[SMM Stainless Steel Flash] Indonesian Major Mill Hiked 316 Export Price by $100/t Amid Tight Molybdenum Supply

The Indonesian Nickel Industry Forum (FINI) has warned that the newly signed Agreement on Reciprocal Trade (ART) with the US must not disrupt the existing nickel ecosystem, which is currently dominated by Chinese investment. The pact, signed on February 19, mandates that Indonesia implement production restrictions on foreign-owned facilities to align with national mining quotas. Simultaneously, the Indonesian government has slashed the 2026 nickel ore production quota to 260–270 million tonnes (down from 379 million tonnes in 2025) to preserve reserves and combat structural oversupply. Notably, the approved quota for PT Weda Bay Nickel was cut from 42 million tonnes to just 12 million tonnes.

A major mainstream stainless steel producer in Taiwan announced yesterday that it will raise its domestic list prices for March sales to offset rising production expenses and anticipated demand recovery. For March deliveries, the mill has increased the prices of 304-series hot-rolled and cold-rolled products, as well as surcharges for 316L, by TWD 2,000/mt ($64/t), while 430-series prices were raised by TWD 1,000/mt. This decision reflects a cumulative three-month price hike across the region's leading mills, driven by firm support from raw material costs and significant production cuts in Indonesia. The optimistic outlook is further bolstered by regional economic growth fueled by the AI infrastructure boom, which is increasingly driving demand for high-end stainless steel alloys.

The India-Indonesia Critical Minerals Conference was held on February 24, 2026, organized in collaboration with the India-Indonesia Chamber of Commerce (IndCham). During the keynote statement, Indonesia’s Vice Minister of Communication and Digital Affairs, Nezar Patria, emphasized the vast potential for collaboration in critical minerals, highlighting that the partnership extends beyond natural resources to include digital transformation and modern governance. The event brought together government officials, industry leaders, and mining associations to discuss securing supply chains for essential materials like nickel, lithium, and rare earths, which are vital for the global energy transition and the production of stainless steel and electric vehicles.