Nickel Market Stable as Suppliers Hold Firm, Demand for High-Nickel Materials Persists Amid Weak Futures

In March 2026, Chinese Taiwan’s stainless steel wire rod trade saw a robust recovery. Imports rose 38.6% month-on-month to approximately 1,200 tons, the highest level in over a year. Exports jumped 66.2% to about 10,200 tons, crossing the 10,000-ton threshold for the first time since last September. This volume growth was matched by rising prices, with export values hitting a 10-month high. The synchronized growth in both volume and price marks a significant shift from previous market volatility, signaling an overall improvement in business conditions.

A leading Indian stainless steel producer has launched a pilot program in Punjab, marking its first entry into the stainless steel rebar retail segment. The initiative aims to provide high-performance construction solutions directly to end-users. These rebars feature superior corrosion resistance, high strength, and durability, making them ideal for critical infrastructure such as coastal developments, metro projects, and premium real estate.

[SMM Nickel Flash] April 23 — According to SMM, the average nickel content of NPI continued its downward trend in April. Currently, the minimum procurement and sales requirement of multiple steel mills and traders had dropped from 11.5% to 11%. NPI with nickel content below 11% had long maintained a discount, and the discount was expected to widen further. Currently, NPI with nickel content below 11% had already seen offers at a discount of 20 yuan/nickel unit to the SMM average price. Meanwhile, NPI with nickel content of 11.5% and above 12% continued to maintain a high premium.