{"id":46537,"date":"2025-11-08T11:10:49","date_gmt":"2025-11-08T05:10:49","guid":{"rendered":"https:\/\/biztrend24.com\/?p=46537"},"modified":"2025-11-08T11:10:49","modified_gmt":"2025-11-08T05:10:49","slug":"stainless-steel-scrap-prices-fall-on-weak-demand-rising-npi-usage-semi-final","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=46537&lang=en","title":{"rendered":"Stainless steel scrap prices fall on weak demand, rising NPI usage, semi-final"},"content":{"rendered":"

\u2022 Weak buying sentiment puts pressure on scrap prices<\/strong><\/p>\n

\u2022 LME nickel prices edge down, stocks still rise<\/strong><\/p>\n

Stainless steel scrap prices in India came under pressure this week as buying sentiment in the domestic market remained weak and there was ample scrap availability. In addition, increased use of alternative raw materials such as nickel pig iron (NPI) and semi-finished products further dampened scrap demand.<\/p>\n

BigMint has priced domestic 304-grade scrap at Rs 111,000\/tonne ex-Delhi, down Rs 3,000\/tonne, while 304-grade scrap imported from nearby sources is priced at $1,230\/tonne CFR Mundra, down $10\/tonne.<\/p>\n

Market sentiment<\/strong>
\nDomestic stainless steel scrap prices continued to soften as production costs fell due to falling coil prices and subdued demand. According to market participants, downstream activity remained weak and the expected post-festival recovery did not materialise, resulting in subdued buying sentiment. Mills have reduced their purchase prices for 304 scrap in the domestic market by around Rs 2,000-3,000\/tonne, further pressuring trade-grade scrap offers and contributing to a cautious outlook.<\/p>\n

A market participant said, \u201cOverall market performance remains weak. Major mills are increasingly supplying billets and NPIs to the market, which has reduced reliance on scrap. This has further put pressure on scrap demand and kept prices under sustained pressure.\u201d<\/p>\n

Global Update<\/strong>
\nSouth Korea\u2019s POSCO has suspended operations at its stainless steel plant in Pohang following a gas leak incident during maintenance operations at the annealing and pickling lines. The company is conducting a thorough safety inspection, while authorities have launched an investigation into the cause of the leak and the plant\u2019s safety measures to ensure the safety of workers.<\/p>\n

A Korean trader clarified that production has not yet stopped. However, since this month, POSCO agents have slowed down their scrap purchases due to sufficient stockpiles, and the company\u2019s acceptance has also returned to normal.<\/p>\n

The trader also noted that domestic prices in Korea have increased over the past few months. The acceptance of SS304 scrap is expected to remain slow and limited as domestic prices are higher than those in Japan, China, Taiwan and India. The domestic price of SS304 is currently around KRW 1780-1800\/t, which is around $1300\/t CFR in India.<\/p>\n

There have been no SS304 exports for the past 4-5 months and this trend is likely to continue next year. Additionally, sea freight rates from Korea to India are forecast to increase.<\/p>\n

BigMint’s Scrap Valuation<\/strong>
\n\u2022 Nearshore-origin SS 316 scrap (loose): $2,500\/t, stable w-o-w.<\/p>\n

\u2022 Nearshore-origin SS 201 scrap (loose): $630\/t, down $15\/t w-o-w.<\/p>\n

\u2022 Nearshore-origin SS 430 scrap (loose): $560\/t, stable w-o-w.<\/p>\n

\u2022 SS 316 scrap outside Delhi: INR 214,000\/t, down INR 3,000\/t w-o-w.<\/p>\n

\u2022 SS pot outside Delhi: INR 60,000\/t, up INR 1,000\/t w-o-w.<\/p>\n

LME Nickel Tag<\/strong>
\nNickel prices on the London Metal Exchange (LME) fell slightly, with the three-month contract at $15,038\/t, down 1% from $15,245\/t last week. Nickel stocks registered on the LME stood at 253,104 tonnes, up from 251,640 tonnes in the previous week.<\/p>\n

Outlook<\/strong>
\nIn the near term, market sentiment is expected to remain cautious, with participants anticipating further price corrections in both finished stainless steel and scrap.<\/p>\n","protected":false},"excerpt":{"rendered":"

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