[SMM Stainless Steel Flash] JISCO Successfully Mass-Produces 347H Stainless Steel Plates for CSP Applications

According to SMM data, on May 22, the FOB price of Indonesian MHP nickel fell by $89/mt Ni from the previous day, while the FOB price of Indonesian MHP cobalt rose by $30/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $29/mt Ni from the previous day.

China's MIIT has updated its capacity replacement regulations, bringing stainless steel under full regulatory oversight for the first time. The policy enforces a nationwide 1.5:1 replacement ratio, eliminating regional exemptions, with a 1.25:1 ratio applicable only for mergers. Cross-enterprise capacity trading will be banned after a two-year transition ending in 2028, with future transfers requiring structural acquisitions. Approvals lapse if construction does not begin within 24 months. The rules crack down on illegal induction furnace expansion, targeting the sector's historically sub-75% utilization rate. Output growth is expected to slow to 1–2% annually, driving out inefficient small producers while enabling some major mills to consolidate through reorganization incentives.