Stainless steel prices opened 2026 on a firm note as nickel costs continued to climb. Nickel inventories on the London Metal Exchange fell through the fourth quarter of 2025, and Indonesian supply remained tight after a rainy season that slowed mining and hauling across key producing regions.

On the Shanghai Futures Exchange, stainless steel futures reacted quickly to the higher input costs, and spot offers for 304 cold rolled coil and sheet were raised by mills and traders alike. Market participants expect the cost push to keep near-term prices well supported.

Demand side, restocking across Southeast Asia and the Middle East ahead of construction season has improved order flow for 201 and 304 grades. Buyers are increasingly locking volumes for the first quarter to secure rolling schedules at mills.

For exporters such as DINGXIN MALAYSIA SDN BHD, the firmer price environment underlines the value of long-term cooperation with partner cold rolling plants: stable allocations from 4 rolling lines and 5 annealing lines help keep approximately 6,000 tons per month available for shipment to more than 25 countries, even when spot markets turn volatile.