According to market research, European stainless steel producers successfully lifted prices in March, driven by rising scrap costs, volatile energy prices, and limited import competition. Transaction prices for grade 304 cold-rolled coil reached an 18-month high as all European producers implemented month-on-month increases. Domestic mills are seeing improved order books, with lead times now extending into June and some delivery delays reported, particularly for ferritic materials. Producers are targeting further increases for July production, with some offers for grade 304 cold-rolled sheet already around $2,916/mt (EUR 2,700). Market participants note that mills aim for a target selling price of approximately $3,240/mt (EUR 3,000) in the coming months.

According to market reports, European stainless steel alloy surcharges have seen a significant increase for April 2026. Surcharges for Grade 1.4301 (304) rose by approximately 3.6%, notably diverging from LME nickel prices, which actually declined by nearly 1% month-on-month. The primary catalyst behind this surge is the escalating price of ferrochrome, fueled by higher procurement costs, elevated energy prices, and the compounding financial impact of the CO2 tax under the CBAM, fully effective since January 1, 2026. This cost-push is most evident in chrome-heavy grades, with the surcharge for Grade 1.4016 (430) jumping by more than 5.4% compared to the previous month.

February 2026 proved to be a pivotal month of challenge and adjustment for the global stainless steel market. Driven by the compounding pressures of the Carbon Border Adjustment Mechanism (CBAM), intensifying geopolitical trade friction, significantly tightened raw material quotas, and sudden supply chain disruptions, the market navigated a complex landscape.

[SMM Flash News] SMM reported on May 15 that despite facing geopolitical uncertainties and import pressures, European stainless steel giants Acerinox and Outokumpu achieved improved operating performance in Q1 2025. Acerinox's quarterly production increased by 29% QoQ to 512,000 mt, with revenue reaching 1.6 billion euros and earnings before interest, taxes, depreciation, and amortization (EBITDA) climbing to 102 million euros. The company expects EBITDA to continue growing in Q2 and has raised its expectations for synergies from strategic integration. Outokumpu's stainless steel shipments increased by 11% QoQ to 470,000 mt, with adjusted EBITDA reaching 49 million euros, driven by cost optimization and strong performance in its ferrochrome business. Although the strike in Finland impacted performance, the company expects shipments to continue growing in Q2, with EBITDA remaining stable—raw material gains are expected to offset potential equipment maintenance costs.

[SMM Analysis Flash: Indonesian NPI Exports to Rise by 13% YoY in 2024, Overseas Export Scope May Continue to Expand in 2025] According to the Directorate General of Customs and Excise, Indonesia's total NPI exports in January-December 2024 were approximately 9.6422 million mt, up by about 13% YoY. Exports to China totaled approximately 9.1563 million mt, accounting for 94.96% of Indonesia's annual exports, up by about 9.4% YoY...

【Outokumpu Lowers March Stainless Steel Flat Product Alloy Surcharge】 European stainless steel producer Outokumpu announced the stainless steel flat product alloy surcharge for March 2025. In Europe, 304 was adjusted to 2,101 euros/mt, down 17 euros/mt MoM; 316L was adjusted to 3,484 euros/mt, down 38 euros/mt MoM; 430 was adjusted to 1,067 euros/mt, down 10 euros/mt MoM.