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

Save

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.

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

1 hour ago

Ferrous Metals May Consolidate at Highs in the Short Term [SMM Steel Industry Chain Weekly Report]

This week, ferrous metals continued their rebound trend, with finished products outperforming raw materials. Early in the week, the rally was primarily driven by raw materials, as uncertainty over the Middle East situation combined with market rumors of restricted Mongolian coal shipments boosted the coal sector, with other ferrous metals following suit. Mid-week, the General Offices of the CPC Central Committee and the State Council issued the "Opinions on Achieving Higher-Level and Higher-Quality Energy Conservation and Carbon Reduction," which covered the steel industry, strengthening market expectations for supply-side reform. In the latter half of the week, data on the five major steel products were released, showing increases in both supply and demand along with inventory drawdowns, with finished products rallying more strongly than raw materials. Spot market side, as futures rose consecutively, end-user purchasing enthusiasm increased somewhat, the spot-futures price spread narrowed mid-week, and there was bargain-hunting activity in spot cargo...

1 hour ago

[SMM Analysis] EMM: Rigid Cost Support Highlighted, Multiple Bearish Factors at Month-End Led to Price Softening

Recently, China's EMM market has exhibited a distinct dual pattern of "strong cost support with loosening at highs," with intensifying supply-demand and cost dynamics in the industry. On one hand, the tight balance in supply and demand for the core raw material manganese ore persisted, compounded by elevated prices of other auxiliary materials, collectively pushing up EMM smelting costs and providing solid floor support for manganese prices. On the other hand, traditional month-end demand weakness and tightening liquidity, coupled with correlated downward movements of linked products along the industry chain, led to a rational pullback in EMM prices that had been consolidating at highs, with market sentiment gradually shifting from firm stability to cautious wait-and-see.

1 hour ago

2 hours ago

[SMM Steel] Hoa Phat targets 38–40% steel pipe market share after new plant launch

[SMM Steel] Hoa Phat Group aims to raise its steel pipe market share to 38–40%, up from around 35% currently, following the commissioning of its Long An plant (400,000 mt/year), lifting total capacity to 1.2 mln mt/year. Q1 2026 pipe sales rose 30% YoY to 241,000 mt, significantly outpacing industry growth (+7%), while market share increased by 5 percentage points YoY. The company plans to focus on large-diameter pipes for infrastructure projects, targeting less competitive segments. Expansion will depend on actual construction demand, while competition is intensifying as peers such as Nam Kim Steel also ramp up capacity.

2 hours ago