The stainless steel market saw improved transactions, with stainless steel scrap prices remaining firm [SMM Weekly Review of Stainless Steel Scrap Market]

Published: Jul 4, 2025 17:35

Save

This week, the price of 304 stainless steel scrap off-cuts in east China pulled back, reaching 9,300-9,400 yuan/mt; in Foshan, the price of 304 stainless steel scrap off-cuts dropped slightly, reaching 9,200-9,500 yuan/mt. Currently, calculating by raw material, the production cost of stainless steel produced entirely from stainless steel scrap is approximately 13,061.84 yuan/mt, while the production cost of stainless steel produced entirely from high-grade NPI is approximately 13,034.16 yuan/mt. This week, a steel mill in south China did not update its procurement price for stainless steel scrap.

This week, the decline in stainless steel spot prices slowed down, the price of high-grade NPI continued to fall, while the price of stainless steel scrap remained stable supported by the firmness of stainless steel finished products. Currently, the supply of stainless steel scrap remains relatively tight, and stainless steel scrap traders still have a sentiment of refusing to budge on prices and holding back from selling. Despite the reduced demand for stainless steel scrap due to production cuts by stainless steel mills, given that the price of stainless steel scrap is already at a low level, there is significant resistance to further declines. Compared to high-grade NPI, the economic advantage of stainless steel scrap has once again disappeared, although the current price gap between the two is relatively small. Overall, driven by the rebound in stainless steel finished product prices at low levels and supported by the tight supply of stainless steel scrap, it is expected that stainless steel scrap prices will remain firm in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41