Asia
In Asia, stainless steel (304) prices displayed mixed momentum during Q1’26 as improving steel mill operations and tighter raw material sentiment supported the market despite weak seasonal demand. Chinese stainless steel producers increased operating activity in March following slower production during the Lunar New Year period, while cautious downstream procurement from construction and appliance sectors restricted stronger gains. Indonesian ore quota controls and concerns over intermediate raw material availability continued supporting production costs across the Asian stainless steel chain. Export competition from China also remained elevated due to slower domestic consumption and softer regional manufacturing activity, while buyers largely maintained need-based purchasing strategies during the quarter.
Europe
European stainless steel (304) markets remained comparatively subdued during Q1’26 because of weak industrial activity, slower automotive production, and cautious distributor purchasing. Buyers largely focused on essential procurement while high inventories and competitive Asian imports pressured regional mill margins. Volatile feedstock conditions and continued concerns over Indonesian production controls influenced market sentiment throughout the quarter. Limited downstream support from construction and manufacturing sectors prevented stronger stainless steel demand recovery, although supply-side discipline by European mills helped stabilize regional availability.
North America
North American stainless steel (304) prices strengthened during Q1’26 amid improved mill pricing power and higher domestic procurement activity. The prices were ~USD 2241.43/MT (Spot, (9% Min Ni)) in March. Last quarter prices increased by ~17.6% quarter-on-quarter compared to the average prices recorded during Q4’25. The regional market benefited from controlled domestic supply and stable industrial demand from machinery, energy, and fabrication sectors. Stronger mill operating rates and steady infrastructure-related consumption supported procurement activity despite cautious broader industrial purchasing trends.
Analyst Insight
According to Procurement Resource, stainless steel (304) prices are expected to remain stable to firm as feedstock cost support and controlled production levels continue balancing cautious downstream demand across major global markets.
Get real-time price assessments, periodic trends, forecasts and price driver insights across key global markets.
Unlock Price Insights NowOur Clients
Turn price intelligence into action with the Procurement Resource Database. Log in or subscribe to unlock live price trends, historical charts, supplier databases, cost curves, and analyst-backed insights across chemicals, agriculture, energy, packaging, and more. Use these tools to benchmark your contracts, plan budgets with confidence, and stay ahead of market moves on every product you buy.
0
+Products
0
+Regions
0
+Subscriptions
| Product | Category | Region | Price | Last Updated Month |
| Stainless Steel (304) | Energy, Metals and Minerals | North America | 1,920 USD/MT | October 2025 |
| Stainless Steel (304) | Energy, Metals and Minerals | North America | 1,886 USD/MT | December 2025 |
Stay updated with the latest Stainless Steel (304) prices, historical data, and tailored regional analysis
Asia
The Asian stainless steel (304) market during the fourth quarter experienced downward price movement. The anticipated traditional peak season failed to materialize, with demand from key consuming sectors remaining subdued. Raw material markets contributed to bearish sentiment, with ferronickel prices maintaining weak stability while ferrochrome supply remained ample, limiting cost support for finished products. Production levels stayed elevated despite weakening demand signals, as steel mills maintained high operating rates even amid compressed margins. The automotive sector showed moderate growth without acceleration, while home appliance orders demonstrated only modest improvement. Market transactions remained thin as downstream users adopted cautious positions, purchasing minimal quantities based on immediate needs. Social inventory levels initially declined but began accumulating again as demand recovery stalled, creating persistent pressure throughout the quarter.
Europe
European stainless steel (304) markets during the fourth quarter mirrored the downward trajectory observed in Asian markets, experiencing gradual price erosion as similar fundamental challenges emerged. Supply conditions remained adequate while demand from manufacturing, construction, and consumer goods sectors showed limited vitality. Raw material cost pressures eased as nickel and chrome feedstock markets faced weakening fundamentals, reducing support for finished product pricing. Industrial consumption patterns reflected broader economic uncertainties, with end-users maintaining conservative procurement strategies and avoiding inventory accumulation. The traditional seasonal patterns failed to provide expected demand boosts, with buying activity remaining constrained. Market participants focused on managing existing stock positions rather than forward purchases, contributing to the persistent downward price bias throughout the period.
