For buyers and traders who are trying to navigate the stainless steel industry in 2025, the JSL Steel 304 price is an increasingly important benchmark. 304 stainless steel is one of the most commonly traded grades in the austenitic stainless steel region and is present in every field, from food processing to the architectural finishes. This report contains a comprehensive price review, an indication of any regional differences in prices, and historical commodity-metric values. Actionable purchasing strategies are also included for industry constituents.
Product Overview
Complete Material Designation: 304 Stainless Steel – Austenitic Stainless Steel (Chromium-Nickel Alloy)
Common Grades and Standards:
- ASTM: A240 (plate, sheet, strip), A276 (bar
- EN: 1.4301 (X5 CrNi18-10)
- JIS: SUS304
- GB (China): 06Cr19Ni10
- JSL: Equivalent to Standard 304 with Specialized Quality Control
Typical Chemical Composition (weight %):
- Carbon (C): ≤ 0.08 %
- Chromium (Cr): 18.0 – 20.0 %
- Nickel (Ni): 8.0 – 10.5%
- Manganese (Mn): ≤ 2.0 %
- Silicon (Si): ≤ 1.0%
- Phosphorus (P): ≤ 0.045 %
- Sulfur (S): ≤ 0.030 %
- Iron (Fe): Balance
Important Mechanical Properties:
- Tensile Strength: 515 – 620 MPa (75-90 ksi)
- Yield Strength: 205 – 310 MPa (30-45 ksi)
- Elongation: ≥ 40% (in 50 mm)
- Hardness: ≤ HB 201 (Brinell); ≤ HRB 92 (Rockwell B)
- Modulus of Elasticity: 193 GPa
Typical Thicknesses and Widths Easily Available:
- Sheets/Plates: 0.3-100 mm thickness; lengths available as 1000×2000 through 1500×3000 mm
- Coils: 0.3-6 mm thick; widths up to 1500 mm
- Pipes/Tubes: OD 6-630 mm, Wall thickness 0.5-50 mm
Primary Application & Industries:
- Food & Beverage: Processing equipment, storage tanks, brewing systems
- Architecture: Cladding, handrails, kitchen equipment
- Chemical Processing: Heat exchangers, pressure vessels
- Automotive: Exhaust system, trim components
- Medical Devices: Surgical instruments, implants
- Energy: Solar will face frames, power plant equipment.
Global Price per Kilogram (Current Snapshot)
By mid-November 2025, the JSL 304 steel cost (cold-rolled sheet/coil, standard mill finish) was quoted internationally in the following range:
Latest International Spot Price Range: USD 3.85–4.45/kg FOB (for export from Asia-Pacific ports)
As per Reliable Indices:
- Shanghai Metals Market (SMM) – November 18, 2025
- 304 Cold-rolled Coil (2mm, 2B) – CNY 14,200–14,800/ton (≈USD 1,950–3,030/ton or USD 1.95–2.03/kg), domestic China ex-warehouse
- Fastmarkets (formerly Metal Bulletin) – November 15, 2025
- 304 Cold-Rolled Sheet, FOB Asia – USD 3,900–4,200/ton (USD 3.90–4.20/kg)
- Argus Metals – November 19, 2025
- 304 Stainless Steel Coil, CIF Rotterdam – EUR 3,800–4,100/ton (≈USD 4.10–4.45/kg based on current exchange rates)
CIF Premiums to Major Import Hubs:
- Rotterdam. (Europe): +USD150-220/mt (+USD 0.15-0.22/kg) over FOB Asia
- Los Angeles (USA West coast): +USD180-250/mt (+USD 0.18-0.25/kg)
- Shanghai (China Import): +USD80-120/mt (+USD 0.08-0.12/kg) for Japanese/Korean origin premiums
- Dubai (Middle East): +USD140-190/mt (+USD 0.14-0.19/kg)
Please note: Prices vary widely with surface finish (2B, BA, No. 4), thickness, width, and order volume.
Regional Sales & Pricing in Key Markets
| Country/Region | Typical Price (USD/kg) | Main Suppliers | Local Taxes/Duties | Popular Specs |
|---|---|---|---|---|
| China | 2.00–2.25 | Baosteel, TISCO, Tsingshan | 13% VAT | 2B finish, 1.0–3.0mm coils |
| European Union | 4.30–4.75 | Outokumpu, Acerinox, ThyssenKrupp | 0–3.5% duty + 19–25% VAT | EN 1.4301, BA finish popular |
| United States | 4.50–5.20 | North American Stainless, Outokumpu Americas | 25% Section 232 tariff (certain origins) | ASTM A240, #4 finish common |
| Japan | 4.00–4.50 | Nippon Steel, JFE, JSL | 10% consumption tax | JIS SUS304, mirror finish demand |
| South Korea | 3.70–4.10 | POSCO, Hyundai Steel | 10% VAT | Cold-rolled, 2B/BA finish |
| India | 3.20–3.60 | Jindal Stainless, SAIL | 18% GST + 7.5–10% import duty | 2B coils, domestic preference |
| Southeast Asia | 3.90–4.30 | Imports (China, Japan, Korea) | 5–15% duties, 7–10% VAT | Standard 2B, construction grades |
Regional Insights:
- China sustains the cheapest domestic pricing because of the huge production overcapacity and subsidies paid by Tsingshan Group and other integrated mills.
