[SMM Stainless Steel Flash] India's Leading Stainless Producer Announces Second Coil Price Hike in August

Published: Aug 17, 2026 10:16

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A leading Indian stainless steel producer raised domestic HR and CR coil prices effective August 14, its second revision in August. Increases by grade: 304 HR increases INR 1,000/t, 316L HR/CR increases INR 3,000/t, 200-series CR increases INR 1,000/t, and all HR grades in 1,301–1,500mm width increases INR 2,000/t. The hike was driven by persistently higher ferro molybdenum costs and volatile nickel prices amid ongoing uncertainty over Indonesia's revised RKAB mining quotas. India's domestic market remained firm with improving downstream demand, while subdued imports due to higher freight rates and geopolitical tensions reinforced buyers' reliance on domestic material. In China, weak futures sentiment weighed on spot prices, with RKAB uncertainty, hawkish Fed signals, and US-Iran tensions keeping sentiment bearish, though stable inventories and firm NPI costs provided a price floor, pointing to a weak-to-stable consolidation phase near term.

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