Executive Summary
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European Trend: Alloy surcharges for April 2026 are rising despite a slight dip in LME nickel. Grade 1.4301 (304) is up 3.6%, while Grade 1.4016 (430) jumped 5.4%.
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Asian Trend: Major mills in Taiwan (Yusco, Walsin Lihwa), South Korea (POSCO), and Japan are implementing significant hikes for March and April deliveries.
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Key Price Adjustments: 316-series up NT$4,000/ton; 304-series up NT$2,000/ton (Taiwan). South Korean prices rose by up to KRW 200,000.
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Primary Drivers: High ferrochrome costs, energy prices, Indonesia supply issues, and the EU CBAM (CO2 tax).
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Demand Outlook: Stable demand from Japanese automotive and Korean shipbuilding, while Taiwan monitors export strength.
Europe: The CBAM Effect and Ferrochrome Pressure
The European stainless steel market is witnessing a notable “decoupling” from traditional nickel-driven pricing. For April 2026, alloy surcharges have climbed significantly, even as LME nickel prices saw a modest month-on-month decline of nearly 1%.
The real story in Europe is Ferrochrome. Higher procurement costs and elevated energy prices have pushed surcharges for chrome-heavy grades like 1.4016 (430) up by over 5.4%. Furthermore, the full implementation of the Carbon Border Adjustment Mechanism (CBAM) as of January 1, 2026, is now a permanent financial factor, adding a mandatory “CO2 tax” cost-push to every tonne produced or imported.
Asia: Regional Mills Respond to Supply Squeezes in April 2026
In Asia, the narrative remains focused on raw material scarcity and regional logistics. Leading mills are moving in unison to offset rising production expenses.
Taiwan, Japan, and South Korea Price Adjustments
Taiwanese giants like Yieh United Steel Corp. (Yusco) and Walsin Lihwa are reacting to higher export rates from Indonesia. Meanwhile, South Korea’s shipbuilding boom is providing a specific lift for the high-nickel 316-series, and Japan’s automotive and semiconductor sectors continue to provide a stable floor for demand.
| Region | Series | Price Adjustment |
| Taiwan | 316-Series | + NT$4,000 / ton |
| Taiwan | 304-Series | + NT$2,000 / ton |
| Japan | 300-Series | + JPY 15,000 – 20,000 |
Market Outlook: Will Demand Sustain the Hikes?
While supply issues in Indonesia and geopolitical tensions in the Middle East continue to influence global trends, the deciding factor for late April will be actual restocking demand.
Distributors and end-users are currently navigating high-cost inventories. In Taiwan, which relies heavily on exports, the ability of global markets to absorb these increases will determine if the current upward trajectory continues into May.
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