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DONG-YU STEEL
DONG-YU RADAR
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Market developments, trade policies, and practical insights for the stainless steel industry.
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DONG-YU STEEL RADAR | Stainless Steel Market Update
Stainless steel futures traded within a volatile range today, while spot prices remained broadly stable. Tsingshan reopened its order book, with agents reporting relatively healthy order intake. Supply disruptions around the Strait of Hormuz have pushed sulfur prices higher, while nickel prices are showing signs of recovery from relatively low valuations. These factors have provided renewed cost support and driven a moderate rebound in stainless steel prices. However, seasona
7月20日
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DONG-YU STEEL RADAR | Stainless Steel Market Update
Stainless steel futures traded within a volatile range today, while spot prices remained broadly stable. Tsingshan reopened its order book, with agents reporting relatively healthy order intake. Supply disruptions around the Strait of Hormuz have pushed sulfur prices higher, while nickel prices are showing signs of recovery from relatively low valuations. These factors have provided renewed cost support and driven a moderate rebound in stainless steel prices. However, seasona
7月20日
Europe's New Steel Safeguards Aren't Just About Quotas. They're Reshaping Who Gets to Compete.
For years, many exporters viewed the European market through a relatively straightforward lens: secure an order, allocate quota, and ship. That era is ending. With the EU's latest safeguard measures now taking effect, the conversation is no longer simply about how much steel can enter Europe. It has become a question of who is structurally positioned to serve Europe over the long term. The new framework introduces three simultaneous barriers: Country-specific import quotas A
7月9日
DONG-YU RADAR | Stainless Steel Market Insight
The Market Isn't Weak - It's Waiting for the Next Trigger. Monday | 29 June 2026 After last week's volatility, the stainless steel market has entered another period of equilibrium. Prices remain relatively stable on the surface, but underneath, several key variables continue to reshape market expectations for the second half of the year. Nickel: The Market Is Waiting for Indonesia LME Nickel closed slightly lower at USD 16,805/MT, while SHFE Nickel recovered modestly during t
6月29日
Stainless Steel Market Insight | When Falling Prices Do Not Mean Oversupply
For many market participants, another decline in nickel prices appears to confirm a bearish outlook for stainless steel. I believe the reality is more nuanced. Overnight, LME Nickel retreated below USD 17,300/MT, while stainless steel futures continued to weaken. Spot prices in Wuxi followed the move, with both 304 cold rolled and hot rolled products slipping further. On the surface, the market seems trapped in a familiar cycle of weak sentiment and cautious buying. Yet benea
6月24日
Stainless Steel Market Commentary | Prices Are Rising Again. Demand Is Not.
Every rally needs a story. For most of this year, the stainless steel market has traded on a single narrative: future nickel shortages. Indonesia's mining policies, delayed quota approvals, supply disruptions, and tightening raw material availability all contributed to a belief that nickel prices would eventually move higher. Today, that narrative is beginning to crack. LME Nickel edged higher overnight. Stainless steel futures continued to recover. Chinese spot prices moved
6月16日
Why Nickel Prices Still Refuse to Rally
The Market Is Looking at Mine Closures. Smart Money Is Looking at Inventories. By DONG-YU Stainless Steel Market Commentary At the beginning of 2026, many market participants were convinced that nickel was finally approaching a turning point. Indonesia, the dominant force behind global nickel supply, had begun tightening mining quotas. Production growth was slowing. Several major operations faced disruptions. After four consecutive years of surplus, the industry expected the
6月11日
DONG-YU STEEL RADAR | Stainless Steel Market Update
Stainless steel futures traded within a volatile range today, while spot prices remained broadly stable. Tsingshan reopened its order book, with agents reporting relatively healthy order intake. Supply disruptions around the Strait of Hormuz have pushed sulfur prices higher, while nickel prices are showing signs of recovery from relatively low valuations. These factors have provided renewed cost support and driven a moderate rebound in stainless steel prices. However, seasona
7月20日
Europe's New Steel Safeguards Aren't Just About Quotas. They're Reshaping Who Gets to Compete.