- In Europe, carbon pricing (EU ETS) and energy costs are put at levels that bestow a premium on sales although competing firms from Asia are heavily engaged in trade threats.
- The U. S. market stands in the shadow of the Section 232 tariffs that have largely choked off foreign stainless steel imports, thereby protecting the domestic mills, albeit at the expense of end-users, to a certain extent.
- JSL and another top cast of producers command quality premiums for Japan, especially in aerospace and medical applications.
Historical Price Volatility (Past 24 Months)
Monthly Average Price Trend (304 CR Coil, FOB Asia, USD/kg):
Nov 2023: 3.65 │
Dec 2023: 3.55 │
Jan 2024: 3.50 │
Feb 2024: 3.60 │
Mar 2024: 3.80 │ ▲
Apr 2024: 4.20 │ ▲ PEAK
May 2024: 4.35 │ ▲ (4.40)
Jun 2024: 4.25 │ ▲
Jul 2024: 3.95 │ ▼
Aug 2024: 3.85 │ ▼
Sep 2024: 3.75 │ ▼
Oct 2024: 3.70 │ ▼
Nov 2024: 3.80 │ —
Dec 2024: 3.85 │ —
Jan 2025: 3.90 │ —
Feb 2025: 4.00 │ ▲
Mar 2025: 4.15 │ ▲
Apr 2025: 4.05 │ ▼
May 2025: 4.10 │ —
Jun 2025: 4.20 │ ▲
Jul 2025: 4.15 │ —
Aug 2025: 4.05 │ ▼
Sep 2025: 4.00 │ ▼
Oct 2025: 4.10 │ ▲
Nov 2025: 4.15 │ — (Current)Key Statistics:
- Peak: USD 4.40/kg (May 2024)
- Trough: USD 3.50/kg (January 2024)
- Aggregate range: 25.7% fluctuation
- Current vs. 24-month ago: +13.7%
Major Price-Moving Events:
- Q1 2024: Indonesia’s Nickel Export Restrictions-Indonesian ore processing requirements constricted nickel pig iron (NPI) supply, propelling nickel prices 18% higher and pushing the costs of 304 higher.
- April-May 2024: A Squeeze in China Stainless Steel Stocks-Restocking prior to the construction season combined with mill production cuts caused temporary shortages soaring prices as much as 24 months high.
- July-October 2024: The Collapse of the Real Estate Sector of China-The Evergrand
- Q3 2025: Disbursements for the United States Infrastructure Bill – Federal infrastructure spending sped up in North America and absorbed imports, helping to stabilize prices over $4/kg amid weakness on the worldwide front.
Short-Term & Long-Term Price Trends
Next 3-6 Months Forecast (December 2025 – May 2026): Neutral To Slightly Bearish
Main Drives:
- Nickel Price Stabilization: We expect LME nickel futures (currently USD 16,800/ton) in the range of USD 16,000 to 18,000 through Q1 2026, thus capping the increase in 304 levels.
- Chinese Oversupply: Pressure would mount with Tsingshan’s new 1.2 million-ton capacity coming online in Fujian province; The production of stainless crude steel in China is forecast to rise to 33 million tons in 2025 (+3.2% YoY) as monitored by the China Special Steel Enterprise Association.
- Seasonal Demand Weakness: Winter construction slowdowns in the Northern Hemisphere usually in December to February soften prices.
- Ferrochrome Cost Support: South African and Kazakh ferrochrome prices are strong at USD 1.10-1.15/lb, ensuring a floor in prices for chromium-intensive grades.
Analyst Consensus:
- CRU Group (November 2025 report): “Expect 304 cold-rolled FOB Asia to average USD 3.95-4.15/kg in Q1 2026, with downside risks if Chinese exports exceed 1.5 million tons in a quarter.”
- Short-Term World Steel Association (October 2025)： Stainless steel demand growth projected to only 1.8% in 2026 globally, below its 10-yr average of 3.2%, giving it weakened pricing power.
Forecast Range: USD 3.80–4.25/kg FOB Asia (Q1–Q2 2026)
2026–2028 View: Structural Upward Trend But Bit Volatile
Long-term structural factors:
- Green Steel Transition: A boom in electric arc furnace and innovative hydrogen-based reduction processes is being experienced by EU mills and North American mills. Decarbonization would expand the price floor a few hundred dollars per ton by 2028 in developed markets.
- Electric Vehicle Demand: There is a request for corrosion-resistant stainless steel for battery containers, structural parts, and charging infrastructure. BloombergNEF estimates also anticipate 27 million EV sales by 2027 to drive 400–500 thousand tons demand annually for 304.
- Infrastructure Spending: US Bipartisan Infrastructure Law (USD 1.2 trillion), EU’s REPowerEU initiative, India’s National Infrastructure Pipeline are intended to inject life into construction-related demand through 2028.
