[SMM Stainless Steel Flash] EU Steel Safeguard Reached Amid Indonesia's Nickel Pricing Overhaul

Published: Apr 17, 2026 09:44

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EU reached a trilogue agreement on new steel safeguards, featuring an 18.3 million tonne quota, a 50% out-of-quota tariff, and "melt-and-pour" rules. However, critics highlight a loophole for slabs and potential WTO compliance issues. Simultaneously, Indonesia's complete overhaul of its nickel pricing architecture is expected to hike downstream production costs for stainless steel and EVs by over 12%. Following these shifts, base metals surged on both LME and SHFE, with nickel leading gains by nearly 4%. Market volatility remains high as the industry adapts to these structural cost increases and trade barriers.

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