[SMM Stainless Steel Flash] India 316-Grade Stainless Prices Hikes Again on Rising Ferro Molybdenum Costs

Published: Aug 26, 2026 13:41

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A leading Indian stainless steel producer raised 316-grade HR and CR coil prices by a further INR 4,000/t effective August 25, marking another upward revision for the grade this month. The hike was driven by sustained ferro molybdenum cost increases — FeMo 60% prices reached approximately INR 4,359,000/t on August 21, up INR 49,000/t from August 5 and approximately INR 322,000/t (8%) above the July 3 level of INR 4,037,000/t. India's domestic flat market remains firm, supported by steady downstream demand and subdued imports due to elevated freight costs and geopolitical uncertainties. Current benchmark prices stand at INR 219,000/t for 304 HRC and INR 418,000/t for 316 HRC. Near-term pricing direction will hinge on ferro molybdenum price movements and the extent of downstream buyer resistance to the latest increases.

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