[TISCO Stainless Steel List Prices] TISCO stainless steel list prices on May 12, 2025

[SMM Stainless Steel Daily Review] Finished Products and Raw Materials Pull Back in Tandem, Cost Pressure Eases, Stainless Steel Smelting Profits Hold Steady This week, stainless steel finished product and raw material prices pulled back in tandem, with steel mill profits basically stable and pulling back slightly. Based on the 304 cold-rolled category, the profit margin calculated from current raw material costs recovered to 1.42%, achieving positive profitability. However, dragged by previously purchased high-priced raw material inventory, the profit margin calculated from inventory costs remained at -2.54%, and the pressure from destocking on actual profitability has not yet been fully lifted. This week, nickel pig iron raw material prices fell notably. Under macro headwinds, SHFE nickel moved lower, and NPI market sentiment turned pessimistic. Demand declined amid expectations for production cuts at stainless steel mills, and the purchase price for stainless steel scrap was lowered during the week, further pressuring high-grade NPI prices. With the market broadly bearish, prices consolidated on a subdued note. As of this Friday, the tax-inclusive delivered price of Indonesian high-grade NPI with 10-12% grade in China fell by 17.5 yuan/nickel unit to 1,022.5 yuan/nickel unit. This week, stainless steel scrap prices fell. Under macro headwinds, SS futures declined notably, and steel mills lowered guidance prices for finished products, with spot prices pulling back and exerting direct pressure. High-grade NPI and high-carbon ferrochrome fell in tandem, and steel mill purchase prices were lowered, making it difficult for stainless steel scrap to move independently. Although the cost advantage of stainless steel scrap over high-grade NPI widened, unresolved tax invoice issues, cautious year-end purchasing by steel mills, and continued declines in production schedules kept demand weak, making it hard to reverse the downtrend. In the short term, prices are expected to continue consolidating on a subdued note. As of this Friday, the tax-exclusive price of mainstream 304 off-cuts in Shanghai remained stable at 9,700-9,800 yuan/mt. ......

[SMM Stainless Steel Scrap Market Weekly Review] Futures and Spot Prices Weaken Together, Demand Side Under Pressure, Stainless Steel Scrap Prices Pull Back This week, 304 stainless steel scrap off-cuts prices in east China fell, with a quotation range of 9,250-9,350 yuan/mt; prices in the Foshan area pulled back in tandem, with a price range of 9,650-9,950 yuan/mt. From a raw material cost perspective, the cost of producing stainless steel entirely from stainless steel scrap is approximately 13,193.42 yuan/mt, while the cost using only high-grade NPI reaches 13,918.59 yuan/mt. Stainless steel scrap still holds a notable economic substitution advantage over high-grade NPI, and its cost support role remains intact. This week, stainless steel scrap prices declined. Under the influence of macro headwinds during the week, SS futures fell notably, and with stainless steel mills lowering guidance prices for finished products, stainless steel spot prices followed suit, directly pressuring stainless steel scrap prices. On the raw material side, high-grade NPI and high-carbon ferrochrome prices also pulled back, and mainstream stainless steel mills lowered their purchase prices for stainless steel scrap. Stainless steel scrap could not decouple from the broader trend and fell in tandem. Although the economic advantage of stainless steel scrap over high-grade NPI widened further after the price decline this week, the tax invoice issue remains unresolved, and with the year-end approaching, downstream steel mills have become increasingly cautious in purchasing. Meanwhile, planned stainless steel production continued to decline, weakening demand for stainless steel scrap, making it difficult for prices to reverse their weak trend. Overall, weakening futures, lower steel mill purchase prices, and shrinking demand formed a resonance that dominated this week...