The social inventory of stainless steel continues to grow, and the price may gradually find the bottom-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:

1. Nickel: On February 17, the three-month closing price of London nickel was 25793 US dollars, down 696 US dollars, down 2.63%. The latest continuous price of Shanghai nickel was 202040 yuan, down 2810 yuan, down 1.37%. Shanghai high-carbon ferrochrome FeCr55C1000 (50 base) 9500 yuan/50 base tons, down 100 yuan. Luoyang ferromolybdenum FeMo60 was 363000 yuan/ton, down 2000 yuan.

2. Continuous: the latest price of stainless steel on the 17th was 16470 yuan, down 150 yuan, or 0.90%. The position was 57373 and the trading volume was 26124.

3. Price of Dainan waste stainless steel

201 old pipe 5450-5550; 304 industrial 12600-12800304 new material 12800-12900304 particle 11700-11800.

316 particle 21900-22100; 316 furnace 23800-24000; 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: 18300 yuan/ton of 304/NO.1; 21500 yuan/ton of 321/NO.1; 34100 yuan/ton of 316L/NO.1.

Medium plate (trimming, thickness: 14-20mm, width: 1500mm) 304 material - 20800 yuan/ton, 321 material 26900 yuan/ton, 316L material 36500 yuan/ton.

2. Dongte hot rolling guide price: 16800 yuan/ton for 304 material 4-12mm, 17000 yuan/ton for 14mm; 17500 yuan/ton for 16mm; S31603 material: 32700 yuan/ton for 4-12mm, 33100 yuan/ton for 14mm; 33700 yuan/ton for 16mm;

3. Jiuquan Iron and Steel 2205 hot rolled 34600 yuan/ton; Dongte 2205 hot rolling is 34200 yuan/ton.

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

5. Zhangpu guidance price 304 material 17700 yuan/ton, 321 hot rolled 20300 yuan/ton; 316L hot rolling 33500 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 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 - 41.1 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 16, 2023, the social inventory of stainless steel in the national mainstream market was 1400518 tons, an increase of 12919 tons or 0.93% over the previous week, including:

The total inventory of cold-rolled stainless steel was 810393 tons, an increase of 13100 tons or 1.28% over the previous week;

The total inventory of hot-rolled stainless steel was 590125 tons, down 181 tons or 0.03% from last week;

The total inventory of the 200 series was 289555 tons, a decrease of 5342 tons or 1.81% over the previous week;

The total inventory of 300 series was 871533 tons, an increase of 12978 tons or 1.51% over the previous week;

The total inventory of 400 series was 239430 tons, an increase of 5283 tons or 2.26% over the previous week.

Wuxis inventory was 724986 tons, an increase of 11686 tons or 1.61% over the previous week.

Foshans inventory was 492975 tons, down 8296 tons or 1.65% from last week.

The inventory of Zibo, Jieyang, Shenyang and Xian was 182577 tons, an increase of 9529 tons or 5.51% over the previous week.

5、 Market analysis

At present, nickel is still in the contradiction between the negative situation of the middle line and the low inventory situation. In the later stage, both pure nickel and nickel intermediate products have a large increase. The supply and demand of refined nickel may turn into surplus, and the middle line is expected to be short. In the short term, the dominant inventory of refined nickel in the world is still at a historical low, and the nickel price rises more flexibly under the condition of low inventory and low warehouse receipt, and the price is dominated by fund sentiment. Although the current nickel price has been at a historical high and there is an obvious overestimation compared with other products in the industrial chain, the status of low inventory and low warehouse receipt has not changed temporarily, and the risk of warehouse squeeze has not been lifted. It is recommended to wait and see for the time being.

At present, stainless steel is in the pattern of high inventory and high warehouse receipt, high cost and low profit, weak reality and strong expectations. Although stainless steel inventory and warehouse receipt were at a high level, the price of stainless steel futures continued to fall in the first ten days of February, and to a certain extent, the high inventory gap had been realized. At the current price, the steel factory profit was in a loss state, which formed a certain constraint on supply. Although consumption was still flat, it showed marginal improvement step by step. The price of stainless steel futures continued to decline relatively limited. Later, under the impact of cost support and the expected recovery of mid-line consumption, The price of stainless steel may be gradually bottomed out.

Zhejiang Benji Stainless Steel Co., Ltd.,