Where to find live Stainless prices
Primary sources onlyTSM does not display real-time Stainless quotes on this page — instead, we link directly to the regulated exchanges and benchmark price-reporting agencies (PRAs) that produce the actual numbers. One True Source for All: where the data originates, that is where you should read it.
- Cleared futuresSHFE Stainless Steel futures (SS, CNY) ↗
- Closest cleared proxyLME Nickel — primary alloy-surcharge driver ↗
- Benchmark administrator (PRA)Fastmarkets — stainless coil & alloy-surcharge methodology ↗
- Benchmark administrator (PRA)Argus Metals — stainless steel assessments ↗
- Benchmark administrator (PRA)Platts / S&P Global Commodity Insights — stainless prices ↗
- Benchmark administrator (PRA)SMM (Shanghai Metals Market) — Chinese domestic spot (CNY) ↗
- Industry associationworldstainless (ISSF) — methodology and statistics ↗
Exchange access is free for delayed prices on most LME/SHFE/CME pages; live tick-by-tick data and PRA assessments are paid subscriptions sold by the exchange or by Fastmarkets / Argus / S&P Global Platts directly. See TSM Sources methodology for the full source tiering.
About Stainless Steel
Editorial · sourcedWhat is stainless steel?
Stainless steel is a family of iron-based alloys containing a minimum of 10.5% chromium by mass (per ISO 15510), which forms a passive chromium-oxide layer that resists corrosion. The three principal families are austenitic (300-series, includes the workhorse 304 and corrosion-grade 316 — these contain 8-12% nickel and dominate world consumption), ferritic (400-series, no Ni, lower-cost), and martensitic (heat-treatable cutlery and turbine-blade grades). Global stainless-steel crude-melt production is approximately 60 Mt/year per industry data, with China the leading producer.
How stainless steel is priced
Stainless steel has no regulated futures contract. Pricing is by benchmark assessment from Fastmarkets, Argus, S&P Global Platts and the Chinese domestic spot service SMM. Most physical sales are priced as base price + alloy surcharge: the base price reflects conversion cost and demand, while the alloy surcharge passes through the daily LME/LBMA prices of the alloying elements (chromium via ferrochromium, nickel via the LME, molybdenum via Fastmarkets) plus the scrap value. SHFE launched a stainless-steel futures contract (SS) in 2019, now the most liquid stainless reference globally.
Where stainless steel is produced
China alone produces over 60% of world stainless steel, followed by Indonesia (the fastest-growing producer, anchored by Tsingshan-led integration), South Korea, Japan, India, USA and the EU. Tsingshan's vertically integrated complexes in Indonesia (IMIP Morowali, IWIP Weda Bay) combine nickel-pig-iron (NPI) smelting from local laterite ore with stainless melting, casting and rolling on the same site. The integration model lets Indonesian stainless beat global cost benchmarks. Per USGS MCS 2026 Nickel, Indonesian Ni output rose ~13% in 2025.
Who produces stainless steel
Top global stainless steel producers (by 2024-25 crude-melt tonnage):
- China: Tsingshan Holding Group (world's #1 stainless producer), TISCO (Taiyuan Iron & Steel), Baowu Stainless, JISCO Hongxing.
- Indonesia (Tsingshan JVs): via IMIP and IWIP integrated parks.
- South Korea: POSCO.
- Japan: Nippon Steel Stainless, Daido Steel.
- India: Jindal Stainless.
- Europe: Outokumpu (Finland: Tornio — world's largest integrated stainless mill), Acerinox (Spain), Aperam.
- USA: ATI, North American Stainless (Acerinox subsidiary).
What stainless steel is used for
Stainless steel demand splits across:
- Architecture, building & construction (ABC) — ~12% (façades, roofing, railings, fasteners).
- Catering and household goods — ~25% (cutlery, sinks, cookware, drums of washing machines, dishwashers).
- Industrial process equipment — ~25% (chemical, petrochemical, pharmaceutical, food and dairy plant).
- Transport — ~13% (auto exhaust systems, rail, ship-fitting).
- Energy and heavy industries — ~12% (pulp & paper plant, desalination, nuclear).
- Medical, scientific — ~5% (surgical instruments, implants — specifically 316L).
- Other / general engineering — ~8%.
Key facts about stainless steel supply
- Stainless steel is the largest end-market for both ferrochromium and ferronickel — effectively all FeCr and the bulk of FeNi/NPI flows into the stainless chain.
- Stainless scrap is the dominant secondary raw material — modern EAF stainless mills run on 75-90% scrap charges, which is one of the lowest-CO₂ routes available among engineering metals.
- The International Stainless Steel Forum (ISSF / worldstainless) publishes annual production and end-use statistics and methodology for life-cycle assessment.
- Reserves: not applicable. See parent metal pages Chromium, Nickel, Iron Ore.