SHANGHAI, Jul 25 (SMM) –Stainless steel scrap prices rose last week due to a simultaneous increase in SHFE nickel and stainless steel futures prices. The purchase prices of #304 stainless steel scrap offered by Qingshan stood at 10,200 yuan/mt. The cash cost of cold-rolled stainless steel produced with stainless steel scrap remained stable at 14,701 yuan/mt, and that produced with high-grade NPI was around 14481 yuan/mt, increasing the cost efficiency of NPI. The cost efficiency of stainless steel scrap is relatively strong. Confidence in the stainless steel scrap market has risen. In response to the improved market conditions, some enterprises raised their purchasing prices, while prices in other regions stayed stable. The high-grade NPI traders are gradually becoming more bullish, while iron mills remain firm in their pricing stance. However, due to limited recovery in stainless steel market demand, it is anticipated that NPI prices will face downward pressure in the future. In summary, the short-term prices of stainless steel scrap are expected to be strong, and the cost efficiency of NPI may also be sustained.
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