- Nickel Market Rebalancing: INSG predicts a nickel surplus of 150,000-200,000 tonnes in 2026-2027, as supplies from Indonesia increase that might potentially cap the price of 304-type nickel unless demand for nickel sulfate used in EV batteries soaks up the surplus.
- Trade Policy Uncertainty: Potential episodes of rising or falling US-China tariffs, EU anti-dumping measures, or entrance into trade agreements (RCEP or CPTPP) will lead to episodes of volatility in the steel industry.
Key Industry Analysts’ Insight:
- Fastmarkets Research (Sept Cont 2025 LTF) puts forth: “304 Stainless Steel prices will average between USD 4.10-4.50/kg in real 2025 USD till 2028. And, at the end of 2028, expect European premiums at a spread of +15-20% over Asia due to carbon cost.”
- CRU Stainless Steel Market Outlook (Sep Cont 2025): “Assuming the global stainless steel consumption growth to be around 2.4% CAGR, pushing 2026-2028 price/volatility for 304 at ±12-15%.”
Range Indication: USD 4.00-4.80/kg FOB Asia (nominal terms; 2026-2028 average).
Buying Tips & Risk Hedging
Procurement Best Practices:
Minimum Order Quantities (MOQs) and Lead Times:
- Asian Mills: Typically varying between 25 to 100 tons per specification; lead time spans between 30 and 60 days for standard grades and thicknesses.
- European/US Service Centers: MOQ from 1 to 5 tons, but with 10 to 15 percent premium; at lightning speed to 2 weeks lead times.
- Spot Market: Smaller volumes (5 to 20 tons) can be purchased from dealers; expect +5 to 8 percent markup.
Standard Payment Terms:
- The above-implied payment conditions are solely meant for new buyers concerned with purchasing such chemical flakes for being supplied by the respective brokers as the intermediaries.
- In any case, the optimum supply that can be utilized is that of the agreed terms pertaining to volume requirements.
- The foregoing terms and conditions should be used after formal approval by the respective broker.
Price Locking Strategies:
- Forward Contracts with Mills: Lock prices 3–6 months ahead for 50–80% of expected volume; requires share tonnage but should eliminate the spot market risk
- LME Nickel Futures Hedge: Nickel makes up ~60–65% of 304’s material cost. These contracts are purchased to offset approximately 40–50% of the exposure to nickel price risk. Example: If 100 mts of 304 are being purchased, hedge ~12–15 ton LME-Nickel contracts in the counterpart market.
- Supplier Price Protection Agreements (PPAs): The terms could have a quarterly price-review scenario, with caps (e.g., no greater than +8% each quarter) and floors, a common practice with most major distributors.
- Diversified Sourcing: Do not rely on a single supplier. At least 2 or 3 approved suppliers should be set up across different regions (e.g., one Chinese, one Korean or Japanese, one domestic) to trend their pricing and manage supply chain risks.
Counterfeit or Substandard Material Red Flags
- 15%+ of market prices: bc of Manganese with less nickel or with a lower potential of harmful interaction with any specification; TC of such material must—that by EN 10204 3.1 or ASTM—be rejected.
- Magnetic Properties: Austenitic 304 is non-magnetic when annealed; materials that possess some magnetic strength may not be original 304 and may correspond to 430 (ferritic) grades or even low-nickel imitations.
- Surface Defects: Too much pitting, uncommon colorations, or uneven pickling indicate poor quality.
- Country of Origin Check: Verify the origin of the material using the spectral analyzer gun at receiving; many 200-series Chinese materials categorized as lacking in nickel are sold as 304-grade.
Due Diligence Checklist:
- Request a Pre-Shipment Inspection (PSI) by SGS, Bureau Veritas, or Intertek for bulk orders (over 50t).
- Refer to quality standards in the purchase order using either SS EN 10088-2 or ASTM A240.
- Chemical composition testing of random coils/sheets shall be carried out to ensure 10% alignment with accuracy.
- Check the ISO 9001 certification and PED/ASME compliance of your supplier to cover pressure equipment.
Conclusion
The JSL Stainless Steel 304 price inflection in late 2025 reveals a market in equilibrio between its oversupply from China and its structuring cost increases due to decarbonization and latent demand because of green technologies. Procurement professionals will be adjusting hedging strategies more flexibly, with quality assurance giving high priority, and increasingly relying on supply-base diversification to steer through expected volatilities until around 2028. With prices getting stable on the whole around USD 4.00-4.50/kg into the medium term, strategic buyers are strongly advised to commit on volume during the seasonal troughs, usually, the first and third quarters too, to make significant cost savings.
Close times for current market pricing information can be had from Fastmarkets or SMM daily alerts, and effective local market intelligence could be had from the local stainless steel alliance in your areas.
Sources Cited:
- Shanghai Metals Market (SMM) – November 2025
- Fastmarkets – November 2025
- Argus Metals – November 2025
- CRU Group Stainless Steel Market Outlook – 2025
- World Steel Association Short-Range Outlook – October 2025
- BloombergNEF EV Outlook – 2025
- International Nickel Study Group (INSG) Reports – 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.
