SMM #1 Refined Nickel Price Falls by 250 Yuan/MT, Jinchuan Premiums Drop 100 Yuan/MT

China's TISCO has successfully developed a specialized cryogenic membrane stainless steel for LNG vessels, breaking international technological monopolies in the segment. The material has received GTT certification and approvals from multiple classification societies, enabling deliveries to five major Chinese shipyards for use in over 30 LNG carriers. The 18% chromium, 10% nickel austenitic stainless steel maintains toughness, corrosion resistance, and structural stability at -163°C, with a 1.2mm corrugated design that absorbs thermal expansion and contraction stress to accelerate shipbuilding timelines. Compatible with the MARK III LNG cargo containment system, the product has entered active commercial supply, marking a significant milestone for China's advanced marine-grade specialty steel in the energy and shipbuilding sectors.

Steel Authority of India Limited (SAIL) and Indonesia's PT Krakatau Steel have signed a joint venture agreement to establish a stainless steel slab plant in Indonesia with an annual production capacity of 500,000 tonnes. The project aims to strengthen industrial cooperation between the two companies and support the development of stainless steel production in Indonesia, with the planned facility focused on manufacturing stainless steel slabs for further processing and downstream applications. The partnership marks a significant step in expanding regional stainless steel manufacturing capabilities and reflects growing India-Indonesia collaboration in the steel sector.

The Eurasian Economic Commission has extended anti-dumping duties on seamless corrosion-resistant (stainless) steel pipes from Ukraine until April 29, 2027, following a review initiated on April 30, 2026. The measures were originally set to expire on September 6, 2026. The review was requested by local pipe manufacturers TMK, TMK-Inox LLC, and Kiberstal, backed by Kazan Pipe Rolling Plant LLC. Ongoing duty rates range from 4.32% to 18.96% depending on the manufacturer, covering products under HS codes 7304 41 and 7304 90 series.