• CRC: 13,600 Yuan/t (Stable) (≈ $1,900 based on exchange rate 1 USD = 7.16 CNY)

• HRC: 13,050 Yuan/t (Down by 50 Yuan) (≈ $1,823)

• Scrap: 10,100 Yuan/t (Down by 100 Yuan) (≈ $1,411)

• The price stability in CRC reflects steady demand, while HRC and scrap prices show slight declines.

Taiwan

• CRC: $1,985/t (Up by $20)

• HRC: $1,863/t (Up by $14)

• Taiwan’s incremental increase suggests a positive market sentiment and a gradual price recovery.

South Korea

• CRC:

  • Prime: $2,430/t (Up by $40)

  • GS: $2,165/t (Up by $40)

• South Korea maintains a competitive pricing structure with an upward trend.

Vietnam

• CRC: $1,835/t (Up by $15)

• HRC: $1,759/t (Up by $21)

• The Vietnamese market sees steady growth, driven by increased industrial demand.

Malaysia

• CRC: $2,270/t (Up by $20)

• HRC: $1,960/t (Up by $30)

• Growth in Malaysia is aligned with broader Southeast Asian trends.

Thailand

• CRC: $2,140/t (Up by $40)

• HRC: $1,950/t (Up by $20)

• Thailand’s market continues to grow, reflecting strong domestic and export demands.

Үндістан

• CRC: $2,015/t (Stable)

• Indian prices are impacted by import duties, calculated as: local price × 1.085 (8.5% tariff) + $50 clearance fee.

Middle East

• CRC: $1,900/t (Stable)

• The region remains steady with no significant price fluctuations.

Turkiye

• CRC: $2,370/t (Up by $20)

• A slight increase indicates moderate market growth.

Europe

• CRC: €2,600/t (Stable) (≈ $2,812 based on exchange rate 1 EUR = 1.08 USD)

• Scrap: €1,290/t (Up by €40) (≈ $1,393)

• European markets remain stable with minor increases in scrap prices.

North America

• CRC: $2,870/t (Up by $20)

• Scrap: $1,310/t (Up by $30)

• North American prices remain strong, reflecting a resilient market.

South America

• CRC: $2,343/t (Stable)

• HRC: $1,834/t (Stable)

• No significant price changes indicate a balanced market.

Russia

• CRC: 293,980 RUB/t (Stable) (≈ $3,140 based on exchange rate 1 USD = 93.6 RUB)

• HRC: 261,920 RUB/t (Down by 2,150 RUB) (≈ $2,798)

• Russia sees a significant drop in HRC prices, potentially due to local market dynamics.

Key Takeaways

• • Stable Growth: The global 304 stainless steel market remains largely stable, with minor upward trends in most regions.

  • Asia Leading: Asian markets, particularly South Korea, Thailand, and Vietnam, show consistent price increases.

  • Scrap Price Variability: Scrap prices fluctuate across different regions, with notable increases in Europe and North America.

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 is sourced from:

• https://www.mysteel.net