India: Leading stainless steel coil maker hikes 304, 316 grade prices by INR 3,000/t ($35/t)

India’s leading stainless steel coil manufacturer increased tags of 304 and 316 grades by INR 3,000/t ($35/t), effective 22 Apr’25, driven by rising prices of nickel, a key raw material. This week, LME nickel prices breached $15,690/t. The hike is applicable to widths of 1300 mm. Additionally, a provisional safeguard duty of 12% has been imposed on flat steel imports to support the domestic industry.