For the Quarter Ending September 2025
North America
• In the USA, the Stainless Steel Round Bar Price Index rose by 0.52% quarter-over-quarter, reflecting higher imports.
• The average Stainless Steel Round Bar price for the quarter was approximately USD 6209.67/MT delivered in Philadelphia.
• Stainless Steel Round Bar Spot Price activity was limited as distributors wound inventories, reducing transactional spot volumes.
• Stainless Steel Round Bar Price Forecast suggests modest monthly volatility, with aerospace and energy procurement supporting gains.
• Stainless Steel Round Bar Production Cost Trend reflects freight and tariff pass-through, elevating landed costs despite stable scrap.
• Stainless Steel Round Bar Demand Outlook remains mixed, with automotive strength offsetting construction weakness and cautious restocking.
• Inventory overhang pressured the Stainless Steel Round Bar Price Index into sideways movement as distributors cleared excess stock.
• Import competitiveness supported landed U.S. values, prompting domestic mills to offer modest discounts to maintain shares.
Why did the price of Stainless Steel Round Bar change in September 2025 in North America?
• Higher freight and tariff pass-through raised landed costs, nudging domestic prices upward despite weak overall demand.
• Service centre inventory overhang and weak construction constrained purchases, pressuring the Stainless Steel Round Bar Price Index regionally.
• Selective aerospace and automotive buying provided niche support, balancing softness and limiting broader price declines.
APAC
• In China, the Stainless Steel Round Bar Price Index fell by 2.88% quarter-over-quarter, reflecting persistent oversupply and weak demand.
• The average Stainless Steel Round Bar price for the quarter was approximately USD 1896.67/MT, based on Dainan ex-works and spot market data.
• Stainless Steel Round Bar Spot Price movements showed firmer transactional activity as destocking and seasonal buying supported spot transactions.
• Stainless Steel Round Bar Price Forecast for coming months indicates recovery punctuated by intermittent downward pressure from lingering inventories.
• Stainless Steel Round Bar Production Cost Trend showed easing NPI input costs, supporting mill margins but restraining price recovery.
• Stainless Steel Round Bar Demand Outlook remains cautious as construction and fabrication buying stayed subdued despite improving macro signals.
• Stainless Steel Round Bar Price Index volatility reflected domestic oversupply and constrained export channels amid anti-dumping and inspection hurdles.
• Mill operating rates stayed steady as smaller converters curtailed output, leaving inventories elevated across Jiangsu and Zhejiang.
Why did the price of Stainless Steel Round Bar change in September 2025 in APAC?
• Elevated local production and high inventories drove downward price pressure despite steady export volumes recently.
• Moderating NPI input costs supported margins but did not translate into stronger spot price recovery.
• Export headwinds and inspection measures constrained offloading, limiting demand-led destocking and sustaining domestic oversupply thereby.
Europe
• In Germany, the Stainless Steel Round Bar Price Index fell by 0.9% quarter-over-quarter, reflecting mounting import pressure.
• The average Stainless Steel Round Bar price for the quarter was approximately USD 4192/MT according to surveys.
• Stainless Steel Round Bar Spot Price softened as distributors held excess stock and Asian offers intensified pressure.
• Stainless Steel Round Bar Price Forecast indicates modest volatility with alternating upticks and declines driven by inventories.
• Stainless Steel Round Bar Production Cost Trend remained elevated owing to high energy tariffs and subcontractor increases.
• Stainless Steel Round Bar Demand Outlook remains cautious with weak construction and selective automotive buying limiting orders.
• Stainless Steel Round Bar Price Index movement was constrained by import penetration, transport stability, and energy tariffs.
• Export demand weakness and high local inventories limited domestic pricing power despite producers stabilizing margins.
Why did the price of Stainless Steel Round Bar change in September 2025 in Europe?
• Elevated inventories and weak domestic fabrication demand pressured sellers to reduce offers and preserve liquidity.
• Sustained Asian import competition plus attractive freight routes increased supply and undermined domestic pricing discipline.
• Energy tariffs and subcontractor delays raised costs, compelling mills to balance margins with pricing pressure.
For the Quarter Ending June 2025
North America
• The Stainless Steel 304 Round Bar Price Index in North America remained stable quarter-over-quarter in Q2 2025, reflecting a delicate balance between muted demand and cautious supply-side adjustments. Despite a mixed backdrop in industrial activity, prices showed resilience as mills prioritized margin preservation over aggressive volume-based pricing.
• Production Cost Trends showed softening in Q2 due to declines in key inputs like nickel and stainless scrap. While this eased mill-side pressure, rising logistics costs — notably from Asia to Gulf ports — offset some of that relief. U.S. domestic producers also faced headwinds from stronger foreign competition, with tariffs only partially deterring competitively priced imports.