For years, many exporters viewed the European market through a relatively straightforward lens: secure an order, allocate quota, and ship. That era is ending. With the EU's latest safeguard measures now taking effect, the conversation is no longer simply about how much steel can enter Europe. It has become a question of who is structurally positioned to serve Europe over the long term. The new framework introduces three simultaneous barriers: Country-specific import quotas A
7月9日
DONG-YU RADAR | Stainless Steel Market Insight
The Market Isn't Weak - It's Waiting for the Next Trigger. Monday | 29 June 2026 After last week's volatility, the stainless steel market has entered another period of equilibrium. Prices remain relatively stable on the surface, but underneath, several key variables continue to reshape market expectations for the second half of the year. Nickel: The Market Is Waiting for Indonesia LME Nickel closed slightly lower at USD 16,805/MT, while SHFE Nickel recovered modestly during t
6月29日
Stainless Steel Market Insight | When Falling Prices Do Not Mean Oversupply
For many market participants, another decline in nickel prices appears to confirm a bearish outlook for stainless steel. I believe the reality is more nuanced. Overnight, LME Nickel retreated below USD 17,300/MT, while stainless steel futures continued to weaken. Spot prices in Wuxi followed the move, with both 304 cold rolled and hot rolled products slipping further. On the surface, the market seems trapped in a familiar cycle of weak sentiment and cautious buying. Yet benea
6月24日
Stainless Steel Market Commentary | Prices Are Rising Again. Demand Is Not.
Every rally needs a story. For most of this year, the stainless steel market has traded on a single narrative: future nickel shortages. Indonesia's mining policies, delayed quota approvals, supply disruptions, and tightening raw material availability all contributed to a belief that nickel prices would eventually move higher. Today, that narrative is beginning to crack. LME Nickel edged higher overnight. Stainless steel futures continued to recover. Chinese spot prices moved
6月16日
Why Nickel Prices Still Refuse to Rally
The Market Is Looking at Mine Closures. Smart Money Is Looking at Inventories. By DONG-YU Stainless Steel Market Commentary At the beginning of 2026, many market participants were convinced that nickel was finally approaching a turning point. Indonesia, the dominant force behind global nickel supply, had begun tightening mining quotas. Production growth was slowing. Several major operations faced disruptions. After four consecutive years of surplus, the industry expected the
6月11日
Europe's New Steel Safeguards Aren't Just About Quotas. They're Reshaping Who Gets to Compete.
For years, many exporters viewed the European market through a relatively straightforward lens: secure an order, allocate quota, and ship. That era is ending. With the EU's latest safeguard measures now taking effect, the conversation is no longer simply about how much steel can enter Europe. It has become a question of who is structurally positioned to serve Europe over the long term. The new framework introduces three simultaneous barriers: Country-specific import quotas A
7月9日
DONG-YU Market Radar -The End of Anonymous Imports? How Trump's New Customs Enforcement Order Could Reshape Global Supply Chains
On June 3, 2026, U.S. President Donald Trump signed an Executive Order titled: "Strengthening Customs Enforcement." At first glance, many may view this as another customs compliance initiative. In reality, it may represent something far bigger. The United States is no longer satisfied with knowing what is being imported. It now wants to know: Who imported it. Who owns the importer. Who manufactured it. Where the raw materials originated. How the product was produced. This mar
6月4日
Nickel Shockwave: Indonesia Is No Longer Playing Defense - It's Rewriting the Rules
The market didn’t just move. It reacted. Nickel surged. Stainless futures followed. Base metals across Asia lit up almost in unison. But if you think this is about price, you're already behind. This Is Not a Tax. This Is a Strategic Extraction Indonesia is signaling a decisive shift: Export tax on nickel products Windfall (excess profit) tax Pre-shipment inspection authority 강화 At first glance, it looks like a fiscal move. In reality, it's something far more aggressive: A sys
5月7日
India Backs Down: Stainless Steel Barrier Falls - China Supply Returns Directly
The market doesn't bend to policy forever. Eventually, reality forces a decision. India's latest move says everything. On April 27, the Indian Ministry of Steel made a decisive shift: Extending the BIS certification exemption for stainless flat products (including semi-finished materials) until October 26, 2026. But this is more than an extension. It's a full strategic reversal. ⚠️ What Changed And Why It Matters Two critical signals stand out: Inclusion of IS 14650 (billets,
