SMO254 Prices

SMO254 Price Trend and Forecast

Track the latest insights on SMO254 price trend and forecast with detailed analysis of regional fluctuations and market dynamics across Europe, North America, Middle East & Africa, Asia Pacific, and Latin America.

SMO254 Prices Q4 2024

During the fourth quarter of 2024, the SMO254 prices in the United States reached 15,000 USD/MT in December. The market in the United States encountered notable pressures throughout the last quarter of 2024, driven by economic volatility and fluctuating raw material prices. Weakening industrial demand, coupled with elevated inventory levels, resulted in downward pricing trends as suppliers struggled to balance supply and demand. High borrowing costs further constrained new construction activities, limiting opportunities for market expansion. Export markets also faced disruptions, adding to the challenges for manufacturers.

In the fourth quarter of 2024, SMO254 prices in China reached 10,000 USD/MT in December. China's market faced a period of turbulence, influenced by ongoing economic adjustments and fluctuating demand across major industries. While government intervention helped stabilize some aspects of industrial activity, persistent weakness in the construction sector created challenges for market participants. Excess inventory and subdued investment in infrastructure projects further pressured suppliers to implement flexible pricing models.

During the fourth quarter of 2024, SMO254 pricing in Germany reached 13,850 USD/MT in December. Germany's market experienced significant headwinds during the last quarter of 2024, primarily due to weak demand and prolonged economic uncertainties. The construction and manufacturing sectors faced considerable setbacks as high interest rates and reduced government spending led to contracting orders. Elevated stock levels forced manufacturers to introduce pricing adjustments to remain competitive in a sluggish market.

SMO254 Prices Q3  2024

The SMO254 prices in the United States for Q3 2024 reached 15,200 USD/MT in September. The market experienced a substantial price increase, driven by supply chain constraints and rising raw material costs. The surge in nickel prices portrayed a major part in shaping the market, as manufacturers struggled to transfer these costs to end-users. An influx of imported steel products influenced supply dynamics, adding another layer of complexity. The construction sector provided a strong demand base, whereas manufacturing faced headwinds, creating a mixed pricing landscape.

The price trend for SMO254 in China for Q3 2024, reached 12,250 USD/MT in September. China’s market encountered a significant price decline, driven by fluctuating feedstock costs and demand-side challenges. Prices of critical inputs such as nickel, chromium, and iron saw variations, affecting overall market rates. The country’s steel industry remained resilient, with high-tech manufacturing sectors showing robust growth. Government measures aimed at economic stimulation, including fiscal policies and liquidity adjustments, supported business activity.

The price trend for SMO254 for Q3 2024 reached 16,350 USD/MT in September. Germany’s market faced a declining price trend, influenced by subdued industrial demand and economic uncertainties. The manufacturing sector struggled with falling order volumes, while the construction industry displayed signs of stabilization. A cautious purchasing approach dominated the market, limiting significant price recovery. Raw material cost increases, which typically drive higher demand, failed to shift market sentiment, as buyers remained hesitant.

SMO254 Prices Q2 2024

The SMO254 prices in the United States for Q2 2024 reached 14965 USD/MT in June. In the United States, SMO254 rates accelerated in the second quarter of 2024, majorly due to supply shortages and rising demand from the construction and automotive sectors. Geopolitical problems and rising raw material costs, mainly nickel, played a significant role in driving prices up. Logistical challenges, like accelerated shipping expenses thus increased manufacturing costs. Strong demand during the summer construction expansion further fueled the price increase, leading to a bullish market sentiment.

The price trend for SMO254 in China for Q2 2024 settled at 13540 USD/MT in June. In China, SMO254 rates saw major unpredictability in Q2 2024, primarily due to a slowdown in production and an oversupply of nickel. The weakening industrial demand, coupled with ongoing issues in the property industry, contributed to the pricing decline. Geopolitical tensions and increased shipping costs also exerted downward pressure. Despite no major problems in supply chains, the market sentiment remained negative, influenced by broader economic challenges and sector-specific issues.

In Germany, the SMO254 prices for Q2 2024 reached 16457 USD/MT in June. Germany experienced notable rate increases for SMO254 in the second quarter of 2024, propelled by accelerating expenses of raw materials, particularly nickel. The supply and geopolitical problems, including plant strikes, further strained supply situations. The orders from the automotive industry and construction sector remained strong, reinforcing the upward price trend. Seasonal changes had a minor impact as the overall market saw price growth, highlighting a positive outlook despite supply constraints and rising costs.

SMO254 Prices Q2 2023

The price of USA reached 12965 USD/MT during the second quarter of 2023. Whereas, the prices in China reached 13540 USD/MT in Q2 2023. Similarly, the SMO254 prices in Germany reached 15457 USD/MT during the second quarter of 2023.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the SMO254 price trend. 

