Indonesia: Tsingshan lifts 304 stainless steel export prices in Apr’26 on rising nickel costs

Indonesia’s Tsingshan Holding Group increased 304-grade stainless steel export prices by $30/t, effective 24 Apr’26, reflecting elevated nickel costs following Indonesia’s mining quota cuts and revised ore pricing mechanism (HPM). The move comes amid tightening nickel fundamentals, with the market projected to shift to a 32,000 t deficit in 2026 from a surplus of around 283,000 t in 2025, supporting upstream cost escalation.