Resolves YES if the official stainless steel price index or benchmark price in China exceeds 3500 yuan per tonne on July 1, 2026, as reported by recognized industry sources such as the China Iron and Steel Association or major stainless steel market price reporting agencies. Indonesia's recent nickel ore quota cuts have tightened nickel supply, a key input for stainless steel production, causing upward price pressure. This threshold is near current market expectations reflecting cost pass-through effects by stainless steel producers. Only spot or benchmark stainless steel prices count; futures or unrelated steel grades do not. The market evaluates the price exactly on July 1, 2026.

Indonesia's reduction in nickel ore RKAB quota has caused stainless steel producers to raise their prices, indicating potential cost pressures and supply constraints affecting nickel-dependent sectors.

Source: Article