The decline of ferromolybdenum has expanded, and the inventory of stainless steel market has decreased by 45000 tons-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:

1. Nickel: On March 23rd, the three-month closing price of nickel in London was $22767, down $597, or 2.56%; Shanghai Nickel 2304 closed at 175920 yuan, up 1050 yuan, or 0.60%. Shanghai High Carbon Ferrochrome FeCr55C1000 (50 base) 9100 yuan/50 base tons. Luoyang ferromolybdenum FeMo60 was 245000 yuan/ton, down 16000 yuan.

2. Stainless steel SS2305: On March 23, the closing price was 15215 yuan, down 70 yuan, down 0.46%; Positions were 86303 and trading volume was 47443.

3. Price of Dainan waste stainless steel

201 New material 5700-5800304 Industrial 11000-11200304 New material 11100-11200304 Particleboard 10100-10200;

316 particle 18100-18200316 furnace 19900-20000310 clinker 28000-29000;

430 No Film 4600-4800431 Return Material 3950-4050

2、 Reference price of Wuxi stainless steel plate and roll

1. Taiyuan Iron and Steel Hot Rolling Guide Price:

300 hot rolled series: RMB 16800/ton of 304/NO.1; RMB 20300/ton for 321/No.1; 29800 yuan/ton for 316L/NO.1.

Medium plate (trimming, thickness: 14-20mm, width: 1500mm) 304 material - 19300 yuan/ton, 321 material 25300 yuan/ton, 316L material 34800 yuan/ton.

2. Dongte hot rolling guide price:

S30408 material: 15400 yuan/ton for 4-12mm, 15600 yuan/ton for 14mm; 16100 yuan/ton for 16mm;

S31603 material: 28800 yuan/ton for 4-12mm, 29200 yuan/ton for 14mm; 29700 yuan/ton for 16mm;

310S hot rolling: 42300 yuan/ton for 3 and 4mm, 41500 yuan/ton for 5-12mm, 42500 yuan/ton for 14mm.

3. Jiuquan Iron and Steel 2205 hot rolling 31300 yuan/ton; Dongte 2205 hot rolled 30500 yuan/ton.

4. Qingshan hot rolling: 304 material 15300 yuan/ton;

5. Zhangpu guidance price: 16400 yuan/ton for 304 materials, 19900 yuan/ton for 321 hot rolling; 316L hot rolled 29600 yuan/ton.

3、 Reference price of stainless steel tube and rod

1. [Qingshan Round Steel Price: ￠ 65-130] The price is 15320 yuan/ton for S30400 materials, 26500 yuan/ton for 316L materials, 18300 yuan/ton for TP321 materials, and 17100 yuan/ton for 321 materials. 304 raw pipe round steel price+900316L raw pipe round steel price+1000321 raw pipe round steel price+900.

2. [Delong Round Steel ￠ 65-130] S30400 material: 15300 yuan/ton, 316L material: 26400 yuan/ton.

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

4. [Huaxin Lihua ￠ 65-130] S30400 material: 19300 yuan/ton, 316LS material: 33800 yuan/ton, 32107 material: 21500 yuan/ton.

5. [Fukai Round Steel Market Price] ￠ 65-130: Jiangyin Hanzhou 2205/F60 material 33500 yuan/ton, 2507 material/F53 material 40500 yuan/ton, 630/17-4PH material 18500 yuan/ton. Wuxi Puhengjia 304L material: 17600 yuan/ton for ￠ 140-250, 17800 yuan/ton for ￠ 260-400; 316L material: 28600 yuan/ton for ￠ 140-250, 28800 yuan/ton for ￠ 260-400.

6. [Reference price of Zhejiang Penji pipe material]

Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold drawn pipe, pickling, weighing, delivery - 28 yuan/kg;

Stainless steel seamless pipe S31603 material, specification: 25 * 2 * 6000 cold drawn pipe, pickling, weighing, delivery - 42.6 yuan/kg;

Stainless steel seamless pipe S32168 material, specification: 25 * 2 * 6000 cold drawn pipe, pickling, weighing, delivery - 32.5 yuan/kg;

Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, pickling, weighing and delivery - 21.8 yuan/kg;

Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid washed, weighed and delivered - 37.2 yuan/kg;

Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, acid washed, weighed and delivered - 29.3 yuan/kg.

4、 Statistical data:

On March 23, 2023, the social inventory of stainless steel in the national mainstream market was 1307247 tons, a decrease of 44821 tons or 3.31% compared to last week, including:

The total inventory of cold rolled stainless steel was 772728 tons, a decrease of 32193 tons or 4.00% compared to last week;

The total inventory of hot rolled stainless steel was 534519 tons, an increase of 12628 tons or a decrease of 2.31% compared to the previous week;

The total inventory of the 200 series was 280213 tons, a decrease of 25981 tons or 8.49% compared to last week;

The total inventory of the 300 series was 787714 tons, a decrease of 24247 tons or 2.99% compared to last week;

The total inventory of the 400 series was 239320 tons, an increase of 5407 tons or 2.31% compared to the previous week.

Wuxis inventory was 707982 tons, a decrease of 25891 tons or 3.53% compared to last week.

Foshans inventory was 433142 tons, down 15893 tons or 3.54% from last week.

Zibo, Jieyang, Shenyang, and Xian have 166123 tons of inventory, a decrease of 3037 tons or 1.80% compared to last week.

5、 Market analysis

Currently, nickel is still in the contradiction between a negative middle line situation and a low inventory situation. There is a significant increase in both pure nickel and nickel intermediate products in the later stage, and the excess supply and demand of refined nickel may significantly expand, leading to a negative middle line supply and demand for nickel. As the incremental refining nickel production capacity gradually becomes clear, the impact of deliverable factors continues to decline, and nickel prices will gradually return to rational supply and demand, and prices may continue to decline. However, due to the fact that the dominant inventory of refined nickel and futures warehouse receipts are still at a relatively low level, the impact of financial sentiment cannot be ignored, and the current price of pure nickel is rapidly narrowing compared to the nickel sulfate premium. Nickel prices are mainly short selling at high points, and excessive short selling is not recommended.

The peak season is not strong, and it is estimated that the off-season is not weak either. The seasonal peak season may be delayed, and consumption may improve in April compared to the previous month. However, it may still be difficult to see a significant rebound in consumption for the time being, and it will take time to wait. After the recent continuous decline in the price of stainless steel, inventory began to slowly decrease, but high inventory pressure caused a cost collapse, coupled with the impact of macro negative sentiment. Market pessimism spread, and spot prices accelerated to decline. In the short term, 304 stainless steel is still in the active inventory removal stage. Before the pressure on nickel iron and stainless steel high inventory is relieved, stainless steel prices may still be weak, but there is also an undervaluation phenomenon in current prices, In the later stage, the main focus will be on the possible changes brought about by the production reduction, terminal consumption, and stock removal of steel mills.

Zhejiang Benji Stainless Steel Co., Ltd.,