Finished Products Linked with Nickel-Based Raw Materials; Stainless Steel Scrap Cost-Effectiveness Supports Stronger Market [SMM Stainless Steel Scrap Market Weekly Review]

Published: Apr 24, 2026 16:12

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This week, prices of grade 304 stainless steel scrap off-cuts in east China rose, with a quotation range of 10,350-10,450 yuan/mt. In Foshan, the same-grade stainless steel scrap off-cuts also strengthened, with a price range of 9,950-10,250 yuan/mt. From the perspective of raw material production costs, the cost of producing stainless steel entirely from stainless steel scrap was approximately 14,520.18 yuan/mt, while the cost using entirely high-grade NPI reached 14,824.1 yuan/mt.

Stainless steel scrap prices edged up this week. SS futures held up well, driving stainless steel finished products to continue their previous strong momentum and edge up. Meanwhile, news of nickel ore mine shutdowns in Indonesia continued to ferment, further boosting market sentiment and pushing up prices of the alternative raw material high-grade NPI. Influenced by the linkage effect among futures, finished products, and alternative raw materials, stainless steel scrap prices also edged up in tandem. The core factors supporting the slight increase in stainless steel scrap prices were clearly identifiable: although the cost advantage of stainless steel scrap relative to high-grade NPI narrowed somewhat following recent price increases, it remained at a favorable level. This core competitiveness sustained robust purchase willingness from steel mills for stainless steel scrap. Additionally, the recent shortage of tax invoices for stainless steel scrap eased, improving the market trading environment and further facilitating the slight price rise. Overall, the stainless steel scrap market this week exhibited a modestly stronger pattern characterized by "futures-driven momentum, raw material linkage, and demand support." Various supportive factors jointly dominated market trends, with no prominent factors constraining price rises. Stainless steel scrap prices were expected to continue to hold up well 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.

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