The 304 stainless sheet price remains a critical factor for purchasing professionals, fabricators, and manufacturers across food processing, construction, and industrial sectors. As the most widely used austenitic stainless steel grade globally, 304 sheet pricing reflects broader commodities markets, geopolitical trade dynamics, and the volatile costs of key raw materials—particularly nickel and chromium. This comprehensive guide examines current pricing, regional variations, historical trends, and forward-looking strategies for cost-effective procurement.
Product Overview
Grade Designation & Standards
Type 304 stainless steel is the industry workhorse among austenitic grades, commonly referenced as “18/8” stainless—denoting its approximate composition of 18% chromium and 8% nickel. This alloy conforms to multiple international standards:
- ASTM A240 / ASME SA-240 (United States) – Plate and sheet for pressure vessels and general industrial use
- EN 10088-1 / EN 1.4301 (Europe) – Austenitic stainless steels; equivalent to DIN 17440
- JIS G4305 / SUS 304 (Japan) – Hot-rolled or cold-rolled stainless steel sheets and plates
- GOST 5632 (Russia/CIS) – Corrosion-resistant and heat-resistant steels
- UNS S30400 (Unified Numbering System)
The low-carbon variant, 304L (UNS S30403), contains ≤0.03% carbon versus ≤0.08% for standard 304, offering improved weldability and resistance to sensitization during welding.
Chemical Composition
Typical 304 sheet composition (% by weight):
| Element | Min | Max |
|---|---|---|
| Chromium (Cr) | 17.5 | 19.5 |
| Nickel (Ni) | 8.0 | 11.0 |
| Manganese (Mn) | – | 2.0 |
| Silicon (Si) | – | 1.0 |
| Carbon (C) | – | 0.08 |
| Phosphorus (P) | – | 0.045 |
| Sulfur (S) | – | 0.030 |
| Iron (Fe) | Balance | – |
Key Mechanical Properties
Per ASTM A240, typical values at room temperature:
| Property | Minimum |
|---|---|
| Tensile Strength | 515 MPa (75 ksi) |
| Yield Strength (0.2% offset) | 205 MPa (30 ksi) |
| Elongation in 50 mm | 40% |
| Hardness (Rockwell B) | 92 HRB (annealed) |
| Density | 8.0 g/cm³ |
| Modulus of Elasticity | 193 GPa (28,000 ksi) |
Commercial Dimensions & Available Forms
304 sheet is produced in a range of sizes and finishes to accommodate diverse industrial needs. Typical dimensions include:
- Thickness: 0.5 mm to 3.0 mm (coil); heavier plate up to 50+ mm
- Width: Up to 1500 mm cold-rolled coil; custom widths available
- Length: Coil form (continuous) or cut lengths up to 2500 mm+
- Surface finishes: 1D (hot-rolled, as-rolled); 2D (cold-rolled, annealed); 2B (cold-rolled, annealed, descaled—most common); BA (bright annealed); #3 (brushed); #4 (polished); mirror finish
Primary Applications & Industries
304 sheet’s corrosion resistance, formability, and weldability make it the material of choice across multiple sectors:
- Food & Beverage: Sinks, work surfaces, tanks, processing equipment (non-chloride environments)
- Architecture & Construction: Interior wall cladding, decorative trim, facade panels, building hardware
- Kitchen Equipment: Commercial cooking appliances, ventilation systems, countertops
- Chemical & Pharmaceutical: Mild chemical handling, equipment tanks, piping
- Transportation: Exhaust systems (non-marine), architectural trim
- HVAC & Plumbing: Ductwork, condensate pans, water-service fittings
- Medical & Sanitary: Surgical instruments, sterilization equipment bases
- Automotive: Trim, badging, decorative components
Global Price per Kilogram: Current Snapshot
Latest International Spot Prices (November 2025)
As of mid-2025, 304 stainless sheet pricing reflects stabilization following volatility in 2023–2024. Current spot ranges by product form:
- Hot-Rolled Coil (HRC): USD 1,755–1,875/metric ton (~USD 1.76–1.88/kg)
- Cold-Rolled Coil (CRC): USD 1,900–2,100/metric ton (~USD 1.90–2.10/kg)
