304 Stainless Steel Price Guide: September 2026 Market Update
Current 304 stainless steel sheet and coil prices in China. Price breakdown by mill tier (state-owned vs private), cold rolled vs hot rolled, scrap prices, key cost factors, and essential buying advice including the thickness tolerance trap.
304 Stainless Steel Price Guide: September 2026 Market Update
304 is the most widely used stainless steel grade in the world — and for good reason. Its balance of corrosion resistance, formability, and cost makes it the workhorse of the stainless industry. But 304 prices can vary significantly depending on the mill, surface finish, thickness, and market conditions.
In this guide, we break down current 304 stainless steel pricing in the China market, explain the key cost factors every buyer should understand, and share essential tips to avoid common pitfalls.
Current Price Range (September 2026)
Current domestic China base prices for 304 stainless steel are approximately $1,960 – $2,190 / MT (RMB 14,300 – 16,000 / ton, VAT-inclusive base price). FOB export prices are typically 10–15% lower depending on volume, payment terms, and mill origin.
| Product / Source | Price Range (USD/MT) | Notes |
|---|---|---|
| Top-tier mills (TISCO, Baosteel) — CR 2B | $2,125 – $2,190 | Tightest tolerances, best quality, full certification |
| Private 2nd-tier mills (Qingshan, Delong) — CR 2B | $1,960 – $2,055 | Best value, most common for general use |
| Hot rolled (No.1 finish) — 5’ mill edge | $1,930 – $1,990 | Lower surface quality, for industrial / processing use |
| 304 stainless scrap | $1,340 – $1,450 | Clean new scrap at top end, mixed used at bottom |
Important: These are base prices for standard 1.0–3.0mm thickness, 2B finish, 1219/1240mm width. Thinner gauges, special finishes, and custom widths add premiums. Prices change daily — always confirm current pricing before ordering.
4 Key Factors That Determine Your Final Price
1. Surface Finish (表面工艺)
Base price is for 2B (mill finish). Each additional surface process adds cost:
| Finish | Description | Price Premium vs 2B | Common Use |
|---|---|---|---|
| No.1 | Hot rolled, descaled | 5–10% lower | Industrial, structural, further processing |
| 2B | Cold rolled, matte mill | Base price | Most common, general purpose |
| BA | Bright annealed, semi-reflective | +$55–$110/MT | Kitchenware, appliances |
| No.4 / Brushed / Hairline | Satin directional finish | +$70–$200/MT | Decorative, appliances, architecture |
| 8K / Mirror | Highly polished, reflective | +$200–$700/MT | Decorative panels, mirrors, luxury interiors |
| Etched / Patterned | Custom surface patterns | +$280–$1,100/MT | High-end architectural, feature walls |
| Embossed | Textured surface | +$140–$420/MT | Anti-slip, decorative |
2. Thickness & Width (厚度规格)
Thinner = more expensive per ton because thin material requires more rolling passes and produces less yield:
| Thickness Range | Price vs 1.0–3.0mm Base |
|---|---|
| 0.3 – 0.5mm | +$70 – $140/MT |
| 0.6 – 0.8mm | +$35 – $105/MT |
| 1.0 – 3.0mm | Base price (standard) |
| 4.0 – 6.0mm | +$20 – $70/MT (modest premium) |
| 8.0mm + | Varies by availability |
Standard widths (1000mm, 1219mm, 1240mm, 1500mm) are cheapest. Custom slitting adds $15–$40/MT.
3. ⚠️ Thickness Tolerance / “Under-Thickness” — The Biggest Trap
This is the #1 hidden cost in the stainless steel market, especially when comparing prices from different suppliers.
What is it? Sheet sold at a “nominal” thickness (e.g., 1.5mm) is often actually slightly thinner. In Chinese market terminology, this is called 下差 (xià chā) — literally “under difference.”
| Mill Tier | Typical Under-Thickness | Real vs Nominal |
|---|---|---|
| Top-tier SOE mills (TISCO, Baosteel) | ±0.02 – 0.05mm | ~97–99% of nominal |
| Mid-tier private mills | 0.05 – 0.10mm | ~93–97% of nominal |
| Budget private mills | 0.10 – 0.20mm+ | ~87–93% of nominal |
Why it matters: If you buy “1.5mm” sheet that’s actually 1.35mm, you’re paying for 10% more material than you actually receive. A lower quote from a mill with bigger under-thickness might actually be more expensive per kg of real material.
