[SMM Stainless Steel Flash] Major Indonesian Stainless Mill Suspends Offers After New HPM Formula Revision

Published: Apr 14, 2026 16:17

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Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has officially issued Ministerial Decree No. 144.K/MB.01/MEM.B/2026, revising the calculation formula for the nickel ore benchmark price (HPM). Following the update, a major Indonesian stainless mill suspended offers today, with the market expecting higher stainless prices.

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