1 April 2026 – The Asian stainless steel market is expecting a significant uptick in demand for the second quarter of 2026. Indonesia’s nickel industry is facing a sulphur problem. EU Safeguard successor: Wasn’t something supposed to happen on 1 April?
Indonesian Nickel Industry Faces a Sulphur Problem
The ongoing conflict in the Middle East is now making itself felt in Indonesia’s nickel production. Sulphur is a key raw material in the nickel refining process. With around 80% of the world’s sulphur supply originating in the Middle East – and roughly half of its transport previously routed through the currently blocked Strait of Hormuz – prices have surged by more than 50% since January 2026.
The Indonesian Nickel Miners Association (APNI) warned at an event yesterday that sulphur is now directly affecting cost structures, trade flows, and pricing across nickel production.
Asian Stainless Steel Market Expects Stronger Demand
The Asian stainless steel market is expecting a significant uptick in demand for the second quarter of 2026. Market sources indicate that order books at many Taiwanese stainless steel producers are already well filled. Analysts in China reported in March that stronger demand for stainless steel was becoming visible and that inventories at social warehouses were declining.
Asian base metals were broadly stable today, moving largely sideways.
EU Safeguard Successor: Wasn’t Something Supposed to Happen on 1 April?
We will allow ourselves a brief remark today regarding the planned successor to the EU safeguard measure on certain steel products. Because exactly what we had predicted has come to pass: nothing.
The sales tactic employed by European steel producers, using such claims to drive revenue, has not paid off. According to the producers’ side, the EU safeguard successor was supposedly set to enter into force on 1 April 2026. That turned out to be wishful thinking, and as an early April Fools’ joke it really doesn’t quite cut it – would you not agree?
As early as the end of 2025, the repeated demands and rumours surrounding the introduction of a safeguard successor on 1 January 2026 had already proven to be unfounded.
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