Stainless Steel & Special Alloys

The first quarter reporting season for the leading European stainless steel producers has now concluded. Although financial performance remains below satisfactory levels, the overall situation has shown clear improvement compared to last year (...)

• Indonesia flexing muscle on nickel ore mining quota
• Stainless mills raise prices in China
• Middle East conflict pushing up costs for nickel and stainless

• Stable demand coming from mills
• Higher prices for both imported and domestic stainless scrap
• Mills stocking raw materials strictly in line with order books

• Demand mixed but improving
• Tariffs continuing to shape flows
• Cautious optimism warranted for remainder of 2026

• Market remains in a fragile balance
• Scrap collection continues to be constrained
• Scrap market increasingly shaped by global forces

• Underlying demand broadly stable in first quarter
• Further shift towards cost- and logistics-driven pricing behaviour
• Strong re-export and redistribution activity across GCC

• Inconel 718 values remain under pressure
• Tungsten outperforming much of broader scrap market
• Aerospace the strongest segment for superalloy consumption