[SMM Stainless Steel Flash] Overseas Momentum Pushes Chinese Taiwan's Stainless Steel Prices

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 28 May , 2026

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.

Driven by rising price expectations, resilient Southeast Asian infrastructure demand, and the release of backlogged foreign orders, China's stainless steel exports rose 27.1% MoM to approximately 394,000 tons in April, with cold-rolled coils leading shipment growth. Vietnam emerged as the top buyer at 66,000 tons, its second-highest single-month volume on record; while India's imports hit a 19-month high of 36,000 tons, supported by an extended BIS certification exemption to fill domestic supply gaps. Easing regional tensions also drove China's Middle East exports up 45.7% MoM to 43,000 tons.