SHANGHAI, Apr 17 (SMM) - SS contract prices bounced back last week. The decline in US CPI and PPI last week confirmed the slowdown in inflation, which was basically in line with market expectations. NPI prices rebounded to 1,052 yuan/mtu last week. The market trading was better, and the overall inventory dropped slightly. NPI prices are expected to run stably.
Prices of ferrochrome fell further last week. Overseas chrome ore futures prices rebounded slightly, enabling the spot prices in China to run steadily. The ferrochrome plants thus bore more losses. It is expected that the prices of ferrochrome will be stable with occasional declines. Therefore, the costs of stainless steel will remain stable this week.
The spot transactions increased last week, and the futures prices rebounded accordingly. SMM expects that the SS contract prices will move rangebound this week.
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