Stainless Steel Profits Grow amid Falling Raw material Prices while Rising Finished Product Prices

SHANGHAI, Mar 20 (SMM) - Last week, the prices of stainless steel went down as a whole as the orders dropped again after a short-term recovery. The overall profit margins improved. The cost of the RKEF process stood at about 17,600 yuan/mt, and that of the non-RKEF process was around 16,800 yuan/mt. Pure nickel prices slumped along with the futures prices amid the frequent bearish signs on the macro front. As invisible NPI inventory flowed into the market, traders and NPI factories dumped their goods, sending the NPI prices into a nosedive. The overall stainless steel scrap prices also showed a downward trend following stainless steel and NPI prices. Ferrochrome prices remained stable and are expected to fall this week amid the eased supply tightness.