India: Major stainless steel producer hikes 316-grade coil prices amid higher alloy costs

• 316 stainless steel prices rise by INR 3,000/t, 3rd price hike in Jul’26
• Higher molybdenum, nickel costs support latest price increase

A leading Indian stainless steel producer has increased domestic prices of 316-grade hot-rolled (HR) and cold-rolled (CR) stainless steel coils by INR 3,000/t, effective 28 July, marking its third price revision this month. Market participants attributed the latest hike to rising input costs, particularly higher molybdenum and nickel prices, coupled with the stronger US dollar, which increased raw material procurement costs.

At the time of reporting, LME nickel stood at $17,065/t.

According to BigMint’s assessment, ferro molybdenum (FeMo 60%) was assessed at INR 4,271,000/t ex-Raipur, reflecting elevated alloy costs that continue to support upward revisions in 316 stainless steel prices.

BigMint’s latest assessment of 304 HR coils stood at INR 215,000/t and 316 HR coils stood at INR 402,000/t on 22 July 2026.