Indonesia Tsingshan raises export offers for 304-grade stainless

PT Indonesia Tsingshan Stainless Steel (ITSS), the Indonesian production base of China's Tsingshan Holding Group, raised its export prices for 304-grade stainless steel by $15/tonne for all its buyers on February 24, the first working day after the extended Chinese New Year holiday, Mysteel Global learns. The increase marked the Central Sulawesi-based stainless maker's fifth price hike so far this year.

The latest increase reflects persistent cost pressure from Indonesia's tightening nickel ore supply, as the government has significantly reduced mining quotas for 2026, Mysteel Global notes. On February 10, the Ministry of Energy and Mineral Resources (ESDM) had unveiled its Nickel Work Plan and Budget (RKAB) for the year, setting