Always ask:
- What is the actual thickness, not just the nominal thickness?
- Is pricing based on theoretical weight (calculated from nominal thickness) or actual weight?
- What is the thickness tolerance standard?
4. Market Supply & Nickel Prices
304 stainless steel prices are heavily driven by raw material costs, especially:
- Nickel (as ferronickel or nickel pig iron) — typically the single biggest cost factor
- Chromium (ferrochrome) — also significant
- Stainless steel scrap — 304 grade scrap is a major input for many mills
Prices can move daily — sometimes multiple times per day during volatile periods — tracking nickel futures on the LME (London Metal Exchange) and SHFE (Shanghai Futures Exchange).
For bulk orders: It’s worth tracking the Wuxi and Foshan daily market reports and nickel futures trends to time your purchases at price dips. However, for most projects, trying to perfectly time the market is less important than ensuring you get the right material at a fair price.
Practical Buying & Quality Tips
1. Verify Material Authenticity
Unfortunately, the market does have cases of 201 stainless steel being sold as 304 — at roughly half the material cost, the incentive for fraud is significant.
How to protect yourself:
| Method | Cost | Accuracy | Speed |
|---|---|---|---|
| Stainless steel detection fluid | Very low ($5–20 for a bottle) | Good (pass/fail) | 1–5 minutes |
| XRF / Spectral analyzer | Higher equipment cost | Excellent (full composition) | 10–30 seconds |
| Mill Test Certificate (MTC) | Included with order | Reliable if verified | With shipment |
Best practice: Always request an MTC, and spot-check material on delivery with detection fluid. For large or critical orders, arrange third-party inspection.
2. Clarify Pricing Terms Upfront
Make sure you’re comparing apples to apples when getting multiple quotes:
- ✅ Mill edge vs. cut edge — mill edge (毛边) is cheaper than trimmed/rectified (切边)
- ✅ VAT / tax status — is the price VAT-inclusive (含税) or ex-tax (不含税)?
- ✅ Delivery terms — EXW factory, FOB port, CIF destination?
- ✅ Payment terms — T/T, L/C, etc.
- ✅ Weight basis — theoretical weight or actual weight?
- ✅ Tolerance standard — what thickness tolerance applies?
3. Choosing the Right Mill
| Factor | Top-tier (TISCO, Baosteel) | Private 2nd-tier (Qingshan, Delong, etc.) |
|---|---|---|
| Price level | Premium (+5–10%) | Base / value |
| Thickness tolerance | Tight (±0.02–0.05mm) | Wider (±0.05–0.15mm+) |
| Surface quality | Excellent, very consistent | Good, minor variation possible |
| MTC documentation | Full, certified | Available but verify carefully |
| Best for | Critical applications, food/medical, aerospace, strict quality requirements | General fabrication, decorative, non-critical use |
| Availability | Some sizes may have longer lead times | Usually abundant stock |
There’s no universal “best” — it depends on your application and budget. Many buyers use a mix: private mill material for standard bulk orders, top-tier for critical items.
Market Outlook
As of September 2026, 304 stainless steel prices are in a consolidation phase after earlier adjustments. The market is watching:
- Nickel and ferronickel price trends — the main driver of short-term price moves
- Chinese mill production rates — whether mills maintain output or cut to support prices
- Downstream demand recovery — particularly from construction, automotive, and export sectors
- Global economic conditions — affecting both demand and raw material costs
For procurement planning, focus on your actual project timeline rather than trying to perfectly time the market. If you’re working on a medium-to-large order (50+ tons), it’s reasonable to watch the market for 1–2 weeks to identify a good entry point.
Need a Current Quote?
If you need pricing for specific 304 stainless steel specifications — particular thickness, width, surface finish, or quantity — send us your requirements and we’ll provide a competitive FOB quotation within 24 hours. We work with both top-tier and quality-verified private mills, so you can choose the right balance of price and quality for your project.
Frequently Asked Questions
What is the current price of 304 stainless steel in China?