Global SMO254 Price Trend

The report offers a holistic view of the global SMO254 pricing trends in the form of SMO254 price chart, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into SMO254 historical price, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into SMO254 price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed SMO254 demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe SMO254 Price Trend

Q4 2024:

The European SMO254 market, particularly in Germany, experienced a turbulent quarter as economic uncertainties and weak demand led to persistent pricing declines. Elevated stock levels pressured suppliers to implement aggressive discounting strategies, further dampening market stability. High borrowing costs and reduced public sector investments compounded the downturn, leading to diminishing orders in both construction and manufacturing. Despite brief improvements in select industries, overall market sentiment remained pessimistic due to stagnating business activity. As the sector navigates these headwinds, companies must focus on demand stimulation and regulatory adaptability to counteract the effects of prolonged economic strain.

Q3 2024:

The European SMO254 market faced downward pricing momentum in Q3 2024 due to weak demand and economic uncertainties. The slowdown in industrial activity, coupled with lower-than-expected recovery post-summer shutdowns, weighed on market sentiment. The construction industry showed some signs of resilience, particularly in Germany, where the property sector exhibited stabilization. However, declining order volumes and cautious purchasing behavior across key industries dampened overall demand. While raw material price fluctuations typically influence market dynamics, prevailing conditions led to a restrained buying approach.

Q2 2024:

The SMO254 market in Europe showed an ascending cost course in the second quarter of 2024, driven by accelerated raw material prices, especially nickel. Political conflicts and problems in supply worsened already strained supply situations, pushing rates upwards. A significant contributor to this market shift was labor strikes and delays in shipments within the European steel sector, particularly influencing key facilities like Acerinox’s Cadiz plant. The ongoing demand in the construction industry for durable materials further supported the increase in prices. Germany, a pivotal market, saw the most noticeable cost fluctuations, with supply scarcity exacerbated by accelerating orders from automotive and construction industries. Seasonal variations in demand had little effect, as the market's fundamental structural changes resulted in a steady upward movement, culminating in considerable price hikes by the quarter’s close.

Q4 2023:

European SMO254 prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for SMO254 can also be provided for an extensive list of European countries.

North America SMO254 Price Trend

Q4 2024:

During the final quarter of 2024, the North American SMO254 market encountered a difficult environment shaped by variable nickel values and broader economic headwinds. Manufacturers grappled with excess supply, leading to widespread price reductions in an effort to sustain competitiveness. Market conditions were further exacerbated by disruptions in export activities and natural calamities that affected industrial operations. Despite minor improvements in certain sectors like automotive sales and employment in construction, demand remained sluggish due to persistent high interest rates suppressing new housing projects.

Q3 2024:

In the third quarter of 2024, the North American SMO254 market saw an increase in pricing, primarily driven by external influences. A major factor was the rise in nickel prices, prompted by worldwide supply issues and increasing mineral expenses. This imposed significant strain on manufacturers, who found it difficult to transfer these rising costs to consumers. Moreover, the arrival of imported long carbon and alloy steel goods impacted supply-side dynamics, further influencing market conditions.

Q2 2024:

In the second quarter of 2024, SMO254 costs in North America followed a notable upward shift, mainly triggered by disruptions in supply. The limitations on Russian resources and geopolitical conflicts caused a significant deficiency in vital elements like nickel, which was further aggravated by functional obstacles at nickel extraction sites. Shipping obstacles, like rising freight charges, increased manufacturing costs. In the United States, the spike in demand from sectors like automotive, coupled with limited stock levels, amplified the optimistic market sentiment. The summer building rise added to the demand, intensifying price hikes as the period advanced. The link between restricted supply and growing orders caused continuous price increases.

Q4 2023:

The analysis of SMO254 prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific SMO254 historical data within the United States and Canada can also be provided.

Middle East and Africa SMO254 Price Trend

The report explores the SMO254 pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific SMO254 Price Trend

Q4 2024:

The Asia-Pacific market, particularly in China, encountered a volatile quarter marked by shifting demand patterns and persistent price declines. While government stimulus initiatives aimed to revive industrial activity, the construction sector continued to struggle amid broader economic adjustments. Inventory accumulation remained a significant challenge, forcing suppliers to adopt flexible pricing measures. Manufacturing indicators showed minor improvements, but this was insufficient to offset the larger downturn in construction-related demand. The automotive sector displayed resilience, yet overall market sentiment was weighed down by bearish forecasts.

Q3 2024:

The Asia-Pacific SMO254 market in Q3 2024 saw a noticeable price decline, driven by shifting raw material costs and sluggish demand. Prices of key feedstock materials, including nickel, chromium, and iron, fluctuated throughout the quarter, exerting downward pressure on market rates. High inventory levels further compounded the situation, limiting the scope for price recovery. Meanwhile, China’s steel demand exhibited resilience, with high-tech and advanced manufacturing sectors fueling expansion.

Q2 2024:

During the second quarter of 2024, the SMO254 cost environment in the Asia Pacific region demonstrated a descending pattern due to numerous demanding elements. Worldwide nickel availability interruptions impacted the total expense framework, and political conflicts, alongside elevated transport fees, intensified market strains. In China, where the largest cost variations took place, a deceleration in production operations, combined with an abundance of nickel, played a role in the drop-in rates. Reduced industrial requirements and persistent difficulties in the real estate industry worsened the cost decline. Despite consistent supply systems with no significant facility closures, the prevailing market outlook stayed pessimistic, further affecting the price reductions. The combined influence of these elements led to a tough period for SMO254 rates, highlighting the repercussions of wider economic and industry-specific difficulties.

