[SMM Stainless Steel Flash] Italian stainless scrap edges up on tight supply as mill demand stays weak

India's stainless finished market was mixed in the week ended 7 October. 304 HR coil eased slightly while 316 HR coil rose despite softer nickel, supported by tight 316 scrap and high molybdenum costs; 316 black bar fell. Pre-Diwali restocking may lift October activity, though volatile nickel and freight costs keep buyers cautious.

Qatar's October 2026 sulfur contract price is $835/mt (FOB), down $45/mt MoM; Kuwait Petroleum Corporation set it at $820/mt (FOB), down $45 MoM; Abu Dhabi National Oil Company set it at $890/mt (Ruwais FOB), down $70 MoM.

In August 2026, Indonesia's total monthly sulphur imports were 275,300 mt, down 62.1% MoM and down 27.7% YoY. The main import sources were Canada (76,100 mt), Kuwait (50,900 mt), Qatar (36,700 mt), the UAE (31,600 mt), India (26,400 mt), the US (24,600 mt), South Korea (6,900 mt), Japan (5,200 mt), Singapore (5,000 mt), China, Saudi Arabia, Taiwan, China, the UK, Oman, Vietnam, and Malaysia. Indonesia's total monthly sulphur exports were 139 mt, down 50.1% MoM and up 139 mt YoY. The main export destinations were Malaysia (115 mt), Hong Kong, China (24 mt), and the US. Indonesia's total monthly sulphuric acid imports were 72,600 mt, up 72,600 mt MoM and up 35.3% YoY. The main import sources were India (44,100 mt) and South Korea (28,500 mt). In August, Indonesia had no sulphuric acid export records. For details, please refer to the SMM analysis.