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Construction steel transactions were active last week, thus #304 stainless steel

2023-04-20
Apr 19 2023
Construction steel transactions were active last week, thus #304 stainless steel scrap quotes added about 400 yuan/mt WoW.

The cost efficiency of stainless steel scrap stood lower than that of high-grade NPI last week.

The cash cost of cold-rolled stainless steel produced completely by stainless steel scrap was about 14,838 yuan/mt, and that produced completely by high-grade NPI was about 14,517 yuan/mt.

The scrap consumption has declined recently as its cost efficiency dropped.

Last week, the traded price of high-grade NPI grew to 1,080 yuan/mtu (tax included, delivery to factory).

The overall NPI inventory fell slightly. Besides, the nickel ore mines intended to raise their quotes.

It is expected that the NPI prices will remain stable in the short term.

The cost efficiency of stainless steel scrap over NPI will grow in the short term.

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