We introduce a new formulation for a cutting stock problem in the stainless steel industry. The formulation extends some previous models developed for the paper industry. In this formulation, mother coils are assumed to have finite lengths, and the widths and lengths of the mother coils are considered variables as well as the lengths of the product coils along with the cutting patterns to be used. To enable reuse of scrap material, the trim loss at the end of a mother coil is preferred and collected into a single coil. Finally, the scattering of an order to multiple mother coils is minimized to facilitate the shipping of the order in a single batch. For numerical solution, the inherently nonlinear problem is transformed to a linear one by a decomposition technique. The procedure is illustrated with numerical examples. The presented model has been successfully utilized in large scale industrial environment as a part of the production planning system developed for Outokumpu Stainless by Accenture.