[SMM Stainless Steel Market Flash] Indonesia Stainless Steel Export Prices Cut Another $40/t as Seasonal Slowdown Bites

Published: May 28, 2026 17:53

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Indonesian stainless steel producers have cut export offer prices by a further $40/t on May 28, 2026, following an initial reduction in mid-May that broke a six-consecutive-month run of price increases. The cuts reflect a confluence of bearish pressures: the market has entered the traditional Q2 seasonal slowdown, with downstream buying interest subdued and buyers broadly in wait-and-see mode. At the same time, elevated mill and social inventories — built up during a period of high-margin production — are adding to downside pressure. With multiple headwinds converging, Indonesian producers have been forced into successive downward price corrections.

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