Weekly Stainless Steel Market Update: Prices Edge Up as Demand Signals Improve
This week, stainless steel prices showed a mild upward trend across selected grades, supported by improving futures sentiment and stabilizing raw material costs. While the market remains in a traditional off-season, trading activity has shown early signs of recovery.
At Ganyeah Group, we closely track stainless steel price movements and upstream cost trends to help global customers plan procurement more effectively.
Stainless Steel Price Overview – Wuxi Market
In the Wuxi stainless steel market, mainstream 304 prices edged higher:
- 304 cold rolled (TISCO): RMB 13,400/ton
- 304 cold rolled 2.0 mm (Hongwang): RMB 12,850/ton
- 304 hot rolled 4.0 mm: RMB 12,350/ton
The price adjustment was relatively modest, reflecting cautious optimism rather than aggressive buying. End users remain price-sensitive, and spot transactions are still driven by real demand rather than speculation.
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200 Series Stainless Steel: Limited Downside for 201
In the 200 series stainless steel segment, 201 stainless steel prices fluctuated within a narrow range during the week.
After a short-term rebound in futures prices, the downside risk for 201 appears limited. However, most downstream buyers are maintaining a wait-and-see approach, closely monitoring market direction before restocking. Actual volumes remain the key indicator to watch in the coming weeks.
Raw Material Market Analysis
High-Nickel Pig Iron (NPI)
The high-nickel pig iron (NPI) market remained weak but stable:
- Domestic ex-factory price: RMB 885–890/mtu (per nickel unit)
- Domestic delivered-to-mill price: RMB 890–895/mtu
Supply and demand negotiations have intensified, with neither side showing strong pricing power. As a result, nickel pig iron prices are expected to stay range-bound in the short term, limiting cost pressure for stainless steel mills.
High-Carbon Ferrochrome
The high-carbon ferrochrome market continued to run firm:
- Spot availability remains tight
- Stainless steel mills are actively building inventories toward year-end
- Supply growth has been relatively slow, creating a short-term supply gap
Notably, TISCO announced its January 2026 long-term contract price for high-carbon ferrochrome at RMB 7,995 per 50-base ton, down RMB 200 month-on-month. Despite this adjustment, overall market fundamentals remain supportive.
Market Outlook: Limited Upside Despite Improving Sentiment
Looking ahead to next week, stainless steel futures are expected to move lower first and then rebound, supported by:
- Improved macro sentiment following U.S. Federal Reserve rate cuts
- New import and export policy signals stimulating demand expectations
- Gradual improvement in spot market transactions
That said, the stainless steel industry is still in a seasonal demand lull, which is likely to cap further price increases in the near term. Any upward movement is expected to be measured rather than sharp.
Ganyeah Group Market Perspective
As a professional supplier of stainless steel pipes, tubes, and industrial stainless steel products, Ganyeah Group remains committed to providing stable pricing, transparent market insights, and flexible supply solutions.
By aligning procurement strategies with stainless steel price trends, raw material movements, and macroeconomic signals, we help customers reduce cost risks and secure reliable material supply—even during volatile market conditions.