• The Demand Outlook remained moderately supportive, especially within non-residential construction segments. However, service centers and distributors continued operating with lean inventories, mirroring a hand-to-mouth buying pattern. June saw a modest 1.5% month-on-month decline in Philadelphia prices, as downstream demand, especially from mechanical and fabrication sectors, softened.
Why did the price of SS 304 Round Bar change in July 2025 in North America?
Despite June’s price drop, spot prices in July appeared more stable, with early restocking, modest activity in aerospace and infrastructure, and controlled inventory replenishment offering short-term support. The Price Forecast remains neutral to slightly bearish as ongoing macroeconomic uncertainty and tightened credit conditions cap aggressive procurement in Q3.
Asia Pacific (APAC)
• In APAC, the SS 304 Round Bar Price Index declined by 5.6% quarter-over-quarter in Q2 2025, led by persistent oversupply from Chinese mills and fragile downstream demand. Despite moderate export activity, domestic price realization weakened significantly under inventory pressure and mill-gate competition.
• Production Cost Trends were squeezed as feedstock prices, including nickel pig iron (NPI), remained firm while finished bar prices dropped. High-carbon ferrochrome and alloying agents showed little relief, but mills were forced to prioritize sales continuity, reducing prices rather than slashing output. The ex-works pricing basis protected mills from freight volatility, but didn't insulate them from demand fatigue.
• The Demand Outlook deteriorated in Q2. Fabrication, industrial equipment, and residential construction all reported slowdowns. Export destinations like South Korea and the EU also saw rising trade barriers, which limited Chinese exporters' ability to clear inventories abroad. June saw a marginal 1.0% price drop from Dainan, following a sharper 4.5% fall in May, highlighting how structural oversupply continues to erode price stability.
Why did the price of SS 304 Round Bar change in July 2025 in APAC?
July prices remained under pressure in the APAC region, with limited rebound expected due to weak domestic off-take, slow-moving inventories, and lukewarm export interest. The Price Forecast remains bearish for Q3 unless infrastructure stimulus or unexpected policy shifts significantly lift local demand or drain stockpiles.
Europe
• In Europe, the SS 304 Round Bar Price Index increased by 4.9% quarter-over-quarter in Q2 2025, marking a rare divergence from global trends. The uptick, concentrated in June, reflected a reactionary move by mills under intense margin pressure and growing unease over cheap Asian imports.
• Production Cost Trends remained elevated due to high energy prices, environmental compliance costs, and tight capacity utilization at German mills. While imports from Asia grew sharply, pricing discipline eroded among European producers only briefly before stabilizing toward the end of the quarter, as mills sought to recover thin margins and combat weakening cash flows.
• The Demand Outlook was mixed across the Eurozone. While Italy posted moderate construction growth, Germany and France dragged overall performance with weak building starts and manufacturing orders. The modest recovery in automotive output offered limited support, though it skewed toward flat rather than long product consumption. Price competition intensified, especially in June, as mills in the Ruhr region responded to a flood of undercutting Asian offers.
Why did the price of SS 304 Round Bar change in July 2025 in Europe?
After a volatile Q2, July prices showed a stabilizing bias, supported by expectations around the enforcement of CBAM and restocking from selected machinery and energy sector buyers. The Price Forecast is cautiously optimistic, hinging on successful trade defense implementation and any pickup in public infrastructure activity across the Eurozone.
For the Quarter Ending March 2025
North America
• The Stainless Steel Round Bar Price Index in North American market witnessed a decline of around 1.3% in Q1 2025, with the spot price settling at USD 6279/MT for 25 mm material (DEL Philadelphia, USA).
• Why did the price of Stainless Steel Round Bar change in April 2025?
The price decline in early April grew from subdued demand due to economic uncertainties, while supply remained stable owing to consistent production rates, thereby creating an imbalance.
• The Stainless Steel Round Bar Demand Outlook weakened, reflecting restrained purchasing activity across key sectors and overall bearish sentiment in the region.
• The Stainless Steel Round Bar Production Cost Trend remained relatively steady; however, supply chain disruptions and broader economic concerns pressured downstream activity.
• Seasonal trends and domestic market volatility in the USA notably influenced pricing, further dragging down the regional Price Index.
• Moving forward, businesses must track shifts in supply-demand metrics and economic indicators to adapt to ongoing price volatility.
• Overall, Stainless Steel Round Bar Price Forecast for the coming months remains conservative, given the uncertain demand environment.
Europe
• The Stainless Steel Round Bar Price Index in Europe showed a 1% increase in Q1 2025, closing at USD 3970/MT for 25 mm SS 304 Round Bar (Ex Ruhr, Germany).
• Why did the price of Stainless Steel Round Bar change in April 2025?
Early April's price rise was primarily due to supply constraints, including port congestion, longer shipping times, and plant-level disruptions that squeezed availability.
