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[SMM Analysis] Nickel Cut Rumours Spark a Rally, but Overseas Stainless Offers Stay Put as Europe Trims CIF by $15

SMM Weekly Ex-China Stainless Steel Review – week of October 19–23: Indonesian and Malaysian 304/2B offers held at the levels set by their mid-October cuts, leaving weekly averages lower, while CIF Belgium was cut by $15/mt this week. Rumoured Indonesian nickel output cuts lifted SHFE nickel 3. 05% but did not reach overseas stainless offers. The EU moved to keep anti-dumping duties on hot-rolled coil from Indonesia, China and Taiwan (PoC).

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