[SMM Stainless Steel Flash] End of 6-Month Rally: Indonesia Stainless Steel Export Prices Reduce by USD30/ton on May 19

Published: May 19, 2026 09:08

Save

Following a continuous six-month upward trajectory that began in December 2025, fueled by Indonesia's new HPM nickel ore pricing formula and tight mining quotas, Indonesian stainless steel export offers have finally experienced their first correction. On May 19, 2026, the leading Indonesian stainless steel mill reduced its export quotations by USD30/mt. Industry experts note that while high nickel ore and NPI costs provided a solid floor for months, persistent weakness in downstream manufacturing demand across Chinese Taiwan and Europe has ultimately forced mills to compromise, snapping the half-year price surge.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM Analysis] May 2026 Global (Ex-China) Stainless Steel Market Review, Indonesia Export Six-Month Rally Ends

The global stainless steel market navigated a series of sharp sentiment. The opening weeks saw Indonesia's mill closures and price hikes push the cost narrative to its highest point of the year, before a combination of easing geopolitical tensions triggered the first price reduction since December 2025. The month's defining characteristic was similar to April's. What differentiated May was the sharply higher amplitude of both the policy signals and the emotional swings that accompanied them.

1 hour ago

Nickel Market Sees Stable Futures, Tightening Spot Liquidity, and Cautious Trading Amid Price Resistance

[SMM Nickel News] June 15 update: Floor trading still mainly adopts the futures average price plus premium model, and spot cargo liquidity is tightening. Overall, with futures stabilizing and market sentiment recovering, suppliers' willingness to hold prices firm is strengthening, but downstream procurement pace is cautious, and landing of high-priced supply still faces resistance. In the short term, the market may continue the trend of firm offers and mild trading game.

1 hour ago

3 hours ago

Data: SHFE, DCE market movement (Jun 15)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 15 Jun , 2026

3 hours ago