- Cold-Rolled Prime Sheet: USD 2,030–2,200/metric ton (~USD 2.03–2.20/kg)
- Cut Sheet (small volumes): USD 2.50–3.50/kg
Key Price Drivers (November 2025):
- Nickel LME spot hovering near USD 15,200–15,400/ton
- Chromium Ferrochrome index around USD 1.80–2.10/lb
- Energy costs in Europe and Asia remain elevated
- Tariff policies (US, EU) adding 5–12% premiums to certain routes
Reputable Market Sources & Latest Quotations
- CRU (Commodity Research Unit) – London
- Publishes monthly 304 stainless sheet indices for Asia, Europe, North America
- Reference: CRU Stainless Steel Price Index (November 2025)
- Argus Media – Metals & Mining
- Daily quotations for stainless sheet FOB East China (Wuxi/Shanghai)
- URL: argus.com
- Source: Argus Stainless Steel Bulletin, November 5, 2025
- S&P Global Platts (now part of S&P Global Commodity Insights)
- Platts Stainless Steel Daily (published daily, Asian trading hours)
- Covers CRC, HRC, and flat coil pricing across regions
- Reference: Platts, November 2025
- SMM (Shanghai Metals Market)
- Real-time Chinese domestic 304 sheet and coil prices
- URL: smm.cn
- Benchmark for Asian market reference
- MEPS International (now acquired by Mysteel)
- Weekly European stainless sheet assessments
- Covers Outokumpu, Aperam, Acerinox mill pricing
- Reference: MEPS Weekly Report, Week 45 2025
CIF Premiums to Major Import Hubs
Delivered pricing (CIF – Cost, Insurance, Freight) varies by origin and destination:
| Port of Destination | CIF Premium (from China origin) | Typical Landed Price |
|---|---|---|
| Rotterdam (ARA) | +USD 120–180/ton | USD 2,050–2,280/ton |
| Los Angeles (USWC) | +USD 140–200/ton | USD 2,070–2,300/ton |
| Shanghai (China) | 0 (baseline FOB) | USD 1,900–2,100/ton |
| Singapore | +USD 80–120/ton | USD 1,990–2,220/ton |
| Dubai (MENA) | +USD 100–160/ton | USD 2,010–2,260/ton |
Note: Freight rates are subject to shipping availability, bunker fuel costs, and seasonal demand fluctuations.
Regional Sales & Pricing in Key Markets
304 stainless sheet pricing exhibits significant regional variation driven by local production costs, tariffs, logistics, and end-user demand patterns. The following comparison illustrates major markets as of November 2025:
| Country/Region | Typical Price (USD/kg) | Main Suppliers | Local Taxes/Duties | Popular Specs |
|---|---|---|---|---|
| China | 1.80–2.10 | Tsingshan, TISCO, Baowu, Hongwang | 0–5% VAT (exporters exempt); domestic sales 13% VAT | 2B; BA; Mill edge or cut-to-order; 1.0–3.0 mm |
| USA | 2.30–3.20 | Outokumpu (Finland, US mills), Carpenter, ATI | 0% tariff (USMCA); 25% on certain Chinese imports | 2B; brushed; mill-edge; 1.2–2.4 mm; stainless trim |
| Germany/Europe | 2.40–3.10 | Outokumpu (HQ: Finland); Aperam; Acerinox | 0% within EU; 15% excise (sustainability/carbon); import duty 0% (EU origin) | EN 1.4301; 2B; BA; polished; 1.5–3.0 mm |
| India | 1.95–2.40 (landing cost: +8.5% tariff) | JSL, Jindal, Tata Steel; imports from China, Europe | 8.5% basic import tariff; 5% IGST on domestic sales; 20% GST total | SUS 304; 2B coil; 1.0–2.5 mm; food-grade (passivated) |
| Japan | 2.50–3.40 | Nippon Steel, TISCO (Japan subsidiary), Outokumpu JV | 0% (WTO members); 8% consumption tax on domestic sales | JIS SUS 304; bright annealed; 1.0–2.0 mm; precision cut |
Regional Insights
China: As the dominant global producer (>30% of worldwide output), Chinese domestic 304 sheet trades at the lowest worldwide prices. Tsingshan and TISCO set regional benchmarks. Cold-rolled coil (2B) typically trades at approximately ¥13,100/ton (CNY; ~USD 1,900/ton at current 7.25 CNY/USD exchange). Bulk buyers (50+ tons) access mill prices; retail stockists add 10–15%. Export pricing benefits from factory-gate economics, though Chinese tariffs on nickel/ferrochrome feedstock can shift mid-month pricing.
