Spot Prices of 200-series Cold-rolled Coils are Stable

SHANGHAI, Mar 21 (SMM) - In February, spot prices of 200-series cold-rolled coils were stable, deepening the stainless steel mills’ losses. Based on the daily raw material prices, the profit margins of #201 cold-rolled coils at integrated mills stood at about -2.68% as of the end of the month. In terms of raw materials, the price of low-grade NPI remained at 5,300 yuan/mt. Although the rainy season in the Philippines has not passed, a small amount of low-grade nickel ore with high Al content was imported. It is expected that the prices of low-grade NPI will stabilise in March. But after the imports resume, the prices may decline.