{"id":73563,"date":"2026-07-25T13:16:22","date_gmt":"2026-07-25T07:16:22","guid":{"rendered":"https:\/\/biztrend24.com\/?p=73563"},"modified":"2026-07-25T13:16:22","modified_gmt":"2026-07-25T07:16:22","slug":"india-stainless-steel-scrap-market-stays-firm-as-higher-nickel-supports-sentiment","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=73563&lang=en","title":{"rendered":"India: Stainless steel scrap market stays firm as higher nickel supports sentiment"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Domestic scrap preferred over costlier imported material<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Stronger US dollar limits fresh import bookings<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>India&#8217;s stainless steel scrap market remained firm in the week ended 24 July, supported by a 3% w-o-w rise in LME nickel prices to $17,420\/t. However, trading activity remained subdued as stainless steel mills continued to procure only on a need basis, preferring domestic scrap over imports due to its lower cost. A stronger US dollar and currency-related risks further discouraged import bookings.<\/p>\n<p>According to BigMint&#8217;s assessment, domestic 304-grade stainless steel scrap prices edged up by INR 2,000\/t to INR 137,000\/t DAP Delhi, while 316-grade scrap increased by INR 2,000\/t to INR 274,000\/t DAP Delhi, supported by stronger ferro molybdenum prices.<\/p>\n<p>Imported 304-grade nearshore scrap remained unchanged at $1,450\/t CFR Mundra, while 316-grade scrap held steady at $2,860\/t CFR Mundra. Imported 430-grade and 201-grade scrap were also unchanged at $600\/t and $690\/t CFR Mundra, respectively.<\/p>\n<p>Bid-offer gap limits transactions:<\/p>\n<p>Market participants reported limited trading as buyers and suppliers remained apart on workable price levels. While domestic prices remained relatively stable, imported offers strengthened following gains in nickel and alloy markets.<\/p>\n<p>Meanwhile, LME nickel inventories declined 2% w-o-w to 268,548 t, while ferro molybdenum (Mo:60%) prices increased by INR 116,000\/t to INR 4,265,000\/t ex-works, providing additional support to 316-grade scrap, which continued to outperform 304-grade material.<\/p>\n<p>A trader source noted European scrap prices were quoted at around $1,440\/t for 304 scrap and $2,850\/t for 316 grade scrap. While ex-mill prices were heard quoted at $1,525 for 304 and $2,925\/t for 316 scrap.<\/p>\n<p>Global market update:<\/p>\n<p>China&#8217;s stainless steel scrap market remained firm during the week, with 304-grade stainless steel scrap off-cut prices in east China assessed at RMB 10,400-10,500\/t, while Foshan prices stood at RMB 10,300-10,600\/t. Stronger stainless steel spot prices and stable high-grade NPI prices supported the market. However, weak off-season demand, cautious mill procurement, and the narrowing cost advantage of scrap over NPI limited buying activity, with transactions largely confined to need-based purchases. The market is expected to remain range-bound in the near term with limited upside.<\/p>\n<p>Outlook:<\/p>\n<p>India&#8217;s stainless steel scrap market is expected to remain stable to firm in the near term as mills gradually resume procurement ahead of festive-season demand. However, purchasing is likely to remain measured, with participants closely tracking movements in LME nickel, the US dollar, and domestic finished stainless steel demand before taking fresh positions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Domestic scrap preferred over costlier imported material Stronger US dollar limits fresh import bookings India&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":73564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[313],"tags":[],"class_list":["post-73563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iron-steel"],"jetpack_publicize_connections":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=1280%2C720&ssl=1?v=1784963766",1280,720,false],"thumbnail":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?resize=150%2C150&ssl=1?v=1784963766",150,150,true],"medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=300%2C169&ssl=1?v=1784963766",300,169,true],"medium_large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=640%2C360&ssl=1?v=1784963766",640,360,true],"large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=640%2C360&ssl=1?v=1784963766",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=1280%2C720&ssl=1?v=1784963766",1280,720,true],"2048x2048":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=1280%2C720&ssl=1?v=1784963766",1280,720,true],"covernews-slider-full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?resize=1115%2C715&ssl=1?v=1784963766",1115,715,true],"covernews-slider-center":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?resize=800%2C500&ssl=1?v=1784963766",800,500,true],"covernews-featured":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=1024%2C576&ssl=1?v=1784963766",1024,576,true],"covernews-medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?resize=540%2C340&ssl=1?v=1784963766",540,340,true],"covernews-medium-square":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?resize=400%2C250&ssl=1?v=1784963766",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"<a href=\"https:\/\/biztrend24.com\/?cat=313&#038;lang=en\" rel=\"category\">Iron &amp; Steel<\/a>","tag_info":"Iron &amp; Steel","comment_count":0,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-77-5.jpg?fit=1280%2C720&ssl=1?v=1784963766","jetpack-related-posts":[{"id":72597,"url":"https:\/\/biztrend24.com\/?p=72597&lang=en","url_meta":{"origin":73563,"position":0},"title":"India: Stainless steel scrap offers edge up w-o-w on firmer nickel, buyers prefer domestic material","author":"Biz Trend 24","date":"July 19, 2026","format":false,"excerpt":"Bid-offer disparities, monsoon disruptions keep bookings limited Domestic scrap continues to attract buyers due to competitive prices India's stainless steel scrap market remained firm during the week ended 17 July, supported by higher London Metal Exchange (LME) nickel prices and firmer imported offers. However, buying activity remained largely need-based as\u2026","rel":"","context":"In &quot;Iron &amp; Steel&quot;","block_context":{"text":"Iron &amp; Steel","link":"https:\/\/biztrend24.com\/?cat=313&lang=en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-19T162857.651.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-19T162857.651.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-19T162857.651.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-19T162857.651.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-19T162857.651.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":68226,"url":"https:\/\/biztrend24.com\/?p=68226&lang=en","url_meta":{"origin":73563,"position":1},"title":"India: 304 grade scrap prices drop w-o-w following volatility in LME nickel prices, low demand","author":"Biz Trend 24","date":"June 13, 2026","format":false,"excerpt":"304 scrap prices ease amid bearish nickel sentiment Import market remains slow as bid-offer gap persists India's stainless steel scrap market recorded mixed trends in the week ended 12 June 2026, as participants navigated bearish nickel sentiment, rising freight costs, and ongoing global supply concerns. 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