The global stainless steel market is likely to enter a new round of policy and cost-related conflicts soon.

According to market information, last week, news circulated in the Chinese market that Indonesia had taken the lead in lowering its export price for 304/2B cold-rolled stainless steel by US$30/ton, ending a six-month consecutive rise since December last year.

After six consecutive months of increases, Asian markets saw their first price decline. However, with the rapid resurgence of news regarding Indonesia's export control policies on metals such as nickel, coupled with increasing pressure from the European Carbon Border Adjustment Mechanism (CBAM), global 304 stainless steel prices remained high. 

Just as the market anticipated a potential weakening trend, the Indonesian government introduced new export control policies, reigniting concerns about supply contraction.

Traders generally expect the market to shift from being "demand-driven" to being "policy and supply-driven," making a price decline unlikely in the short term. 

With the official start of Indonesia's export control transition period in June and the further implementation of CBAM, the global stainless steel market is likely to enter a new round of supply chain restructuring and price reassessment.