Losses of 400-series Stainless Steel Expand

SHANGHAI, Mar 21 (SMM) - Losses of 400-series stainless steel expanded in February. After the Chinese New Year holiday, the stainless steel mills concentrated on delivery amid high inventory. Spot prices run weakly under the pressure of weak demand and high inventory. Although stainless steel factories held the prices firm, the effect was slight. Although the bid prices offered by mainstream stainless steel factories rose more than expected, prices of ferrochrome fell amid weak transactions and poor market confidence. It is expected that the prices of ferrochrome in March will stabilise affected by costs and bid prices.