[SMM Stainless Steel Flash] EU Fastener Distributors Warn CBAM Acts as Penalty Tariff; Import Costs Surge Up to 50%

The Indonesian Nickel Industry Forum (FINI) has formally voiced its objection to the ESDM's revised HPM formula, warning that the resulting spike in ore prices could derail Indonesia's downstream development. FINI Chairman Arif Perdana Kusumah highlighted that the domestic smelting sector is already struggling with surging costs for sulfur, energy, and logistics; adding a multi-element valuation (Ni, Co, Fe, Cr) to raw materials creates a "double burden" when combined with proposed export duties on processed nickel. Furthermore, FINI argues that the new pricing logic, based on theoretical in-situ recovery rates rather than real-world economic margins, severely strains operational cash flow and risks stalling both existing operations and future expansion projects across the archipelago.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 15 Apr , 2026