4月29日
The market doesn't bend to policy forever. Eventually, reality forces a decision.India's latest move says everything.On April 27, the Indian Ministry of Steel made a decisive shift: Extending the BI
The global nickel market is entering a new phase, not of surplus, but of controlled scarcity. Indonesia, the undisputed center of global nickel supply, is no longer maximizing output. Instead, it is strategically tightening the tap. With the 2026 RKAB quota cut by approximately 30%, down to 260–270 million wet metric tons, the message is clear: 👉 price stability now outweighs volume expansion. But here lies the real tension. Domestic smelter demand in Indonesia is estimated
4月29日
CBAM Is Not a Tax - It's a Supply Chain Filter
Many still see CBAM as just another “carbon tax.” That understanding is already behind the curve. CBAM is not about taxation. It is about redefining competitiveness across the global industrial supply chain. 1. The Core Logic: Not Just a Formula On paper, CBAM looks simple: CBAM Cost = Certificate Quantity × EU ETS Price But the real mechanism goes deeper. CBAM cost is driven by: The gap between embedded emissions and free allowances A market-driven carbon price (EU ETS) A ca
4月27日
DONG-YU RADAR | Stainless Steel Market Insight
The Market Isn't Weak - It's Waiting for the Next Trigger. Monday | 29 June 2026 After last week's volatility, the stainless steel market has entered another period of equilibrium. Prices remain relatively stable on the surface, but underneath, several key variables continue to reshape market expectations for the second half of the year. Nickel: The Market Is Waiting for Indonesia LME Nickel closed slightly lower at USD 16,805/MT, while SHFE Nickel recovered modestly during t
6月29日
Stainless Steel Market Insight | When Falling Prices Do Not Mean Oversupply
For many market participants, another decline in nickel prices appears to confirm a bearish outlook for stainless steel. I believe the reality is more nuanced. Overnight, LME Nickel retreated below USD 17,300/MT, while stainless steel futures continued to weaken. Spot prices in Wuxi followed the move, with both 304 cold rolled and hot rolled products slipping further. On the surface, the market seems trapped in a familiar cycle of weak sentiment and cautious buying. Yet benea
6月24日
Stainless Steel Market Commentary | Prices Are Rising Again. Demand Is Not.
Every rally needs a story. For most of this year, the stainless steel market has traded on a single narrative: future nickel shortages. Indonesia's mining policies, delayed quota approvals, supply disruptions, and tightening raw material availability all contributed to a belief that nickel prices would eventually move higher. Today, that narrative is beginning to crack. LME Nickel edged higher overnight. Stainless steel futures continued to recover. Chinese spot prices moved
6月16日
Why Nickel Prices Still Refuse to Rally
The Market Is Looking at Mine Closures. Smart Money Is Looking at Inventories. By DONG-YU Stainless Steel Market Commentary At the beginning of 2026, many market participants were convinced that nickel was finally approaching a turning point. Indonesia, the dominant force behind global nickel supply, had begun tightening mining quotas. Production growth was slowing. Several major operations faced disruptions. After four consecutive years of surplus, the industry expected the
6月11日
DONG-YU Market Radar -The USD 19,000 Illusion? What Is the Market Trying to Tell Us?
Only a few days ago, the stainless steel industry was discussing a very different story. LME Nickel had successfully climbed above the USD 19,000/MT level. Supply concerns were dominating conversations. Indonesia's export policies were making headlines. Many market participants began discussing the possibility of another round of stainless steel price increases. Today, the picture looks very different. Nickel has fallen back to approximately USD 18,555/MT. The question is no
6月4日
Nickel Nears Monthly High, The Real Fear Is Not Price, But a Supply Chain Losing Stability
As June begins, LME nickel futures have climbed back above USD 19,300/MT, approaching their highest level in nearly a month. To experienced participants in the stainless steel and nickel markets, this move does not look like a simple technical rebound. Instead, it reflects mounting pressure that has been quietly building across the global supply chain for months. At first glance, the market appears to be reacting to higher prices. In reality, what traders are increasingly pri
6月3日
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