Nickel ore inventories at Chinese ports fell 153,000 wmt to 9.14 million wmt

According to an order from the Indian Ministry of Steel on March 31, 2026, the government has officially granted an exemption from mandatory input adherence for three specific Indian Standards of stainless steel flat products. This exemption specifically applies to products falling under IS 6911, IS 5522, and IS 15997. The Ministry noted that this decision was made in response to representations received from stainless steel importers. The exemption will be valid for all imports possessing a Bill of Lading with a "shipped on board" date on or before September 30, 2026.

Wuzhou Yongda Stainless Steel Project secured 2.55 million yuan in central government funding. Meanwhile, Guangdong Zhongqing Environmental Protection received approval for its 600,000-ton/year stainless steel scrap recycling project, which includes sorting and baling production lines. On the raw materials front, Indonesian ferronickel has successfully arrived at Jiangsu ports and entered warehouses, ensuring a steady supply for the domestic market.

Shandong Xinbaocheng Heavy Industry is accelerating its 80,000-ton heavy steel structure project, a key link in the regional stainless and special steel supply chain. With a 350 million yuan investment, the facility began construction in February 2026. The first workshop is slated for June, with full production expected by December.