[SMM Stainless Steel Flash] Top Indian Stainless Steel Producer Enters Retail Market with Rebars

On April 23, 2026, Chinese Taiwan’s stainless steel wire rod exports surged 66% MoM to 10,230 tons, hitting a 15-month high. In India, a top producer launched a retail pilot for stainless steel rebars targeting infrastructure. Prices remain stable but firm; Indonesian 304 CRC FOB held at $2,112.5/mt, supported by tight nickel ore supply under the new HPM formula. While Asian buyers remain cautious, European mills are pushing for HRC price hikes of EUR 50-70/mt to offset rising procurement expenses, signaling a robust cost-driven floor for global stainless steel prices.

In March 2026, Chinese Taiwan’s stainless steel wire rod trade saw a robust recovery. Imports rose 38.6% month-on-month to approximately 1,200 tons, the highest level in over a year. Exports jumped 66.2% to about 10,200 tons, crossing the 10,000-ton threshold for the first time since last September. This volume growth was matched by rising prices, with export values hitting a 10-month high. The synchronized growth in both volume and price marks a significant shift from previous market volatility, signaling an overall improvement in business conditions.

[SMM Nickel Flash] April 23 — According to SMM, the average nickel content of NPI continued its downward trend in April. Currently, the minimum procurement and sales requirement of multiple steel mills and traders had dropped from 11.5% to 11%. NPI with nickel content below 11% had long maintained a discount, and the discount was expected to widen further. Currently, NPI with nickel content below 11% had already seen offers at a discount of 20 yuan/nickel unit to the SMM average price. Meanwhile, NPI with nickel content of 11.5% and above 12% continued to maintain a high premium.