China
India
United States
GermanyQ1 2025
The first quarter of 2025 opened with Chinese stainless steel HR plate prices experiencing a decline to $1856/MT, FOB Shanghai for the quarter as against $1873/MT, FOB Shanghai in Q4 2024, primarily attributed to post-holiday inventory adjustments and cautious buyer sentiment following the Chinese New Year period, as manufacturers worked through accumulated stock levels amid subdued immediate demand. The US market demonstrated resilience with modest price improvements, reflecting optimistic market sentiment driven by anticipated infrastructure spending and renewed industrial confidence in the new year. Germany maintained its positive trajectory with continued price strengthening, indicating robust European demand and stable supply conditions that supported buyer confidence. In contrast, the Indian market witnessed price corrections after sustained growth in previous quarters, suggesting a natural market adjustment as prices normalized following extended upward momentum. The quarter overall reflected a mixed global landscape with regional markets responding to their respective seasonal patterns and local economic conditions.
In Q4 2024, The fourth quarter of 2024 HR Plate presented a divergent picture across global stainless steel HR plate markets. Chinese prices showed upward movement after three quarters of stability, potentially reflecting seasonal demand patterns or supply-side adjustments. The US market experienced a reversal from its recovery trend, with prices declining despite earlier positive momentum, possibly due to inventory corrections or seasonal demand fluctuations. Germany saw price moderation after the strong gains in previous quarters, indicating market normalization and potential demand-supply rebalancing. India continued its steady upward trajectory with further price increases, demonstrating the market’s underlying strength and sustained demand growth. The quarter highlighted the regional variations in market dynamics as different economies responded to varying domestic and international factors.
The third quarter of 2024 HR Plate continued the positive momentum observed in the previous quarter, with most markets showing further price strengthening. China maintained its consistent pricing pattern, reflecting well-balanced market fundamentals and steady production levels. The US market sustained its recovery path with continued price improvements, driven by enhanced manufacturing activity and improved economic indicators. Germany recorded the most significant price gains during this period, indicating strong European demand and possible supply constraints. India followed the global trend with moderate price increases, supported by ongoing industrialization and construction sector growth. Q3 2024 represented a period of synchronized global market strengthening.
Q2 2024
The second quarter of 2024 SS HR Plate marked a period of gradual market recovery and stabilization across key regions. Chinese stainless steel HR plate prices remained remarkably stable, indicating mature market conditions and consistent demand patterns. The US market showed signs of recovery with modest upward price movements, suggesting improved industrial activity and restocking by end-users. Germany experienced notable price appreciation during this quarter, reflecting strengthening European demand and potential supply chain adjustments. The Indian market maintained its steady trajectory with slight price increases, supported by robust domestic consumption and infrastructure development activities. The quarter overall demonstrated improved market sentiment compared to Q1.
Q1 2024: The first quarter of 2024 witnessed a mixed performance across major stainless steel HR plate markets globally. The Chinese market maintained relative stability with minimal price fluctuations, reflecting steady domestic demand and controlled supply conditions. In contrast, the US market experienced significant downward pressure, with prices declining substantially from the previous quarter’s levels, indicating potential oversupply conditions or weakened industrial demand. Germany showed modest price corrections during this period, while the Indian market demonstrated resilience with marginal price changes, suggesting balanced supply-demand dynamics in the region. Overall, Q1 2024 reflected a period of market adjustment following the previous quarter’s trends.
Q1 2025
The first quarter of 2025 brought a price correction to India’s stainless steel HR plate market, with prices declining to USD 2256/MT, representing a decrease from USD 2262/MT from the previous quarter’s peak levels. This moderation followed the typical post-festive season adjustment pattern as demand normalized after the Q4 2024 consumption surge. Despite the quarterly decline, market fundamentals remained sound with sustained underlying demand from key industrial sectors. The price correction was viewed as a healthy market adjustment rather than a fundamental weakness, with industry participants maintaining cautiously optimistic outlook for the remainder of 2025 based on government infrastructure commitments and improving economic indicators.
Q4 2024
India’s stainless steel HR plate market concluded 2024 on a strong note, with prices reaching USD 2262/MT, marking a significant increase from Q3 2024 levels. This substantial price appreciation reflected peak demand conditions driven by year-end project completions and pre-buying activities ahead of anticipated price increases. The festive season consumption surge, combined with robust construction and manufacturing activities, created favourable market conditions. Strong export demand and limited domestic supply availability further supported the upward price momentum, positioning the Indian market as one of the best-performing regions globally during this period.
Q3 2024
The third quarter of 2024 sustained India’s positive market trajectory, with stainless steel HR plate prices advancing to USD 2238/MT, representing a gain from the previous quarter. This continued price appreciation reflected strong domestic consumption patterns and robust economic activity across multiple sectors. The festive season preparation drove additional demand from consumer goods and automotive sectors, while ongoing infrastructure development projects maintained steady consumption levels. Raw material cost pressures and supply chain optimization efforts also contributed to the price strengthening, indicating a well-balanced market environment with healthy demand-supply dynamics.
Q2 2024
India’s stainless steel HR plate market demonstrated recovery momentum in the second quarter of 2024, with prices rising to USD 2227/MT, marking an increase from USD 2220/MT from Q1 2024 levels. This upward movement signalled renewed market confidence as industrial activity picked up pace and infrastructure projects gained traction. The price recovery was supported by improved domestic demand from key consuming sectors including automotive, construction, and heavy engineering industries. Favorable monsoon predictions and government infrastructure spending commitments further bolstered market sentiment, creating a positive environment for sustained demand growth.
