London Metal Exchange (LME) nickel prices stopped falling, staging a rebound for over a week as clarity emerged on Indonesian mining policies. Despite this rebound, the metal remains at a lower price tier, and the upward trend requires stronger momentum.

Meanwhile, downstream stainless steel markets remain sluggish. Although Tsingshan Group attempted to lead a price increase in China, local steel markets saw more drops than gains. Similarly, Taiwanese mills face severe production pressure from weak domestic consumption and a pause in European and American orders, prompting local players to observe how peers like Baowu Steel handle output reductions.

Distributors in Taiwan are avoiding further automatic price cuts, as recent heavy discounts failed to attract buyers. Export prospects also face headwinds from reduced European Union import quotas and summer slowdowns.