Based on current market signals through the first half of 2025 and our analysis of mill quotations, stainless raw-material indices, and regional surcharges, 403 stainless steel coils remain priced appreciably below mainstream 300-series cold-rolled coils (e.g., 304) but above plain carbon coils — typically ranging from roughly USD 1,600 to USD 2,900 per metric ton depending on region, specification, and order conditions. These numbers are indicative: actual bids depend on coil thickness, temper, surface finish, volume, logistics, and contractual terms.
What is 403 stainless steel?
We use the designation 403 (UNS S40300 / AISI 403) for a martensitic stainless steel characterized by ~11.5–13.5% chromium with low nickel content and relatively low carbon compared with cutlery grades. It is a heat-treatable grade that can be hardened by quenching and tempered to reach a wide band of strength and hardness values, which is why it is supplied both as cold-rolled coil and as tempered/hardened strip.
Chemistry and microstructure
403’s corrosion resistance comes principally from chromium content (≥ ~11.5%). It belongs to the martensitic family of stainless steels — steels that transform to a body-centered tetragonal martensite when quenched from the austenitizing range. Because martensitic grades can be heat treated to increase hardness, they are commonly used where strength and wear resistance are more important than maximum corrosion resistance. For an overview of martensitic stainless metallurgy see standard references.
Key practical consequences:
-
Hardening is possible (quench + temper) — buyers should confirm heat-treatment state.
-
Corrosion resistance is moderate — not equal to 300-series austenitics in chloride environments.
-
Magnetic response — unlike austenitics, 403 is magnetic when in martensitic condition (useful for non-destructive testing and design considerations).
Coil forms, surface finish and temper commonly supplied
Manufacturers supply 403 in several coil/strip/plate forms. The common coil forms important to procurement are:
-
Cold-rolled coil (CRC) — typical thickness range 0.3–2.0 mm for strip and coil.
-
Hot-rolled coil (HRC) — thicker gauges, less surface finish.
-
Pre-tempered or annealed coil — check if material is supplied soft (for later hardening) or pre-hardened.
-
Surface finishes — mill (2B), polished, or skin-passed finishes are available; polished coils command premiums.
Always specify thickness tolerance, width, and finish in the RFQ to avoid ambiguous bids. Manufacturer product pages and data sheets list these offerings.
Mechanical and corrosion performance
Representative mechanicals for AISI 403 (annealed) are in the region of tensile ~450–500 MPa and yield ~300 MPa, with elongation varying by temper. When tempered or precipitation treated, strength increases and ductility reduces. For fatigue and impact needs, request full mill test certificates showing tensile, hardness, and Charpy/impact results.
Corrosion guidance:
-
Good in dry atmosphere and fresh water.
-
Avoid prolonged exposure to chlorides and aggressive chemical environments without protective measures (coatings or cathodic approaches).
-
For food, marine, or highly corrosive environments, austenitic 304/316 are generally preferred despite higher price.
Typical industrial uses that determine demand
The practical markets driving 403 coil demand include:
-
Automotive components where tempered strength and magnetic properties matter (clips, shafts).
-
Power generation components (some turbine parts historically).
-
General engineering — fasteners, shafts, and certain structural elements where moderate corrosion resistance + heat-treatability are required.
-
Appliances and HVAC — where cost, formability and moderate corrosion resistance are acceptable.
Demand from these sectors is cyclical and tracks industrial production, vehicle sales, and energy projects — which affects coil pricing through 2025.
What controls 403 coil price
We consider the following the critical price drivers:
-
Raw material inputs: chromium and nickel movements; 403 has lower nickel than 300-series, so nickel volatility affects 403 less but chromium & scrap availability matter.
-
Mill product slate and base grade pricing: CRC and HRC spreads, and how mills price the 400-series versus 300-series.
-
Regional supply/demand balance: China domestic availability, Indian import parity, U.S. domestic mill capacity, and EU demand cycles all shift local quotes.
-
Logistics & premiums: freight, insurance, anti-dumping duties, VAT/ tariffs, and any mill or trader surcharges (e.g., processing, slitting).
-
Product spec: thickness, width, finish, certifications (e.g., mill tests, EN/ASTM), and special process requests (e.g., tempering) add cost.
-
Order size and packaging: MOQ, LTL vs FCL, palletizing, and export packaging change unit economics.
Because 403 contains less nickel than 304, it is typically priced below 304 CRC, but still above plain carbon coil due to chromium content and processing needs.
Market context — data points for 2024→2025
Recent industry reporting shows regional stabilization and divergence in 2025:
-
Asia (East Asia / China) saw CRC prices around USD 1,800–1,950/MT in early-2025 for mainstream grades, with 304 CRC CIF levels reported near ~USD 1,800–1,900/MT in some indices.
-
U.S. domestic CRC prices have been materially higher in 2025 vs Asia in many months (U.S. quoted levels above USD 3,000/MT in some series). These gaps reflect feedstock, capacity, and trade protection practices.