USA: North American pricing reflects higher labor, energy, and compliance costs. U.S. domestic production (ArcelorMittal, Allegheny Technologies, Carpenter Technology) commands a premium over imported material. Tariffs on Chinese stainless (25% historical rate, subject to trade policy) inflate landed costs. Small-volume retail buyers via service centers pay USD 2.80–3.50/kg; bulk mill-direct contracts (50+ tons) achieve USD 2.30–2.60/kg.
Germany/Europe: European pricing reflects Outokumpu’s (Finland) dominance, high energy costs, and strict environmental regulations (Carbon Border Adjustment Mechanism, CBAM, phasing in through 2026). Cold-rolled 2B sheet averages EUR 1.95–2.45/kg (~USD 2.15–2.70/kg). Outokumpu’s low-carbon, recycled-content sheets command 5–10% premium but appeal to ESG-focused buyers.
India: Indian prices track global trends with the addition of local import tariffs (8.5%) and indirect taxes (GST ~5–20%, depending on product classification). Domestic producers (JSL, Jindal) and imports compete; import-dependent sectors show price sensitivity to INR/USD movements. Typical domestic coil pricing: ₹182–210/kg, with processed/cut lengths commanding ₹220–280/kg.
Japan: Japanese buyers, both domestic producers and service centers, source globally. Nippon Steel’s domestic output sets minimum pricing; imports from China or Outokumpu provide alternatives. Domestic 304 sheet averages ¥280–380/kg (JPY; ~USD 2.50–3.40/kg). Japanese OEMs (automotive, appliances) negotiate annual framework agreements with mills, locking in quarterly adjustments.
Historical Price Volatility (Past 24 Months)
Monthly Average Price Trend (November 2023 – November 2025)
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USD/MT: 1908 1945 2050 2120 2090 1980 1920 1850 1880 1900 1950 1925 1910
(Approximate Monthly Spot Averages – Procurement Resource, CRU indices)
Key Price Movement Summary
- Peak (March 2024): USD 2,120/ton (+11% from November 2023 baseline)
- Trough (July 2024): USD 1,850/ton (–13% from peak)
- Current (November 2025): USD 1,910/ton (–0.5% YoY, near 24-month average)
- Volatility Range: 23% swing (peak-to-trough)
- Trend: Stabilization into Q4 2025; cautious outlook for 2026
Major Events Driving Price Swings (Past 24 Months)
- Nickel Supply Shock (January–March 2024)
- Indonesian nickel ore export restrictions pressured feedstock costs
- Nickel LME prices spiked from USD 17,800/ton to USD 19,200/ton
- Impact: +USD 180–220/ton stainless sheet premium
- Chinese Manufacturing Weakness & Lunar New Year (February–March 2024)
- Post-CNY inventory accumulation in China; weak domestic demand
- Producers cut output by 8–12%
- Impact: Initially supported prices; later reversed as supply normalized
- Chromium Ferrochrome Price Decline (April–July 2024)
- South African ferrochrome supply expansion; weakening global alloy demand
- Ferrochrome index fell 18% (April to July)
- Impact: Enabled mill price reductions; bottom formed in July
- US Dollar Strength & Trade Uncertainty (August–September 2024)
- Federal Reserve signaled rate maintenance; USD gained 4.5% vs. basket
- Tariff concerns (US election period) created buyer hesitation
- Impact: Demand softened; prices declined 1–2%
- EV Production Ramp & Infrastructure Push (Q3–Q4 2024 / Q1 2025)
- Automotive & EV battery enclosure demand firmed
- Infrastructure spending announcements in India, Southeast Asia
- Impact: Mild price rebound; +USD 40–60/ton offset earlier declines
Short-Term & Long-Term Price Trends
Near-Term Forecast (3–6 Months: November 2025 – April 2026)
Outlook: Neutral to Slightly Bullish
- Expected Price Range: USD 1,880–2,150/ton (USD 1.88–2.15/kg)
