SHANGHAI, Sep 3 (SMM) – Spot prices of #300 and #400 stainless steel extended their increases on Tuesday September 3 as prices of nickel, raw material to produce stainless steel, surged this week after advanced Indonesia export ban sparked fears of ore supply disruption.
As of Tuesday September 3, quotes of #300 series in Wuxi of Jiangsu province climbed 100-300 yuan/mt on the day, extending a rally of 400-550 yuan/mt on Monday.
Relatively tight supply also helped fuel the rebound in prices of #400 series, which grew an average 100 yuan/mt from last Friday to stand at 8,000-8,100 yuan/mt in Wuxi as of Monday September 2
Prices of stainless steel scrap also moved higher on stable purchases, with strong performance expected in the near term.
SMM assessed that prices rose 300-400 yuan/mt from last Friday to stand at 10,450-10,700 yuan/mt for #304 stainless steel casting scrap and at 9,900-10,100 yuan/mt for thin scrap materials.
![[SMM Éclair sur l'acier inoxydable] L'Inde prolonge de 6 mois l'enquête antidumping sur les aciers inoxydables laminés à froid en provenance de Chine, d'Indonésie et du Vietnam](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
![[Analyse SMM] Les réductions de production en Indonésie et la prudence avant les fêtes ralentissent la baisse des prix de la NPI](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
![[SMM Analysis] La demande en aval ne montre aucune amélioration alors que les prix des produits intermédiaires de nickel divergent](https://imgqn.smm.cn/usercenter/OjGlE20251217171734.jpg)