• The Stainless Steel Round Bar Demand Outlook remained resilient despite production issues, supported by recovering industrial activity and regional construction demand.
• Environmental regulations, particularly the EU Emissions Trading System, drove up the Stainless Steel Round Bar Production Cost Trend, adding to price pressures.
• Freight costs surged due to equipment shortages and longer logistical routes, further supporting upward price momentum in the Price Index.
• Germany led regional price increases, sustaining bullish sentiment across Europe throughout the quarter.
• The Stainless Steel Round Bar Price Forecast for the region indicates sustained firmness if supply-side constraints and environmental compliance costs persist.
APAC (Asia-Pacific)
• The Stainless Steel Round Bar Price Index in the APAC region dropped 6.2% in Q1 2025, with prices ending at USD 2090/MT for 50 mm SS 304 Round Bar (Ex Dainan, China).
• Why did the price of Stainless Steel Round Bar change in April 2025?
Early April saw continued price declines due to oversupply from China, where producers pushed volumes into the market amid sluggish demand.
• The Stainless Steel Round Bar Demand Outlook was weak, as global economic slowdown weighed heavily on industrial and manufacturing consumption across the region.
• China faced the steepest declines, as producers offered steep discounts to manage inventory, further deteriorating the Price Index.
• Despite oversupply, Stainless Steel Round Bar Production Cost Trend remained stable, as Chinese plants operated without major disruptions, maintaining smooth supply chains.
• The competitive pricing environment, driven by inventory pressure, defined the quarter’s bearish sentiment.
• The Stainless Steel Round Bar Price Forecast points to potential stabilization only if production is curtailed or demand recovers in downstream sectors like construction and transportation.
For the Quarter Ending December 2024
North America
The North American Stainless Steel Round Bar market experienced a challenging fourth quarter in 2024, characterized by declining prices amidst fluctuating market conditions. Prices ended the quarter at USD 6,171/MT for Stainless Steel Round Bar (25 mm) DEL Philadelphia in the USA, reflecting a 2% decline compared to the previous quarter.
Several factors drove this negative trend. Supply levels increased due to consistent production, maintaining sufficient availability in the market. However, demand declined, restrained by broader economic uncertainties and subdued purchasing activity. The imbalance between supply and demand contributed to a challenging pricing environment, with bearish market sentiment dominating throughout the quarter.
Seasonality played a notable role in the price movements, mirroring the typical trends in the final months of the year. While global economic uncertainties continued to influence the market, the USA saw the most significant domestic price fluctuations, further dragging down the regional pricing landscape. Supply chain disruptions added to market sluggishness, compounding the overall challenges faced by the sector. Moving forward, careful monitoring of economic trends and supply-demand metrics will remain critical to navigating this subdued market environment.
Europe
The European Stainless Steel Round Bar market experienced a bearish pricing environment in Q4 2024, with prices declining by 1% quarter-on-quarter. The quarter concluded with SS 304 Round Bar (25 mm) Ex Ruhr in Germany priced at USD 3,876/MT, reflecting downward shifts in market dynamics. Several factors contributed to this decline. Global economic uncertainties weighed heavily on market sentiment, while weak demand from key industrial sectors exacerbated the sluggish environment. Efforts by producers to align supply with market conditions were challenged by increased supply levels that outpaced demand, leading to imbalanced market fundamentals. Additionally, Germany saw the most notable price adjustments in the region. Although prices remained relatively steady compared to the same quarter last year, imbalances in supply and demand exerted downward pressure throughout the quarter. Operational difficulties facing the broader German economy further added complexity to the market environment. The overall sentiment for Stainless Steel Round Bar in Europe during Q4 2024 remained bearish. As supply continued to outstrip demand, market players remained cautious, closely monitoring economic developments and their impact on market dynamics.
APAC
The APAC Stainless Steel Round Bar market faced sustained downward pressure in Q4 2024, with prices declining by 3% compared to the previous quarter. The quarter-ending price for SS 304 Round Bar (50 mm) Ex Dainan in China was recorded at USD 2,112/MT, underscoring the continued negative sentiment in the market.
Oversupply emerged as a key factor driving the declines, particularly from China, which dominated regional production. High supply levels created a competitive market environment, with producers offering significant discounts to clear inventory. Weak demand compounded the issue, driven by the global economic slowdown that affected manufacturing and services sectors. This imbalance between supply and demand led to consistent downward price movement throughout the quarter.
China bore the brunt of these challenges, experiencing the most significant price changes in the region. The bearish market sentiment reflected persistent oversupply and muted consumption, especially in major end-use sectors. Despite these difficulties, plant operations faced minimal disruptions, providing reliability in supply flows across the market. The overall quarter was defined by declining prices, reflecting the structural imbalance in market fundamentals.
