[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

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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.

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