[SMM Stainless Steel Flash] India's Leading Stainless Producer Raises August Coil Prices on Higher Alloy Costs

Published: Aug 13, 2026 10:23

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According to SMM, a leading Indian stainless steel producer raised domestic hot and cold rolled stainless steel coil prices effective August 10, its first revision this month. Price increases by grade: 304-series increases INR 2,000/t, 316L-series increases INR 3,000/t, 200-series HRC increases INR 1,500/t, 200-series CRC and 400-series increases INR 1,000/t each. The hike was primarily driven by rising ferro molybdenum costs, with FeMo 60% prices up 2% week-on-week, alongside volatile nickel prices amid ongoing uncertainty over Indonesia's revised nickel mining quotas. Healthy domestic demand prompted the producer to revoke discounts on some products, while tight availability of certain grades provided additional pricing support. Imports remained subdued as domestic material is currently more competitively priced, sustaining local procurement preference. Near-term price direction will hinge on nickel price movements and the outcome of Indonesia's nickel mining quota review.

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