SHANGHAI, Apr 3 (SMM) - Last week, stainless steel mills' profit margins maintained at the same level as the previous week amid the falling prices of finished products and raw materials. The mills reduced production intensively due to the sluggish trading but still failed to curb the prices from dropping. The cost of the RKEF process stood at around 15,987 yuan/mt, and that of the non-RKEF process was about 16,158 yuan/mt. In terms of pure nickel, its futures prices moved rangebound and bounced back after adjustment of the macro front. As invisible NPI inventory flowed into the market, traders dumped their goods, sending the NPI prices into a nosedive. Stainless steel scrap prices also slumped amid pressure from NPI plants and stainless steel mills. Bid price of ferrochrome fell more than expected.



