SHANGHAI, May 22 (SMM) - Stainless steel and stainless steel scrap prices both fell last week, and the scrap purchase prices offered by Tsingshan dropped to 10,800 yuan/mt. The cash cost of cold-rolled stainless steel produced with stainless steel scrap was about 15,016 yuan/mt, and that produced with high-grade NPI was about 15,164 yuan/mt. The bearish sentiment prevailed in the stainless steel scrap market due to the declining stainless steel prices and the possibly lower-than-expected stainless steel output. Prices of stainless steel scrap and NPI may fall, and the cost efficiency of the former will be maintained.
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