Q1 2024
The first quarter of 2024 witnessed a marginal decline in India’s stainless steel HR plate market, with prices settling at USD 2220/MT, down from Q4 2023. This modest price correction reflected typical post-festive season adjustments as demand normalized following the December holiday period. The Indian market demonstrated resilience despite global economic uncertainties, with the decline primarily attributed to temporary inventory corrections and cautious purchasing patterns among end-users. Manufacturing sectors showed steady demand, while construction activities maintained their momentum, providing underlying support to the market fundamentals.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Stainless steel hot rolled (HR) plate is a flat-rolled product manufactured by hot rolling stainless steel slabs at high temperatures. This process produces plates with excellent mechanical strength, good weldability, and uniform surface finish, making them suitable for structural, industrial, and fabrication applications.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Grade | 304 |
| Standard | ASTM A240 / ASME SA240, EN10088-2 |
| Thickness | 4 mm – 100 mm |
| Width | 1000 mm, 1219 mm, 1250 mm, 1500 mm, 1800 mm, 2000 mm, up to 2500 mm |
| Tensile Strength | 515 MPa min |
| Yield Strength | 205 MPa min |
| Hardness | Typically, 160–190 HB |
| Density | 7.9 g/cm³ |
| Chemical Composition | Example for 304: Cr 18–20%, Ni 8–10.5%, C ≤ 0.08%, Mn ≤ 2%, Si ≤ 1%, P ≤ 0.045%, S ≤ 0.03% |
Applications
These events underscore the stainless steel HR plate market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
Plant-level visibility is your secret weapon against production delays. Our Downtime Monitor tracks what’s happening inside facilities—so you can respond fast, reduce risk, and plan better.
What You’ll Access
Why It Matters
One hour of unplanned downtime can cost thousands—or more. We give you the intelligence to spot it, solve it, and prevent it.
PriceWatch is your trusted resource for tracking global stainless steel hr plate price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the stainless steel hr plate market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence stainless steel hr plate prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely stainless steel hr plate market data.
Track PriceWatch's stainless steel hr plate price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable stainless steel HR plate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Stainless steel hot rolled (HR) plate is a flat-rolled product manufactured by hot rolling stainless steel slabs at high temperatures. This process produces plates with excellent mechanical strength, good weldability, and uniform surface finish, making them suitable for structural, industrial, and fabrication applications.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Grade | 304 |
| Standard | ASTM A240 / ASME SA240, EN10088-2 |
| Thickness | 4 mm – 100 mm |
| Width | 1000 mm, 1219 mm, 1250 mm, 1500 mm, 1800 mm, 2000 mm, up to 2500 mm |
| Tensile Strength | 515 MPa min |
| Yield Strength | 205 MPa min |
| Hardness | Typically, 160–190 HB |
| Density | 7.9 g/cm³ |
| Chemical Composition | Example for 304: Cr 18–20%, Ni 8–10.5%, C ≤ 0.08%, Mn ≤ 2%, Si ≤ 1%, P ≤ 0.045%, S ≤ 0.03% |
Applications
The price of Stainless-Steel HR plate (SSHR) is influenced by several key factors, including:
1. Raw Material Costs
Prices of Nickel, Chromium, and Iron fluctuate based on market demand and supply.
Nickel is especially volatile and significantly impacts SS 304 pricing.
2. Market Demand and Supply
High demand from industries like construction, automotive, and manufacturing raises prices.
Supply chain disruptions (e.g., raw material shortages, logistics issues) can increase costs.
3. Production Costs
Energy costs, including electricity and fuel for steel production.
Labor costs in manufacturing and processing.
Technology and automation level in the production process.
4. Global Economic Conditions
Inflation, interest rates, and currency exchange rates impact raw material imports and pricing.
Trade policies, tariffs, and duties imposed by different countries.
5. Quality and Specifications
Grade of steel (e.g., 304, 316, 430) affects cost due to different compositions.
Thickness, width, and surface finish (No.1, 2B, HRAP) also determine price.
6. Freight and Logistics Costs
Transportation costs for shipping raw materials and finished coils.
Availability of containers and shipping routes.
7. Government Regulations and Taxes
Import/export duties, anti-dumping duties, and environmental compliance costs.
Certification requirements (ISO, ASTM) affecting production expenses.
8. Seasonal and Regional Variations
Prices may fluctuate based on regional demand-supply dynamics.
Seasonal demand from industries like construction can cause price hikes.
PriceWatch, a leading procurement intelligence firm, offers a comprehensive suite of tools and services to help you effectively track Stainless Steel HR plate prices.
Some of the key benefits of using PriceWatch include:
Real-time Data: Access to up-to-date market intelligence and data on commodity supply chains.
Expert Analysis: Insights from industry experts to interpret market trends and identify potential risks.
Risk Assessment: Tools to assess supply chain vulnerabilities and develop mitigation strategies.
Benchmarking: Comparisons of Stainless-Steel HR plate prices and sourcing practices to optimize procurement decisions.
Supplier Intelligence: Detailed information on suppliers, including their financial health, production capacity, and sustainability practices.
Copyright 2025. All rights reserved. Nidhyana Price Watch Data Analytics Private Limited