Nickel inputs soften faster than chrome
Nickel and NPI softened while chrome inputs were mostly flat-to-soft. India stayed firmer, and DGTR's revised 300/400-series oral hearing is scheduled for 16 September 2026.
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China & Global Inputs
9 September session.
8 September close.
9 September assessment.
First half of September 2026.
9 September assessment.
9 September assessment.
9 September warehouse assessment.
Overall EU stainless imports were down 21% year-on-year.
H1CY26 melt-shop production.
India Domestic
BigMint stainless insight dated 8 September.
BigMint stainless insight dated 4 September.
H1CY26 production; JSL is expanding cold-rolled capacity by about 620,000 t to 2.67 million t by FY28.
Market Read: Outlook & Risk Balance
China and Indonesia NPI moved lower and first-half September HMA is below late August. Chrome is less weak: the China mill ferrochrome tender index eased modestly while South African ferrochrome and chrome ore were unchanged.
- LME 3M nickel
- China NPI 10-12%
- Indonesia NPI FOB
- Indonesia HMA
- China HC ferrochrome tender index
- South African chrome ore
- DGTR oral hearing on 16 September 2026
An applicable duty outcome in the DGTR cold-rolled 300/400-series case could override the gradual raw-material path.
Policy Watch
DGTR revised oral hearing for cold-rolled stainless 300/400-series case
Scheduled for Wednesday, 16 September 2026 at 3:30 PM ISTThe case covers China PR, Indonesia and Vietnam. The hearing will be held by digital video conference.
Malaysia anti-dumping investigation on Indonesian cold-rolled stainless
Initiated 9 September 2026Case AD 03/26 covers cold-rolled stainless products from Indonesia; questionnaire responses and views are due within 30 days of gazette publication.
Source Attribution: SMM LMEselect Nickel 3 Month, 9 Sep 2026 | SMM China NPI 10-12%, 9 Sep 2026 | SMM Nickel Prices, 9 Sep 2026 | SMM Indonesia HMA, 2 Sep 2026 | SMM Nickel Morning Meeting, 9 Sep 2026 | SMM Chromium price pages, 9 Sep 2026 | SMM EU Stainless Steel Flash, 9 Sep 2026 | BigMint stainless insights, 4 and 8 Sep 2026 | BigMint global stainless production, 8 Sep 2026 | DGTR revised oral hearing notice, 9 Sep 2026 | SMM Malaysia anti-dumping flash, 9 Sep 2026
Published by Metal Dock B2B Trade Intelligence Desk · Wazirpur Industrial Area, Delhi
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Previous Daily Briefs
Nickel bounces while NPI and India stay cautious
LME 3M nickel rose for the 8 September session, while high-grade NPI and Indonesia FOB remained lower. India stayed firmer through bright-bar and scrap direction, while the DGTR oral hearing is scheduled for 11 September 2026 at 3:30 PM IST.
Futures rebound, but stainless restocking stays weak
Monday stainless futures recovered, but Chinese mill restocking remained cautious while NPI and LME nickel softened. India stayed firmer, and the DGTR oral hearing on 11 September is the immediate policy event.
EU demand slips while Indian stainless holds firm
European stainless demand indicators weakened while BigMint's public India signals stayed firm. Global nickel-chain relief therefore points to gradual 304 cost easing, but domestic pass-through may remain uneven.
Global softness. India stays firm.
China inputs are easing while Indian replacement cost remains sticky.