[SMM Stainless Steel Daily Review] SS Futures Retreated after Rapid Rise on First Day after Qingming Festival, Stainless Steel Spot Quotes Remained Stable SMM April 7 — SS futures retreated after a rapid rise. After the morning opening, SS futures once surged rapidly before being dragged down by the decline in non-ferrous futures, closing at 14,135 yuan/mt by the midday close. Spot market side, affected by the overall fluctuations in futures, spot traders continued to maintain a strategy of holding prices stable for shipments. Downstream end-users remained cautiously on the sidelines, purchasing mainly based on rigid demand, with mediocre inquiry and trading activity, and market quotes remained generally stable. The most-traded SS futures contract retreated after a rapid rise. At 10:15 AM, SS2605 was quoted at 14,200 yuan/mt, up 50 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area were in the range of 220-420 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi remained flat; for cold-rolled trimmed-edge 304/2B coils, the average price in Wuxi remained flat and in Foshan remained stable; cold-rolled 316L/2B coils in Wuxi remained flat; for hot-rolled 316L/NO.1 coils, Wuxi quotes remained flat; cold-rolled 430/2B coils in both Wuxi and Foshan remained stable. The stainless steel market is currently in the traditional peak consumption season of "Golden March and Silver April." Downstream demand fundamentals recovered compared with the earlier period, with end-user purchases continuing at a rigid-demand pace, and overall trading volume was sufficient to hold quotes firm. However, affected by macro news disturbances and futures fluctuations, downstream end-user clients still held a wait-and-see sentiment with no willingness to stockpile, and trading fluctuated with changes in news. Futures...

According to market reports, a leading stainless steel manufacturer in Taiwan has announced further price increases for its April products, marking a continuous upward trend since December 2025. The company raised its 304 series and 316L surcharges by approx. $125/mt (NT$4,000) and 430 series by $47/mt (NT$1,500). Over the past five months, the cumulative price growth for 304 products has reached $609/mt (NT$19,500). The mill attributed the hike to escalating Middle East conflicts driving up global energy costs, tightening supply chains for ferroalloys and scrap, and higher nickel pig iron prices due to proposed Indonesian export duties. Rising raw material expenses and fluctuating exchange rates have significantly increased overall production costs.

[SMM Daily Review: Market Transaction Prices Further Decline, Short-Term Nickel Pig Iron Prices May Be in the Doldrums] On June 13, the average price of SMM 8-12% high-grade NPI was 933.5 yuan/mtu (ex-factory, tax included), down 5.5 yuan/mtu from the previous working day...

This week, the average price of SMM8-12% high-nickel pig iron was 953.3 yuan per nickel point (including tax, ex-factory), marking an increase of 6 yuan per nickel point compared to last week. Overall, the price of high-nickel pig iron has shown a slight upward trend this week.

This week's average price for SMM 8-12% high-grade nickel pig iron (NPI) reached 947.3 RMB per nickel point (ex-factory, including tax), an increase of 5.4 RMB per nickel point compared to last week. This indicates a stabilization and recovery trend in the high-grade NPI prices following recent fluctuations.

SMM prices of Indonesian nickel ore have remained generally stable this week. NPI prices showed a rebound trend during this week

This week, the average price of SMM 8-12% high-nickel pig iron was 941.9 yuan per nickel point (including tax, ex-factory), which is a decrease of 8.2 yuan per nickel point compared to last week. The price of high-nickel pig iron continues to face significant pressure.

This week, the average price of SMM 8-12% high-nickel pig iron is 950.1 RMB per nickel point (tax-included, ex-factory), which represents a decrease of 17.4 RMB per nickel point compared to the average price last week. The price of high-nickel pig iron continues its previous downward trend.

Indonesian nickel pyrometallurgical ore prices continues to slightly increase, while hydrometallurgical ore prices experience a downward trend. For high-grade NPI, this week's price pressure still persists

[SMM Flash Report] April 30 – According to price data released on April 30, the price range for Indonesian high-grade nickel pig iron (NPI) with 12–14% nickel content (CIF, including tax) is USD 117.71–118.92 per wet metric ton, with an average price of USD 118.31/wmt. For Indonesian NPI with 10–12% nickel content (CIF, including tax), the price range is USD 116.86–118.31 per wet metric ton, with an average price of USD 117.59/wmt. Compared to the previous month, the average price for 12–14% NPI decreased by 6.3%, while the average price for 10–12% NPI dropped by 6.37%.