[SMM Stainless Steel Flash] Indonesia Stainless Steel Mills Raise Prices by $55/mt

According to SMM, driven by changes in upstream raw material policies and strong cost support, mainstream Indonesian stainless steel mills have significantly raised their prices by $55/mt today.

The core reason for this major price adjustment is the recent announcement by the Indonesian Ministry of Energy and Mineral Resources (ESDM) to increase the benchmark price of nickel ore (HPM) and implement a completely new pricing formula. The execution of this new pricing mechanism has directly driven up procurement costs for nickel smelting. Under immense cost pressure, mainstream stainless steel mills have strongly pushed up their offers.