These are stainless steel production costs by raw materials in February: stainless steel scrap (14,193.84 yuan/mt) and highgrade NPI (13,731.33 yuan/mt). Raw materials dipped amid falling prices of stainless steel finished products. Inquiry price of stainless steel scrap was flat, but 304 and 201 off-cuts scrap prices dropped several times. With waning impact of RKAB, high-grade NPI prices were dominated by fundamentals, but may decline to a limited extent

Spot market stable at 107,500-112,000 yuan/ton, futures rose 0.88% to 108,500 yuan/ton, with 199,520 lots traded.

The Albemarle spodumene tender held on March 26 has come to an end, with the final result being 9,372 yuan/ton (grade 5.76%, domestic spot tax included). The price is approximately US$1,198 after discounting by 6 grades and converted into CIF price, which is basically the same as the final transaction price in Pilbara on March 14. At the same time, Albemarle also stated that it will conduct another spodumene tender on April 24.

The CSPT Working Group convened its first quarter general manager's office meeting in Shanghai on March 28, 2024. After discussion, the meeting reached the following five consensuses:

DCE iron ore futures tight. The main contract has been changed to I2409, closed at 758, an decrease of 0.85% throughout the day; Market wait-and-see sentiment increased.