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In the ever – changing metals market, stainless steel prices in March 2025 have been under the spotlight, attracting the attention of various industries. The price trends are the result of a complex interplay of multiple factors, with raw material costs, supply – demand dynamics, and policy – related elements taking center stage.​ Price Movements in March 2025​ As of March 20, 2025, the market prices of stainless steel plates in different regions and with various specifications showed significant variances. In Huzhou, Zhejiang Province, the market price of stainless steel plates (Yongjin, material: 304/2B; specification: 1.0*1219*2438; tolerance: 0.91; variety: cold – rolled stainless – steel flat plate) was 12,100 yuan per ton. In Wuxi, Jiangsu Province, the market prices for different brands and specifications of stainless steel plates ranged from 12,400 yuan to 14,200 yuan per ton. For example, the price of domestic cold – rolled stainless – steel coil plates (material: 304/2B; specification: 2.0*1219*C) was 14,200 yuan per ton, while that of Hongwang’s similar products was 13,600 yuan per ton.​ In the earlier part of March, on March 10, the closing price of stainless – steel futures was 13,490 yuan per ton, with a daily increase of 0.45% and a five – day increase of 1.81%. However, the market situation was rather volatile.​ The exact price will be according to your need size . Different size with differnt price! Key Factors Influencing Prices​ Raw Material Costs​ Nickel, a crucial raw material for stainless – steel production, has had a significant impact on prices in March. On March 18, nickel futures prices plummeted. The main contract price dropped to below 130,200 yuan per ton, with the maximum decline exceeding 2.3%. On March 17, the average price of SMM1# electrolytic nickel was 133,550 yuan per ton, a decrease of 1,075 yuan per ton compared to the previous day. The decline in nickel prices was mainly due to the waning influence of Indonesian policies, and the market once again being dominated by the oversupply situation.​ In addition, during the Indonesian Ramadan in March, the spot supply of nickel ore remained tight, which kept the price of nickel ore in Indonesia firm. In the nickel – iron market, the price has been on the rise recently. The transaction price has mostly been in the range of 980 – 1000 yuan per nickel. This upward trend in nickel – iron prices has led to an upward shift in the cost support for stainless steel. However, considering the overall situation of the nickel market, factors such as the oversupply of refined nickel, the cost inversion of nickel – iron, the decline in nickel sulfate prices, and the continuous accumulation of inventory in the London Metal Exchange (LME) nickel market are all putting pressure on nickel prices, which in turn affects the cost structure of stainless steel.​ Supply – demand Dynamics​ In terms of supply, in February, Indonesia’s stainless – steel production was 420,000 tons, with a month – on – month growth rate of 0% and a year – on – year decrease of 2.3%. In the same month, China’s national stainless – steel production reached 1.63 million tons, with a month – on – month increase of 1.2% and a year – on – year increase of 17%. As we entered March, the supply of stainless steel continued to show an upward trend. The latest LME nickel inventory on a certain day in March was 200,880 tons, an increase of 300 tons compared to the previous day, and the Shanghai nickel futures inventory was 28,193 tons, an increase of 426 tons compared to the previous day. High production levels and growing inventories have created a situation of relatively abundant supply in the market.​ On the demand side, the overall performance was weak. Although there was a marginal improvement in downstream receiving sentiment recently, the overall trading activity in the market remained insufficient. In the construction industry, which is a major consumer of stainless steel, the slowdown in the real estate market has continued to suppress the demand for stainless steel, especially for 200 – series stainless steel used in civil construction and decoration. In contrast, the automotive industry and the home appliance industry have shown relatively stable demand. The automotive industry’s increased production and exports have contributed to the demand for stainless steel, especially in exhaust systems and structural components. The home appliance industry, including large and small appliances, as well as the tableware and kitchenware sectors that mainly use 400 – series stainless steel, has also maintained a certain level of demand. However, the overall weak demand in the downstream market, especially in some large – scale industrial applications such as petrochemicals, chemicals, and new energy, has still had a significant impact on the overall demand for stainless steel.​ Policy – related and Other Influences​ Government policies also play a role in the price trends of stainless steel in March. After the Indonesian export foreign exchange mandatory retention order, the market has been speculating about Indonesia’s revision of the nickel ore sales benchmark price calculation formula. The new regulations have made the benchmark prices of smelting products such as nickel – iron significantly higher than the actual market prices. However, many smelting enterprises are not among the implementation targets, and the enforceability of these regulations is in doubt. Therefore, this may only have a short – term emotional impact on the stainless – steel market.​ Moreover, the strength of the US dollar also has an impact on the price of stainless steel. A stronger US dollar can make stainless steel, which is traded globally in dollars, more expensive for buyers using other currencies, potentially reducing demand and putting downward pressure on prices. Although there is no significant change in the exchange rate situation in March that has had a sudden and major impact on the stainless – steel market, it remains an important factor worthy of continuous attention.​ Future Outlook for March and Beyond​ Looking ahead for the remainder of March 2025, the stainless – steel market is expected to continue to be volatile. The upward shift in cost support due to rising nickel – iron prices may limit the downward space of stainless – steel prices to a certain extent. However, the overall situation of strong supply and weak demand is likely to persist. If the supply continues to increase without a significant improvement in demand, there may still be downward pressure on prices.​ In the long run, the stainless – steel market will continue to be affected by factors such as changes in raw material supply, the development of emerging industries, and the effectiveness of economic stimulus policies. The development of new energy vehicles, for example, may bring new growth points to the demand for stainless steel in the long term. Market participants need to closely monitor these factors to make informed decisions in the face of the ever – changing stainless – steel market.​ In conclusion, the price trends of stainless steel in March 2025 are complex and influenced by multiple factors. The market is in a state of dynamic adjustment, and only by comprehensively considering various aspects can market players better adapt to and predict future price changes. Anyway,when you need the stainless steel coils, plates, talk with Zyta anytime, we will supply you competitive price on the basic of the quality!