In recent years, Indonesia has become an important supply and export hub for the global stainless steel industry. With the continuous improvement of local stainless steel production capacity, the export volume of Indonesian 304 series stainless steel coils has grown rapidly. These products are widely exported to major markets in Asia, Europe, and the Middle East, playing an increasingly important role as a pricing reference in the global trade system.
Currently, the FOB quotations for Indonesian 304 series products have become a key indicator in international stainless steel trade. This is particularly true in the hot-rolled and cold-rolled coil sectors, where it has a significant impact on regional and global price linkages. To further enhance SMM's overseas price system, increase market transparency, and meet the reference needs of the upstream and downstream industry chain for Indonesian export prices, SMM has decided:
Effective from November 14, 2025, SMM will officially launch:
"304/2B Coil-EM,FOB Indonesia,USD/tonne" and "304/NO.1 Coil-EM,FOB Indonesia,USD/tonne".
Price specifications:
- Description: 304/2B Coil-EM,FOB Indonesia,USD/tonne
- Quality: Standard thickness 2mm, thickness range 1.5-2.0mm, width 1240mm, burr edge, compliant with ASTM A480/A480M
- Definition: FOB Indonesia main ports
- Unit: USD/tonne
- Quantity: Minimum 20 tonnes
- Timing: 1-3 Months
- Publication: Daily, by 11am Jakarta Time
- Payment Terms: L/C/TT at sight in USD, or other payments normalized
- Description: 304/NO.1 Coil-EM,FOB Indonesia,USD/tonne
- Quality: Standard thickness 4mm, thickness range 4.0-8.0mm, width 1520mm, burr edge, compliant with ASTM A480/A480M
- Definition: FOB Indonesia main ports
- Unit: USD/tonne
- Quantity: Minimum 20 tonnes
- Timing: 1-3 Months
- Publication: Daily, by 11am Jakarta Time
- Payment Terms: L/C/TT at sight in USD, or other payments normalized
SMM Nickel & Stainless Steel Industry Research Department
November 13, 2025