SHANGHAI, May 8 (SMM) - The prices of stainless steel finished products went up, and the prices of stainless steel scrap followed suit. Up to now, the purchase prices of Qingshan 304 stainless steel scrap were raised to 11,000 yuan/mt. The cash cost of cold-rolled stainless steel completely produced with stainless steel scrap was about 15,312 yuan/mt while the cost with high-grade NPI stood at 15,000 yuan/mt, indicating the higher cost efficiency of NPI.
The inventory of stainless steel scrap was low and the demand was also weak due to its poor cost efficiency. But the production increase plans of stainless steel plants in May may drive up the overall demand for stainless steel scrap. The tight supply of stainless steel scrap may extend in the short term, and there may still be room for a slight rise in its prices. Since stainless steel plants compromised on prices after the holiday, the short-term NPI prices will increase slightly. To sum up, NPI will still be more cost-effective than stainless steel scrap in the short term.
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