-
Independent price indexes (MEPS, IMARC, Fastmarkets, MetalMiner) show the same pattern: China pricing weaker than Europe/US, with India in between depending on import duties and local demand.
Interpretation for 403 coil: because 403 is a 400-series martensitic grade with lower nickel exposure, its base mill price typically tracks 430/400 family bands rather than 300-series. This produces a lower absolute price but the regional trend dynamics (China cheaper than US/Europe) hold true.
Global price comparison table — estimated reference bids
Methodology: we started from published regional CRC/coil index values in early-to-mid 2025 (market reports and price indices), then applied a conservative grade discount to reflect 403’s lower alloy/processing cost versus 304. The table below is indicative and intended for budgeting and RFQ preparation only; final quotes require full specs (thickness, temper, finish, MTC, delivery terms).
| Region | Indicative 403 Coil Price (USD / metric ton) | Notes / Basis |
|---|---|---|
| China (domestic mill FOB) | ~1,600 USD/MT | Based on China CRC ~1,830–1,900/MT (304 CRC indices) with ~10–15% grade discount. |
| India (domestic/ import parity) | ~2,000 USD/MT | India's stainless CRC averaged near 2,200–2,300/MT in Q2 2025; adjust for 403 discount. |
| Europe (mill/trader ex-works) | ~2,400 USD/MT | Europe CRC and cold-rolled coils remain above Asia; 403 priced below equivalent 300-series. MEPS/indices referenced. |
| USA (domestic) | ~2,850 USD/MT | U.S. domestic CRC premiums pushed US quotes higher in H1 2025; 403 would usually sit below 304 but still carry US mill premiums. |
| Middle East / Turkey (export basis) | ~2,300 USD/MT | Regional trading hubs reflect mixture of import parity and scrap availability. |
Important: these are ballpark figures for standard CRC coils (mill finish, common thicknesses, moderate order sizes). Add slitting, polishing, special tempering, small MOQs, or expedited freight and the landed cost can increase materially. Use the table for internal budgeting only — request formal mill/trader quotations with full terms.
Buying tips — specification checklist for RFQs
To get comparable and competitive bids we always include the following in an RFQ:
-
Exact grade designation: “AISI 403 / UNS S40300” and any equivalent national numbers (e.g., 1.4024 / SUS403).
-
Form & dimensions: coil diameter, ID/OD, width tolerance, thickness tolerance.
-
Temper state: annealed / pre-tempered / quenched & tempered.
-
Surface finish: 2B, NO.1, polished, skin-passed, pickled & oiled.
-
Mechanical & test requirements: tensile, yield, hardness, impact (if needed). Request MTC (EN 10204 3.1/3.2) where required.
-
Quantity & delivery terms: MT, number of coils, INCOTERMS, packaging needs.
-
Regulatory / compliance: RoHS, REACH, food-contact approvals (if applicable).
-
Third-party inspection: NDT, third-party witness for critical applications.
A tightly specified RFQ reduces hidden surcharges and avoids mismatched pricing.
Lead times, MOQ and packaging: effect on landed cost
-
Lead times: standard mills often quote 4–8 weeks depending on backlog and heat-treatment needs. Urgent slitting & tempering can add days and premiums.
-
MOQ: Mill MOQs for specialty grades vary; trader lots may be 5–10 MT. Small orders attract markups.
-
Packaging & export docs: export packaging, fumigation certificates, and customized labelling add to cost and should be included in landed cost calculations.
When comparing offers, request total landed cost (EXW + processing + freight + duties + VAT if applicable) rather than just mill ex-works.
Sustainability and recycling notes
Stainless steels are among the most recycled industrial metals. Chromium-bearing scrap and stainless scrap availability influence mill feedstock cost. Buyers focused on sustainability should request recycled content statements and consider scrap-backed indexing as a hedge on raw material volatility. The International Stainless Steel Forum publishes industry figures and sustainability guidance.
FAQs
Q1 — Is 403 stainless coil a good replacement for 304 to reduce cost?
A: Generally no for corrosive or food contact environments. 403 is less corrosion resistant than 304. Use 403 when heat-treatability and moderate corrosion resistance suffice; use 304 where superior corrosion resistance and formability are essential.
Q2 — How much cheaper is 403 versus 304?
A: Historically 403 sits below 304 by a grade discount that varies (often ~10–25%) depending on nickel and chromium index movements and regional supply. Use index values and current mill quotes to quantify for a given month.
Q3 — What finishing matters most for coil pricing?
A: Surface finish (2B vs polished), slitting, annealing/tempering, and tolerances are the main cost drivers. Polished and precision-slit coils can carry a significant premium over mill finish.
Q4 — Do trade duties materially change price by region?
A: Yes. Anti-dumping duties, import tariffs, and local VAT significantly affect landed cost and can eliminate cross-region arbitrage. Always model landed cost with duties.
Q5 — What documents should I require from the mill/trader?
A: Mill Test Certificate (MTC EN 10204 3.1/3.2), certificates of chemical & mechanical tests, surface inspection report, packing list, and where required, third-party inspection certificate. These reduce risk at acceptance.
