The recovery was less than expected, and the inventory of stainless steel market increased by 237000 tons-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:

1. Nickel: On February 1, the three-month closing price of London nickel was 27258 US dollars, down 1354 US dollars, down 4.73%. The latest continuous price of Shanghai nickel was 208880 yuan, down 6130 yuan, down 2.85%. Shanghai high-carbon ferrochrome FeCr55C1000 (50 base) 9500 yuan/50 base tons. 380000 yuan/ton of Luoyang ferromolybdenum FeMo60.

2. Continuous: the latest price of stainless steel on the 17th was 16840 yuan, down 35 yuan, or 0.21%. The position was 63906 and the trading volume was 30263.

3. Price of Dainan waste stainless steel

201 old pipe 5350-5450; 304 industrial 12800-12900304 new material 12900-13000304 particle 11700-11800.

316 particle 21800-22000; 316 furnace 23700-23900; 310 Clinker 29000-30000;

430 filmless 4550-4650431 return material 3950-4050

2、 Reference price of Wuxi stainless steel coil

1. Guide price for hot rolling of TISCO:

300 hot rolling series: 18500 yuan/ton of 304/NO.1; 21500 yuan/ton of 321/NO.1; 35600 yuan/ton of 316L/NO.1.

Medium plate (trimming, thickness: 14-20mm, width: 1500mm) 304 material - 20900 yuan/ton, 321 material 27000 yuan/ton, 316L material 37300 yuan/ton.

2. Dongte hot rolling guide price: 17000 yuan/ton for 304 material 4-12mm, 17200 yuan/ton for 14mm; 17700 yuan/ton for 16mm; S31603 material: 33900 yuan/ton for 4-12mm, 34300 yuan/ton for 14mm; 34800 yuan/ton for 16mm;

3. Jiuquan Iron and Steel 2205 hot rolling 35500 yuan/ton; Dongte 2205 hot rolling 35100 yuan/ton.

4. Qingshan hot rolling: 304 material 16900 yuan/ton;

5. Zhangpu guidance price 304 material 17800 yuan/ton, 321 hot rolled 20300 yuan/ton; 316L hot rolled 34300 yuan/ton.

3、 Reference price of stainless steel tube and rod

1. [Qingshan round steel price ￠ 65-130 sealing] The price of S30400 material is 17400 yuan/ton, 316L material is 31900 yuan/ton, TP321 material is 20100 yuan/ton, 321 material is 18900 yuan/ton. 304 raw pipe round steel price+800316L raw pipe round steel price+900321 raw pipe round steel price+850.

2. [Delong round steel ￠ 65-130 sealing disc] S30400 material 17400 yuan/ton, 316L material sealing disc yuan/ton.

3. [Yongxing Bar ￠ 65-130] 304 material 20300 yuan/ton, TP321 material 23300 yuan/ton, 316L material 37300 yuan/ton, 316GB material 41800 yuan/ton, S22053 material 40000 yuan/ton.

4. [Huaxin Lihua ￠ 65-130] S30400 material 20300 yuan/ton, 316LS material 35500 yuan/ton, 32107 material 22500 yuan/ton.

5. [Fukai round steel market price] ￠ 65-130: 2205/F60 material inquiry yuan/ton, 2507 material inquiry yuan/ton, 630/17-4PH material inquiry yuan/ton. Wuxi Puhengjia 304L material ￠ 140-250, 19400 yuan/ton, ￠ 260-400, 19600 yuan/ton; 316L material: 33000 yuan/ton for ￠ 140-250, 33200 yuan/ton for ￠ 260-400.

6. [Reference price of Zhejiang Penji pipes]

Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold-drawn pipe, pickling and weighing delivery - 30.4 yuan/kg;

Stainless steel seamless pipe S31603, specification 25 * 2 * 6000, cold-drawn pipe, pickled, weighed and delivered - 47.3 yuan/kg;

Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000 cold-drawn pipe, pickled and delivered by weight - 33.7 yuan/kg;

Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, pickling and weighing delivery - 23.6 yuan/kg;

Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, pickling, weighing and delivery - 42.3 yuan/kg;

Stainless steel welded pipe 32168, specification 219-813 * 4-6, pickling, weighing and delivery - 30.1 yuan/kg.

4、 Statistics

According to Mysteel survey:

On February 2, 2023, the social inventory of stainless steel in the national mainstream market was 1393801 tons, an increase of 236582 tons or 20.44% over the previous week, including:

The total inventory of cold-rolled stainless steel was 818607 tons, an increase of 103694 tons or 14.5% over the previous week;

The total inventory of hot rolled stainless steel was 575194 tons, an increase of 132888 tons or 30.04% over the previous week;

The total inventory of the 200 series was 306782 tons, an increase of 37947 tons or 14.12% over the previous week;

The total inventory of 300 series was 854488 tons, an increase of 146075 tons or 20.62% over the previous week;

The total inventory of 400 series was 232531 tons, an increase of 52560 tons or 29.20% over the previous week.

Wuxis inventory was 717831 tons, down 4722 tons or 0.65% from last week.

Foshans inventory was 504455 tons, an increase of 83202 tons or 19.75% over the previous week.

The inventory of Zibo, Jieyang, Shenyang and Xian was 171515 tons, an increase of 28411 tons or 19.85% over the previous week.

5、 Market analysis

On February 3, the average price of Philippine laterite nickel ore at 1.5% (CIF) was USD 71.5/wet ton, unchanged from last week. The news of the mining ban in the Philippines boosted the nickel price. The nickel iron supply was still tight and the nickel price was running at a high level due to the support of the de-stocking during the holiday; At present, Indonesian railway orders are mostly sold in the form of forward, and the proportion of bulk orders is gradually decreasing. In terms of demand, the downstream stainless steel consumption is temporarily weak, so the demand for ferronickel is weak. In the transaction, the sharp drop in the stainless steel plate has put some pressure on the price of ferronickel, and the sellers offer has made some concessions compared with the first ten days of January.

The spot price of stainless steel rose slightly this week. On the supply side, traders are in a strong mood to raise prices after the holiday, but after the release of the inventory data on Thursday, the recovery expectations were falsified, and the prices fell in the second half of the week. Traders are generally wait-and-see oriented. In terms of demand, the recovery of stainless steel was less than expected in the context of the slow recovery of real estate. From the perspective of inventory, Mysteel data shows that the national mainstream stainless steel stock increased by more than 20% on a month-on-month basis. The large accumulation of inventory makes the market worry more serious. In addition to the recent limited transaction and high cost, the steel market expectation is generally weak.

In terms of industry, the price of nickel and stainless steel was supported at the cost side due to the expected disturbance of nickel export tax imposed on the Philippines; However, under the background that the domestic economic recovery is less than expected, the downstream demand is weak, and the stainless steel inventory pressure is more prominent.

Zhejiang Benji Stainless Steel Co., Ltd.,