Global softness. India stays firm.
China inputs are easing while Indian replacement cost remains sticky.
Trade Intelligence Notice: Indicative trade intelligence for industrial planning. Every figure carries its actual verified source and date. For firm contract pricing on specific coils, circles, or sheets, contact our desk.
China & Global Inputs
Final settlement RMB 13,855/t.
Warehouse stock 270,768 t, unchanged in the latest session.
High-grade NPI fell RMB 9.3/nickel-unit WoW to RMB 1,113.2; Indonesia NPI FOB index fell US$1.44 to US$144.07/nickel-unit.
India Domestic
Supply shortage supporting scrap despite softer global signals.
Prices moved higher on tight raw-material supply.
Amount and producer name are not public on BigMint.
BigMint lists 304/316 HR and CR benchmarks, but the current numeric fields are gated.
Market Read: Outlook & Risk Balance
China stainless, nickel and NPI are all softer and LME nickel stocks are higher on the week. India is resisting that relief because scrap and finished stainless remain tight.
- China: real restocking versus warrant-led draw
- Indonesia: NPI, ore availability and IMIP water conditions
- India: scrap tightness
- DGTR: post-hearing filing or finding
A DGTR provisional or final measure, or a confirmed IMIP nickel-output cut.
Policy Watch
DGTR 06/28/2025-DGTR
Case open, no preliminary or final finding postedOral hearing 11 Sep 2026, 3:30 PM IST. CR 300/400 series including circles is in scope; hot-rolled is excluded.
BIS IS 6911
IS 6911:2026 operativeEffective 18 Aug 2026; IS 6911:2017 withdrawn.
Indonesia DHE-SDA
30% retention, minimum 3 monthsEffective 1 Sep 2026. Previously 100%. SMM reports 64 mining exporters currently qualify.
Source Attribution: SMM (4 Sep 2026, 1 and 3 Sep 2026), LME (4 Sep 2026), BigMint (1, 2, 4 Sep 2026), DGTR (case page updated 2 Sep 2026), BIS implementation guideline (23 Apr 2026).
Published by Metal Dock B2B Trade Intelligence Desk · Wazirpur Industrial Area, Delhi
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