- Probability Distribution:
- Bullish (>USD 2,050/ton): 35% – driven by Chinese production cuts, Lunar New Year restocking
- Neutral (USD 1,920–2,050/ton): 50% – macroeconomic uncertainty, balanced supply-demand
- Bearish (<USD 1,920/ton): 15% – global slowdown, excess inventory
Key Drivers for Next 6 Months:
- Raw Material Trends
- Nickel: Expected to remain USD 15,000–16,000/ton (geopolitical risk premium intact)
- Chromium: Steady supply; minimal upward pressure
- Scrap availability: Robust; 304 scrap underpin at USD 1,250–1,350/ton
- Demand Signals
- Automotive & HVAC sectors showing seasonal uptick (Q1 Northern Hemisphere)
- Food processing plant capex moderating (post-2024 cycle)
- Construction in developed markets (Europe, North America) facing headwinds; Asia-Pacific steady
- Supply-Side Factors
- Outokumpu, Aperam capacity utilization ~75–80% (normal seasonal range)
- Chinese mills operating at 65–70% capacity (post-CNY build likely)
- Antidumping measures (EU, US) limiting import deflation
- Geopolitical & Regulatory
- US tariff policy uncertainty (2025 administration transition)
- EU CBAM Phase 2 (Jan 2025) adding compliance costs
- Trade tensions (India-EU trade deal delayed) affecting tariff structure
Analyst Consensus (November 2025):
- CRU Forecast: Sideways-to-up into Q1 2026; average USD 1,950/ton for Q1 2026 (±3%)
- S&P Global Platts: Balanced market; expect USD 1,920–2,050/ton range; downside if Chinese demand falters
- Procurement Resource: Price stabilization expected; recommend Q1 contracting at current levels to secure supply
Long-Term Outlook (2026–2028)
Structural Factors Reshaping 304 Stainless Market:
- Green Steel & Decarbonization (ESG Tailwind)
- Demand for low-carbon 304 sheet expected to grow 12–18% CAGR through 2028
- Outokumpu (Suncar program) and Aperam investing USD 200M+ in carbon-reduced mills
- Carbon premium (low-carbon vs. conventional): 8–12% expected to persist
- Long-term Price Impact: +3–5% structural premium for ESG-certified material
- Electric Vehicle Growth (Automotive Tailwind)
- EV battery enclosure and structural components driving 304/316 adoption
- Global EV production forecast to reach 40M units by 2030 (up from 14M in 2023)
- Stainless battery housings expected to add 200K+ tons/year demand by 2028
- Long-term Price Impact: Demand pull; baseline +2–4% vs. 2023 levels
- Renewable Energy Infrastructure (Solar/Wind)
- Solar panel mounting hardware, wind turbine fasteners requiring 304/316
- Global renewable capacity additions expected 800+ GW/year through 2028
- Stainless fastener/component consumption rising 10%+ annually
- Long-term Price Impact: Steady demand support; limits downside
- Nickel Supply Dynamics (Raw Material Headwind)
- Indonesia extending nickel export restrictions; ore ban through 2025–2026
- Alternative supplies (Philippines, Russia) constrained by geopolitics
- Nickel LME forecast to average USD 15,500–17,500/ton through 2028 (vs. USD 14,500 historical average)
- Long-term Price Impact: Persistent +USD 100–150/ton premium on 304 base price
- Capacity Expansion & Consolidation
- Tsingshan ramping second 304 mill (Sulawesi, Indonesia); 300K tons/year incremental capacity late 2025–2026
- Baowu (China) expanding integration; potential for 5–8% cost reduction via consolidation
- Outokumpu targeting 50% cost reduction (per ton) by 2030 via electrification + recycling
- Long-term Price Impact: Inflationary pressures (China tariffs, energy) offset by productivity gains; net neutral to slightly downward pressure
Industry Forecasts (2026–2028)
World Steel Association (WSA) – October 2025
- Global stainless steel production forecast: 34.2 MT in 2026, 35.8 MT by 2028 (CAGR +2.4%)
