This week, the price of 304 stainless steel scrap off-cuts in east China remained largely stable, at 10,200-10,300 yuan/mt, while the price in Foshan pulled back to 10,000-10,300 yuan/mt. Currently, by raw material, the production cost of stainless steel using entirely stainless steel scrap is approximately 14,127.63 yuan/mt, and the production cost using entirely high-grade NPI is approximately 14,065.84 yuan/mt. This week, a steel mill in south China did not update its stainless steel scrap procurement price.
This week, stainless steel futures prices surged strongly, driving up the prices of stainless steel finished products, with both high-grade NPI and high-carbon ferrochrome prices also showing an upward trend. However, the stainless steel scrap market performed differently. Recently, due to gradually accumulating inventory and its continued economic disadvantage, market participants' sentiment turned cautious, keeping stainless steel scrap prices largely stable. Nevertheless, with the recent strengthening of alternative raw materials such as high-carbon ferrochrome and high-grade NPI, the economic disadvantage of stainless steel scrap has been somewhat mitigated. As we enter the traditional peak consumption season of "Golden March and Silver April," stainless steel finished product prices continue to rise, production remains at a high level, and both high-grade NPI and high-carbon ferrochrome prices have also increased. Considering these factors, stainless steel scrap prices are expected to fluctuate upward in the short term.
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