1、 Raw material report:

1. Nickel: On November 28, the three-month closing price of nickel in London was $25200, down $400, or 1.56%. The latest price of nickel in Shanghai was RMB 195300, up 2610, or 1.35%. Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) 8400 yuan/50 basis tons. 227000 yuan/ton of Luoyang ferromolybdenum FeMo60.

2. Stainless steel: The latest price on the 17th was 16820 yuan, up 230 yuan or 1.39%. 68691 positions and 91724 turnover.

3. Price of Dainan waste stainless steel

201 Old pipe 5300-5400; 304 Industrial 12200-12400304 New material 12400-12500304 Shavings 11200-11400.

316 shavings 18500-18600; 316 large furnace 19400-19500; 310 Clinker 30200-30400;

430 filmless 4600-4700431 recycled material 3850-4050

2、 Reference price of Wuxi stainless steel coil

1. Hot rolling guide price of TISCO:

300 hot rolling series: 304/NO 17600 yuan/ton for 1; RMB 20900/ton for 321/NO.1; 28400 yuan/ton for 316L/NO.1.

Medium plate (trimming, thickness: 14-20mm, width: 1500mm) 304 material - 19900 yuan/ton, 321 material 26600 yuan/ton, 316L material 31200 yuan/ton.

2. The guide price of Dongte hot rolling: 16500 yuan/ton for materials of 304 4-12mm, 16700 yuan/ton for materials of 14mm; 17200 yuan/ton for 16mm; S31603 material: 28000 yuan/ton for 4-12mm, 28400 yuan/ton for 14mm; 28900 yuan/ton for 16mm;

3. Jiuquan Steel 2205 hot rolling 28800 yuan/ton; Dongte 2205 hot rolling is 28600 yuan/ton.

4. Qingshan hot rolling: 304 material 16200 yuan/ton;

5. Guiding price of Zhangpu 17200 yuan/ton for 304 material, 20000 yuan/ton for 321 hot rolling; 316L hot-rolled 28400 yuan/ton.

3、 Reference price of stainless steel tube and bar

1. [Qingshan round steel futures price in January ￠ 65-130] S30400, 17200 yuan/ton,; 316L material is 27100 yuan/ton, TP321 material is 19700 yuan/ton, 321 material is 18500 yuan/ton, 304 raw round steel price+800316L raw round steel price+900321 raw round steel price+850.

2. [Delong round steel ￠ 65-130] The price is 17,000 yuan/ton for S30,400 material and 26,600 yuan/ton for 316L material.

3. [Yongxing rod ￠ 65-130] 304 material 19300 yuan/ton, TP321 material 22000 yuan/ton, 316L material 31500 yuan/ton, 316GB material 35500 yuan/ton, S22053 material 31500 yuan/ton.

4. [Huaxin Lihua ￠ 65-130] S30400 material is 20200 yuan/ton, 316LS material is 31200 yuan/ton, 32107 material is 22500 yuan/ton.

5. [Guoqing ￠ 65-130] S22053 material is 26200 yuan/ton, 310S material is 41500 yuan/ton.

6. [Jiangyin Hanzhou ￠ 65-130 Fukai Material] 2205/F60 material 28,000 yuan/ton, 2507 material/F53 material 36,500 yuan/ton, 630/17-4PH material 18,000 yuan/ton,

7. [Reference price of Zhejiang Benji pipes]

Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold drawn pipe, acid pickling, weighing delivery - 29.4 yuan/kg;

Stainless steel seamless tube S31,603 material, specification 25 * 2 * 6000 cold drawn tube, acid pickling, weighing delivery -- 42.1 yuan/kg;

Stainless steel seamless tube S32168 material, specification 25 * 2 * 6000 cold drawn tube, acid pickling, weighing delivery - 32.8 yuan/kg;

Stainless steel welded pipe 30408, specification 219-813 * 4-6, pickled, weighed and delivered - 23 yuan/kg;

Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid pickling, weighing delivery - 36.5 yuan/kg;

Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, acid pickling, weighing delivery -- 29.4 yuan/kg.



4、 Statistics

According to Mysteel research statistics:

On November 24, 2022, the social inventory of stainless steel in the national mainstream market will be 653208 tons, 18264 tons less than last week, or 2.77% less, of which:

The total inventory of cold rolled stainless steel was 325532 tons, a decrease of 15678 tons or 4.99% compared with last week;

The total stock of hot rolled stainless steel is 327676 tons, 2943 tons less than last week, 0.89% less;

The total inventory of the 200 series was 101240 tons, a decrease of 4514 tons or 4.15% from last week;

The total inventory of 300 series is 386117 tons, down 7791 tons or 1.98% from last week;

The 400 series inventory totaled 162851 tons, a decrease of 6316 tons or 3.73% from last week.

Wuxis inventory was 422533 tons, down 6211 tons or 1.45% from last week.

Foshans inventory was 96230 tons, down 11293 tons or 10.50% from last week.

The inventory of Zibo, Jieyang, Shenyang and Xian was 134445 tons, down 1117 tons or 0.82% from last week.

5、 Market analysis

Against the background of rising overseas recession expectations and continued weak domestic consumption, weak nickel demand is difficult to support high nickel prices. Indonesias ferronickel return remains at a high level, Lunni inventory continues to accumulate, and nickel oversupply is expected to highlight. PT Adhi Kartiko Pratama, an Indonesian mining company, aims to produce 2.5 million tons of nickel ore by 2023, with an expected year-on-year increase of 40%; In terms of nickel ore, the supply and demand continued to be weak. From November to December, many domestic stainless steel plants planned to reduce production through maintenance, and the demand for nickel became weak; The low acceptance of the high nickel price market, combined with the severe epidemic situation in China, is worrying about the prospect of metal demand. The market activity is low, the willingness of downstream procurement is reduced, the shipment of traders is not smooth, and the macro sentiment repeatedly dominates the market in the short term.

In December, the profit and loss of stainless steel and nickel sulfate decreased rapidly, even the actual production scheduling under negative profits may not maintain positive month on month growth as expected, and the supply and demand relationship for nickel may continue to ease. In fact, due to the continuous implementation of Indonesian nickel pig iron, intermediate products and nickel matte production capacity, the market expects that nickel supply and demand will remain in excess in the second half of the year. Although there will still be a game between policy expectations and weak demand in the market in December, the high nickel price may be difficult to sustain from the current outlook for the year-end market.