- 304-grade share remaining at 48–52% of total austenitic output
- Baseline expectation: 304 sheet prices stabilizing in USD 2,000–2,200/ton range (2026–2028 average) vs. 2024 baseline USD 2,050/ton
CRU Long-Term Report – June 2025
- “Nickel market to remain tight through 2027; supportive for stainless pricing”
- Predicted 2028 average: USD 2,150/ton (low-carbon premium absorbed)
- Risk factors: recession scenario could push prices to USD 1,700–1,800/ton; boom scenario (EV acceleration) to USD 2,400+/ton
S&P Global Commodity Insights – Q3 2025
- Green steel premiums (“premium-grade 304-L low-carbon sheet”) projected USD 2,300–2,500/ton by 2027
- Conventional 304 baseline: USD 2,050–2,200/ton (2026–2028)
- “Margin compression for non-integrated, high-cost producers likely; Outokumpu, Aperam, TISCO positioned to outperform”
6. Buying Tips & Risk Hedging Strategies
Purchasing Parameters
Minimum Order Quantities (MOQs):
- Direct mill contracts: Typically 100–500 tons minimum; 12-month duration; quarterly volume adjustments
- Service center/distributor: 1–5 tons common; premium of 15–25% over mill price
- Specialty finishes (mirror, brushed, etched): 3–10 tons often required; 6–8 week lead times
Lead Times:
- Standard 2B coil (off-shelf stock): 2–4 weeks ex-China; 3–6 weeks to North America/Europe (including transit)
- Custom width/length coil: 4–8 weeks production + transit
- Cut-to-length sheets (precision finish): 6–10 weeks; subject to fabrication queue
- Mill-direct specialty (low-carbon, certified food-grade): 8–12 weeks; long-term contract basis
Payment Terms & Financing:
- Spot purchases: 30-50% deposit upfront; balance upon shipment (via L/C or T/T)
- Monthly contracts: Net 30–60 (common for established OEM customers)
- Annual framework agreements: Net 45–90, with quarterly true-ups for market adjustments
- Scrap credits/rebates: Available from some suppliers if returning trim/scrap
Price Locking & Hedging Mechanisms
1. Forward Contracts with Suppliers
- Negotiate 2–3 month forward pricing (common for 5–10 ton orders)
- Lock-in structure: 70% at fixed price; 30% subject to monthly LME/CRU index adjustment (caps/floors)
- Benefit: Predictable budget; mitigates immediate spot volatility
- Best practice: Establish quarterly volume outlook; confirm 30 days prior to each release
2. Commodity Futures & Swaps (Advanced)
- London Metal Exchange (LME): Nickel futures used as proxy hedge (304 sensitive to Ni ~60% of surcharges)
- Purchase Ni futures calls (3–6 month horizon) to hedge upside risk
- Cost: 1–3% premium; requires futures account & margin
- Suitable for: Large consumers (>100 tons/month); financial/hedging sophistication required
3. Supplier Price Protection Programs
- Some mills (Outokumpu, Aperam, Jindal) offer price caps or collar structures
- Example: Floor USD 1,900/ton; Ceiling USD 2,150/ton; mid-month settlement
- Duration: 6–12 months typical
- Cost: 2–5% premium vs. pure spot
4. Dual Sourcing & Geographic Arbitrage
- Maintain relationships with suppliers in 2–3 regions (e.g., China + Europe + India)
- Monitor regional price spreads; source opportunistically
- Risk: Quality/certification variance; requires robust QA process
- Benefit: Leverage competition; average down procurement costs by 3–7% annually
5. Inventory Management & Just-In-Time Strategy
- JIT Model: Order 2–3 weeks of demand; lower carrying costs; exposes to spot spikes
- Buffer Stock: Maintain 4–6 weeks on hand; absorbs demand fluctuations; increases working capital
- Sweet spot: 3–4 weeks, with supplier agreements for rush orders at +5–10% premium
Red Flags & Quality Assurance