Q4 2023:

The SMO254 pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This SMO254 price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America SMO254 Price Trend

The analysis of SMO254 prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

SMO254 Price Trend, Market Analysis, and News

IMARC's latest publication, “SMO254 Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the SMO254 market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of SMO254 at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed SMO254 price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting SMO254 pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

SMO254 Industry Analysis

The global SMO254 industry size reached 115.5 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 168.7 Thousand Tons, at a projected CAGR of 4.30% during 2023-2032.

• The oil and gas sector widely utilizes of SMO254, which is also known as 254 SMO. This is mostly owing to the fact that it possesses a distinctive resistance to pitting and crevice corrosion in environments that contain chloride substances. As per the IMARC GROUP, the global oil and gas market reached US$ 17.5 Billion in 2023, and is expected to reach US$ 65.8 Billion by 2032, expanding at a CAGR of 15.84% during 2024-2032. The demand for high-performance materials is constantly increasing since the sector is required to function in settings that are becoming increasingly extreme. Some instances of these environments include deep-water exploration and offshore platforms, specifically in high-salinity conditions, which are frequently encountered during subsea applications, the high molybdenum concentration of SMO254 offers an unmatched resistance against corrosion resistance. Other than this, owing to its substantial strength and endurance, it is an exceptional material used in the construction of pipelines, valves, and other essential infrastructure. This substantial growth in the oil and gas industry leads to the continued requirement for durable materials such as SMO254 that are able to endure extreme circumstances that are associated with offshore drilling and production.
• The desalination industry, which converts seawater into potable water, massively relies on materials that can endure the corrosive effects of seawater. The exceptional resistance qualities possessed by SMO254 against chloride-induced stress corrosion cracking makes it a popular choice for desalination plants. As global freshwater scarcity increases, the demand for desalination technologies is expected to grow continuously. As per a report by the UNITED NATIONS (UN), 2.3 billion individuals reside in water-stressed nations, of which 733 million reside in high and critically water-stressed nations. According to the IMARC GROUP, the market for desalination already reached $11.1 Billion by 2023, and is expected to exhibit a CAGR of 7.9% during (2024-2032), driven by the rising demand for reliable and durable materials like SMO254. Its application in complex parts such as reverse osmosis membranes and high-pressure pumps ensures the long-term viability and efficiency of desalination plants, thus propelling the market growth and the global effort to secure freshwater resources.

SMO254 News

The report covers the latest developments, updates, and trends impacting the price of SMO254, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the SMO254 price trend. 

Latest developments in the SMO254 industry:

• January 2025: Universal Stainless & Alloy Products , Inc. has confirmed the finalization of its previously disclosed acquisition by Aperam S.A. (the “Acquisition”), under which Universal shareholders are set to receive $45.00 for each share of Universal’s common stock in this all-cash deal.
• November 2024: Acerinox , a top worldwide firm in stainless steel and high-performance alloy manufacturing and distribution, finalized, via its fully owned U.S. subsidiary – North American Stainless (“NAS”) – the purchase of Haynes International (“Haynes”), a premier U.S. manufacturer and distributor of cutting-edge high-performance alloys.
• April 2024: On Tuesday, Shyam  Metalics and Energy Ltd declared plans to invest Rs 650-750 crore in its stainless steel sector in the upcoming years. The firm announced it will set up a cutting-edge stainless steel hot rolled coils (HRC) facility at its current plant in Sambalpur, Odisha.
• May 2024: Indal Stainless, India’s top manufacturer of stainless steel, revealed  significant expansion and acquisition strategies aimed at enhancing its melting and downstream capacities, aspiring to rank among the largest stainless steel producers globally. The firm revealed a three-fold investment plan valued at almost INR 5,400 crores to attain worldwide dominance in stainless steel.
• June 2023: Outokumpu , the worldwide leader in stainless steel, is collaborating with Nordic Steel, Norway's top competence center in steel, to launch sustainable stainless steel in Norway. Outokumpu’s Circle Green represents the most sustainable stainless steel globally, featuring a carbon footprint that is up to 92% lower than the industry average.

Product Description

SMO254, also known as 254 SMO or UNS S31254, is a high-alloy austenitic stainless steel with exceptional corrosion resistance and strength. It contains high levels of chromium, molybdenum, and nitrogen, which contribute to its superior resistance to pitting and crevice corrosion, particularly in chloride-rich environments. The typical composition includes approximately 20% chromium, 18% nickel, 6% molybdenum, and 0.20% nitrogen.

The manufacturing process of SMO254 involves several stages to ensure its high performance. Initially, the raw materials are melted together in an electric arc furnace. This molten mixture is then refined through argon oxygen decarburization (AOD) to remove impurities and achieve the desired chemical composition. The refined molten metal is cast into slabs or billets, which are subsequently hot-rolled and annealed to enhance their mechanical properties and grain structure. The final product may undergo further processes like cold working and surface finishing, depending on the intended application.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of SMO254 pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting SMO254 price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The SMO254 price charts ensure our clients remain at the forefront of the industry.