The price of stainless steel deviates from that of nickel, and the mismatch between supply and demand is temporarily deadlocked-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:

1. Nickel: On February 10, the three-month closing price of London nickel was 27794 US dollars, down 1348 US dollars, down 4.63%. The latest continuous price of Shanghai nickel was 213500 yuan, down 2520 yuan, down 1.17%. Shanghai high-carbon ferrochrome FeCr55C1000 (50 base) 9600 yuan/50 base tons. Luoyang ferromolybdenum FeMo60 was 365000 yuan/ton, down 15000 yuan.

2. Continuous: the latest price of stainless steel on the 17th was 16505 yuan, down 85 yuan, down 0.51%. The position was 74247 and the trading volume was 26727.

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: 169000 yuan/ton for 304 material 4-12mm, 17100 yuan/ton for 14mm; 17600 yuan/ton for 16mm; S31603 material: 33400 yuan/ton for 4-12mm, 33800 yuan/ton for 14mm; 34300 yuan/ton for 16mm;

3. Jiuquan Iron and Steel 2205 hot rolling 35000 yuan/ton; Dongte 2205 hot rolling is 34600 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 34000 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 31800 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 35000 yuan/ton, material inquiry yuan/ton, 2507 material/F53 material sealing plate 37000 yuan/ton, 630/17-4PH material 18500 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 and weighing delivery - 41.8 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 9, 2023, the social inventory of stainless steel in the national mainstream market was 1387599 tons, down 6202 tons or 0.44% from last week, including:

The total inventory of cold-rolled stainless steel was 797293 tons, 21314 tons lower than last week, or 2.60%;

The total inventory of hot rolled stainless steel was 590306 tons, an increase of 15112 tons or 2.63% over the previous week;

The total inventory of the 200 series was 294897 tons, a decrease of 11885 tons or 3.87% over the previous week;

The total inventory of 300 series was 858555 tons, an increase of 4067 tons or 0.48% over the previous week;

The total inventory of 400 series was 234147 tons, an increase of 1616 tons or 0.69% over the previous week.

Wuxis inventory was 713300 tons, down 4531 tons or 0.63% from last week.

Foshans inventory was 501271 tons, down 3184 tons or 0.63% from last week.

The inventory of Zibo, Jieyang, Shenyang and Xian was 173028 tons, an increase of 1513 tons or 0.88% over the previous week.

5、 Market analysis

China imports less chromium resources from Türkiye, and the earthquake has limited impact on domestic chromium resources supply. Türkiye is one of Chinas chrome ore importers. During the earthquake, Adana chrome mining area and Türkiyes only producer of high carbon ferrochrome Eti Krom were all affected by the earthquake. According to the statistics of the General Administration of Customs, in 2022, China will import 949000 tons of chrome ore from Türkiye, accounting for 6.3% of the total import volume; In 2022, China will import 4000 tons of high carbon ferrochrome from Türkiye, accounting for 0.2% of the total import. China will import only a small proportion of chromium resources from Türkiye. The earthquake will have limited impact on the supply of chromium resources in the Chinese market. In addition, the earthquake is 200 kilometers away from Mersin Port (Mersin Port), which is temporarily suspended from operation, and the recovery time is to be determined. This port is the main port for the shipment of Türkiyes chromium ores, which is expected to affect the export of its chromium resources.

At present, the stainless steel market presents a "three high" situation: high inventory, high cost and high production scheduling. The stock pressure of Delong agent in the spot market is high, and the warehouse receipt inventory and the lead stock of some leading steel plants are on the high side. After the festival, Delong Cold Rolling will distribute the goods according to 150% of the quantity, and the agent will distribute the goods more. Delong Hot Rolling will distribute the goods at full quantity. There are too many resources in Delong in the cold rolling market, and some of the five-foot specifications of Delong cold rolling are out of stock. Recently, some Delong agents are unable to pick up the goods under the pressure of funds. There is not much inventory pressure on the Qing-generation agent, the overall arrival of cold rolling is not large, and the resources of Yongjin and Ruipu are relatively small. At present, the cold and hot rolling spot resources in the market are sufficient as a whole. According to the latest situation on the market side, the performance of 304 private cold and hot rolling has been differentiated. The cold rolling is forced by the continuous low price of the transaction, and there is sufficient room for loosening. However, the hot rolling contradiction, the coexistence of price increase and profit yield, the short-term mentality of all parties is quite disturbed, and the spot market of coil plate also fluctuates.

The price of raw materials is firm, and the cost of market circulation resources is relatively high, which has a strong supporting effect on the spot price of stainless steel; However, at present, both the spot inventory and warehouse receipt inventory of stainless steel have reached record highs, and there is strong pressure on the upward trend of prices. Later, the price trend of stainless steel will focus on the actual consumption and demand recovery in the downstream. It is expected that the trend of stainless steel will be weak and consolidated in February.

Recently, the price of stainless steel has deviated from that of nickel. After the Lantern Festival, the market traders continued to resume work, leading enterprises strive to make a good start, the pace of production and operation has accelerated, the social inventory of stainless steel has accumulated again, the downstream demand has not yet fully recovered, the supply and demand are mismatched, and stainless steel is temporarily in a stalemate.

However, the price of raw materials is firm, and the cost of market circulation resources is relatively high, which has a strong supporting effect on the spot price of stainless steel; However, at present, both the spot inventory and warehouse receipt inventory of stainless steel have reached a record high, and there is strong pressure on the price rise. The price trend of stainless steel in the later stage will focus on the actual consumption and demand recovery in the downstream, and stainless steel will seek direction in the shock, or adjust the weak shock.

Zhejiang Benji Stainless Steel Co., Ltd.,