[SMM Stainless Steel Flash] Indonesian Stainless Mill Suspends Offers

Published: May 6, 2026 11:23

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On May 6, 2026, Indonesian stainless steel mill suspended all export quotations in response to surging production costs. According to SMM research, the implementation of Indonesia's new HPM pricing formula has funneled upstream mining premiums directly into the smelting sector. Combined with expected supply tightening due to mine maintenance in May, cost-side support has intensified. Prior to the suspension, 304 CRC FOB export offers had already reached a high of $2,197/mt. Industry analysts view this halt as a strategic move to prepare for a fresh round of price hikes driven by persistent raw material inflation.

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