What is the Latest Stainless Steel Price?

Stainless steel is an important material in most industrial and domestic applications.

Therefore, any fluctuation in the price of stainless steel directly affects most economies. From stainless steel fabrication companies to consumers – they both feel the impact.

Whether you quote the price as:

i. Stainless steel price per pound

ii. Stainless steel price per kg or,

iii. Stainless steel price per ton

There are fundamental factors affecting the latest stainless steel prices.

Let’s look at some underlying factors:

Table of Contents

Stainless Steel Alloying Elements

Stainless steel is an alloy containing other elements such as nickel, molybdenum, manganese, etc. Any change in these alloying elements’ prices directly affects the cost of stainless steel.

Take, for instance, the fluctuations in the stainless steel prices witnessed in 2022 were mainly due to nickel.

According to AMG Metal Miner:

Q1 2022, nickel was 1.8% higher
Q2 2022, nickel began to stabilize after reaching 25.1% higher
Q3 2022 the prices dropped by 9.55% and later 8.86% by August
Q4 2022, prices increased by 3.35% and later 7.3% by December

All these changes directly affected the stainless steel prices.

Fundamentally, you must examine the market trends and prices, especially for the alloying elements in stainless steel. The key alloys include nickel, molybdenum, and chromium.

Stainless Steel Surcharges

Surcharges are additional costs manufacturers add to the base prices of stainless steel materials. Normally, the stainless steel alloy surcharges depend on these key elements:

Nickel
Molybdenum
Manganese
Chromium
Iron

However, both manganese and iron do not have a significant impact on the stainless steel surcharge rate.

In most cases, the surcharge will vary from one stainless steel manufacturer to another.

At times, a mill will negotiate with customers individually may be to save them from price volatility.

Let’s look at a possible scenario in the U.S.:

In North America, the surcharge for 304 SS flat products may increase to 2950 USD per tonne in January, 2023. On the other hand, the 316 SS flat product may jump to 4480 USD per tonne.

Of course, these had been attributed to the increasing prices in ferrous scrap, nickel, and molybdenum.

Furthermore, if the situation in the U.S. remains the same for these alloying elements through January 2023, the prices may increase by 200 to 300 USD per tonne.

Cost of Producing Stainless Steel Grade

Certain stainless steel grades may require special production requirements. As a result, the price can be slightly higher.

A good example is the 400 stainless steel. During the production process, you will require more time to melt raw material in the furnace.

Of course, this is not the same scenario in the 304 stainless steel. As a result, you will expect to pay more for 400 stainless steel grade.

Extras on Stainless Steel

They may include:

Specific surface finish
Packaging
Thickness

Again, these will also dictate the price of stainless steel. If you want stainless steel to have more “extras”, you will pay more for product. In fact, stainless steel finishes play an integral role in the current market prices.

Stainless Steel Scrap Prices

Stainless steel is a sustainable material. Therefore, we recycle used stainless steel to make new products.

Therefore, stainless steel scrap metal prices also play significant in the pricing. When the scrap prices are high, expect to pay more for the stainless steel.

Stainless Steel Scrap Metal Prices in the U.S.A.

When it comes to stainless steel scrap prices, the prices vary depending on the region. Take for example in the USA:

Highest yearly price is about 0.82 USD per pound
Lowest is about 0.2 USD per pound
On average the price is about 0.48 USD per pound

Let’s have a quick analysis of:

Stainless Steel Plate Prices

For this particular case, we will analyze different prices in various regions:

Period

Asia

North America

Europe

Q1, 2022

· Mid- January: 17,973 RMB/MT

· February: 19,133 RMB/MT

· March: 19,270 RMB/MT

· January: 1,480 USD/MT

· February: prices increased from 60 to 100 USD/MT

· March: Stainless steel surcharge at 1.3 USD/lb. It was the highest.

· 1700 to 1800 GBP/MT

· March there 1% increase in prices due to global disruptions due to the war between Ukraine and Russia

Q4, 2022

· 3244 USD per MT

· 4300 USD per MT

· 3380 USD per MT

Furthermore, a quick look at stainless steel prices on Alibaba suppliers (Date January 20, 2023). The stainless steel roll for grades 201, 304, 316, and 430, the prices are as follows