Indonesian MHP Nickel Prices Fall, Cobalt and High-Grade Nickel Matte Rise on July 13

According to the BIR Stainless Steel & Special Alloys Committee's latest report, EU CBAM and steel safeguard measures have significantly protected the European market from global overcapacity, with import penetration reportedly falling by around half in early Q2. Despite this, standard stainless steel scrap prices have weakened due to holiday shutdowns, maintenance outages, increased slab imports, softer order intake, and lower nickel prices partly linked to Indonesia's consideration of higher mining quotas. European mills maintain conservative production and cautious scrap purchasing, with limited availability providing some floor support. In Asia, Taiwan's high summer electricity costs have dampened scrap demand; South Korea stabilized post-maintenance; India prioritizes domestic recycled material amid LME volatility and elevated freight costs, though domestic supply remains insufficient. US industrial sectors continue generating healthy scrap volumes, while the Middle East market remains resilient despite geopolitical headwinds, with GCC demand supported by infrastructure and energy projects. High-quality, traceable scrap continues to attract firm demand regardless of near-term nickel price fluctuations.

Luxembourg-based stainless steel producer Aperam has published its alloy surcharge adjustments for European austenitic stainless steel flat products for July, effective July 1, 2026. The surcharge for 304 decreased to EUR 2,339/ton from EUR 2,365/ton in June; 316L rose to EUR 4,089/ton from EUR 4,056/ton; 309S declined to EUR 3,151/ton from EUR 3,192/ton. Ferritic grade 409 edged up slightly to EUR 919/ton from EUR 917/ton.

China's TISCO has successfully developed a specialized cryogenic membrane stainless steel for LNG vessels, breaking international technological monopolies in the segment. The material has received GTT certification and approvals from multiple classification societies, enabling deliveries to five major Chinese shipyards for use in over 30 LNG carriers. The 18% chromium, 10% nickel austenitic stainless steel maintains toughness, corrosion resistance, and structural stability at -163°C, with a 1.2mm corrugated design that absorbs thermal expansion and contraction stress to accelerate shipbuilding timelines. Compatible with the MARK III LNG cargo containment system, the product has entered active commercial supply, marking a significant milestone for China's advanced marine-grade specialty steel in the energy and shipbuilding sectors.