[SMM Stainless Steel Flash] Indonesia's New Taxes Drive Nickel Surge, Chinese Taiwan's Stainless Steel Prices Remains

Published: May 28, 2026 15:25 (GMT+8)

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Indonesia's aggressive regulatory push, extending beyond ore export bans to include production quota cuts, tax reforms, and tight export controls, has driven global nickel prices sharply higher. Jakarta now plans a floating export duty and windfall tax of 14–19% on low-processed nickel products to curb tax evasion and smuggling. While these policies pushed stainless steel prices to near-unacceptable highs earlier this year, downstream buying appetite weakened noticeably in May. Faced with persistent cost pressures but sluggish demand, Chinese Taiwan's stainless steel mills are widely expected to issue flat or marginally higher price lists for June, steering clear of sharp increases that could trigger buyer resistance.

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