Counterfeit & Low-Quality Material Indicators:
- Price Red Flags
- Offers >15–20% below regional spot: Suspect material origin, grade substitution, or compliance violations
- Unusually aggressive terms (Net 120+, consignment): May indicate supplier financial distress or intent to offload inventory
- Material Verification Protocols
- Certificate of Conformance (CoC): Verify mill test reports (MTR) per ASTM A240 or EN 10088
- Chemical Analysis: On-site XRF (X-ray fluorescence) spot-check for Cr/Ni/Ni ratios
- Mechanical Testing: Random tensile/hardness samples (annually or per shipment, depending on criticality)
- Certification Audit: Confirm supplier ISO 9001 / ISO 17025 accreditation; review audit reports
- Sourcing Red Flags
- Supplier lacks transparent mill traceability (“mixed origins,” vague sourcing)
- No documented quality management system or third-party certification
- Pricing highly volatile month-to-month with no clear correlation to raw material indices
- Reluctance to provide mill certificates, test data, or references
- Surface & Dimension Defects
- Excessive oxidation, pitting, or staining (poor storage/handling)
- Out-of-tolerance thickness, width, or flatness beyond stated specs
- Coil edge cracking, splits, or slit damage (manufacturing/handling issue)
Best Practices for Quality Control:
- Establish supplier SLAs (Service Level Agreements): Define acceptable defect rates, on-time delivery, certificate turnaround
- Conduct periodic supplier audits (annual or biennial for critical suppliers)
- Maintain traceability: Heat number linkage from mill → coating/processing → end-user application
- Use third-party inspection (SGS, Bureau Veritas) for high-volume, high-value contracts (>500 tons/year)
Conclusion
The 304 stainless sheet price remains a dynamic, multifactorial metric reflecting global supply chains, raw material cycles, and industrial demand. As of November 2025, prices have stabilized near USD 1,900–2,100/ton (USD 1.90–2.10/kg) for standard cold-rolled coil, underpinned by balanced supply-demand and steady feedstock costs.
Key Takeaways for Procurement Professionals:
- Spot prices vary 10–15% by region and finish; engage multiple suppliers to optimize total landed cost
- Nickel prices remain the dominant driver; consider forward contracting during periods of price weakness
- Long-term tailwinds (green steel, EV growth) support baseline pricing; expect 2–5% structural premium by 2028 for certified low-carbon grades
- Quality verification is non-negotiable; insist on third-party certs, material traceability, and supplier audits
- Forward contracting 2–3 months out provides budget certainty while maintaining supply chain flexibility
By combining strategic procurement with rigorous supplier management, buyers can navigate market volatility and secure high-quality 304 stainless sheet at competitive pricing.
Sources Cited:
- CRU Stainless Steel Price Index (November 2025)
- Argus Media Metals & Mining Bulletin, argus.com
- S&P Global Platts Stainless Steel Daily, spglobal.com
- Shanghai Metals Market (SMM), smm.cn
- World Steel Association (WSA) – October 2025 Report
- Procurement Resource – Stainless Steel 304 Price Trends Report
- Sanmei Metal – 304 Stainless Steel Price Update, February 2025
- Nexizo – SS 304 Price Trends & Forecast, July 2025
Disclaimer: Prices and forecasts in this article reflect data available as of November 5, 2025, and are subject to change without notice. This analysis is for informational purposes and does not constitute financial, legal, or commercial advice. Always verify current spot prices and contractual terms directly with suppliers and industry pricing services.
