Indonesia: Tsingshan raises stainless steel prices by $50/t on rollout of new nickel pricing formula

Tsingshan increased Chinese stainless steel prices by $50/t on 15 Apr'26, following Indonesia's revisions to its nickel ore benchmark pricing (HPM) formula, after an earlier $25/t hike for Taiwan. The move lifted sentiment across Chinas spot market, while LME nickel rose to around $18,200/t. Rising raw material costs continued to support prices, though market focus remains on whether downstream demand can absorb further increases.