As of September 2026, 304 stainless steel base prices in China range from approximately $1,960–$2,190 per metric ton (RMB 14,300–16,000 / ton, domestic VAT-inclusive equivalent). Private second-tier mills (Qingshan, Delong) offer cold rolled 2B at around $1,960–$2,055/MT base price, while top-tier state-owned mills (TISCO, Baosteel) are roughly $2,125–$2,190/MT. Hot rolled material is slightly lower. FOB export prices are typically 10–15% below domestic prices depending on volume and terms. Prices fluctuate daily with nickel and ferronickel markets.
What's the price difference between top-tier mills and private mills for 304?
Top-tier state-owned mills like TISCO (Taiyuan Iron & Steel) and Baosteel typically charge a premium of about $140–$280 per ton (5–10%) over private mill material. The premium reflects tighter thickness tolerances (smaller under-thickness), more consistent surface quality, more reliable chemical and mechanical properties, and full certified MTC documentation. For critical applications — food equipment, pressure vessels, medical, or aerospace — the premium is usually worth it. For general fabrication where tolerances aren't critical, private mill material can offer good value.
How much is 304 stainless steel scrap worth?
As of September 2026, 304 stainless steel scrap prices in China are approximately $1,340–$1,450 per metric ton (RMB 9,800–10,600 / ton). Clean, solid, new-production scrap (industrial offcuts and stampings) commands the highest prices, while mixed or contaminated scrap with attachments, oil, or non-stainless steel contaminants sells at the lower end. Scrap prices track primary stainless prices with a lag of 1–2 weeks and typically trade at 60–70% of primary material prices.
What is the thickness tolerance / under-thickness issue in stainless steel?
The thickness tolerance issue — called "xiacha" (下差) in the Chinese market — is one of the biggest pitfalls for buyers. Stainless steel sheet is sold by nominal thickness, but the actual thickness is often slightly less. Top-tier mills typically hold tolerances of ±0.02–0.05mm from nominal, while some private mills may have under-thickness of 0.1–0.2mm or more. This means a sheet sold as 1.5mm might actually be only 1.35mm — you're paying for 1.5mm but getting less material. Always confirm the actual thickness, not just the nominal thickness, and check whether pricing is based on theoretical weight or actual weight.
What surface finishes are available for 304 stainless steel?
Common 304 surface finishes, from cheapest to most expensive: No.1 (hot rolled, descaled — cheapest), 2B (cold rolled, matte mill finish — most common), BA (bright annealed, semi-reflective), No.4 (brushed / hairline / satin finish), 8K (mirror polished), HL (hairline long-grain), embossed, and etched / patterned. Each step up in finish adds processing cost — brushed can add $70–$140/MT, while mirror polishing can add $200–$700/MT depending on quality level.
How do I verify that stainless steel is really 304?
To verify 304 stainless steel and avoid being sold 201 at 304 prices: 1) Stainless steel detection fluid — a quick and inexpensive drop test; 304 stays clear (or changes very slowly) while 201 turns red/brown quickly, 2) XRF / spectral analyzer — the most accurate method, gives full chemical composition including exact nickel and chromium content, 3) Mill Test Certificate (MTC) — always request and verify against physical material labels, 4) Spark test — less precise but can give a rough indication. Never rely on visual appearance alone — 201 and 304 look nearly identical when polished.
What factors drive 304 stainless steel prices?
The biggest driver is raw material costs, especially nickel (in the form of ferronickel or nickel pig iron) and chromium. Together these account for 50–60% of 304's production cost. Other factors include: scrap steel prices (since many mills use significant scrap in production), energy costs (stainless production is energy-intensive), mill production rates (high supply = lower prices), and downstream demand from industries like construction, appliances, kitchenware, and automotive. Nickel futures on the LME and SHFE set the tone for daily price movements.
Should I buy 304 from TISCO / Baosteel or from private mills?
It depends on your application and budget. Choose top-tier mills (TISCO, Baosteel) if: you need consistent thickness and flatness, your application is critical (food, medical, pressure vessels), you need certified MTC documentation, or surface quality is very important. Choose private mills (Qingshan, Delong, etc.) if: you're doing general fabrication, cost is the primary concern, you can tolerate normal thickness variations, and you have a way to verify material quality. Many buyers use private mills for bulk/standard material and top-tier mills for critical orders.
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