North America
North American stainless steel (304) markets demonstrated gradual downward price movement during the fourth quarter, declining steadily from early autumn through year-end. The prices were about 1920 USD/MT (Spot, 9% Min Ni) in October and around 1886 USD/MT in December in the United States of America. The market absorbed weakening global price signals while navigating domestic supply-demand considerations. Manufacturing activity across automotive, appliance, and construction sectors provided modest consumption support though insufficient to reverse the prevailing downward trend. Domestic production maintained operational stability while adjusting to softer demand conditions. Trade flows responded to evolving price differentials across regions, with import competition maintaining pressure on domestic pricing structures. Distributor inventory management emphasized turnover efficiency rather than speculative positioning, reflecting cautious market sentiment that persisted throughout the quarter.
Stainless steel (304) is also known as 18-8 stainless steel which is widely employed in the austenitic stainless-steel alloy. It is primarily composed of iron, chromium, and nickel with trace amounts of manganese and silicon. It has excellent corrosion resistance and is popularly employed in applications which involve exposure to moisture, chemicals, or acidic environments. It is also non-magnetic, versatile, and easy-to-fabricate and thus is used in industries such as food processing. Architecture, medical equipment, transportation, and several other related fields.
Transportation, Textile industry, Mining and quarrying, Petroleum industry, Oil and gas
Acerinox S.A., Aperam Stainless, ArcelorMittal, Baosteel Group, Jindal Stainless, Nippon Steel Corporation, POSCO, ThyssenKrupp Stainless GbH, Yieh United Steel Crop
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
Post-Sale Analyst Support360-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.
Team Lead - Market Research
Leading procurement-focused market intelligence across chemicals, composites, advanced materials, aerospace & defense, and energy, delivering commodity forecasts, supply chain analysis, and competitive benchmarking to support sourcing decisions.
Our Price Analysis Methodology
Experience how Procurement Resource transforms raw material price data into clear, decision ready intelligence. Optimise your performance with reliable, expert market data and analysis. Schedule your demo today to experience a live walk-through where our experts will showcase interactive price charts, forecasted prices, and insights driving the prices for your key commodities, tailored to your workflows. Contact us now!
Our Team will be happy to assist you
We are just a text away
Still Need Help?
The study offers a detailed cost analysis of Stainless Steel Production from Steel Scrap. In addition, the report incorporates the manufacturing process with detailed process and material flow, operating costs along with financial expenses and depreciation charges.
The Study Offers a Detailed Cost Analysis of Stainless Steel Production Via Electric Arc Furnace. In Addition, the Report Incorporates the Manufacturing Process With Detailed Process and Material Flow, Operating Costs Along With Financial Expenses and Depreciation Charges.
Unlock full access to Procurement Resource's price databases, interactive charts, and short-term forecasts for thousands of commodities. Elevate your sourcing decisions by comparing prices across regions, downloading historical data, and layering in analyst-backed insights, all with our flexible plans that scale as your portfolio grows.
Still have any Questions
Contact Us
Price Trend Dashboard - What's Included
Price trends across a diverse portfolio of categories and products, spanning board to niche chemicals
Coverage extendable to grade-specific chemicals based on procurement requirements
Regular price tracking supported by robust historical datasets
News, policy updates, and key market drivers impacting price movements
Short-term and long-term price outlooks and forecasts
Supply-demand dynamics and capacity-driven market analysis
Track prices, market movements, supply-demand dynamics, and industry developments across hundreds of commodities through a centralized intelligence platform built for informed procurement decisions.
Understand market fluctuations using analyst-backed forecasts, historical pricing patterns, and evolving industry trends to strengthen sourcing strategies and budget planning.
Leverage cost models, pricing benchmarks, and procurement insights to evaluate purchasing opportunities, improve negotiations, and enhance operational efficiency.
Access region-specific price trends, trade activities, capacity changes, and supply chain developments influencing commodity markets worldwide.
