The center of gravity of nickel iron prices has shifted downwards, and stainless steel lacks initiative in falling-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw Material Report:

1. Nickel: On June 29th, the closing price of nickel in London was $20634, up $578, or 2.89%; The latest price of Shanghai Nickel 2308 is 157400 yuan, up 2010 yuan or 1.30%. Shanghais high carbon ferrochrome FeCr55C1000 (50 base) is 9000 yuan/50 base tons, down 100 yuan. Luoyang molybdenum iron FeMo60 dropped by 2000 yuan or 0.79% to 251500 yuan/ton.

2. The latest price of stainless steel SS2308 is 14710 yuan, up 85 yuan, or 0.59%; The holding amount is 69038 hands, and the trading volume is 36240 hands.

3. Price of Dainan waste stainless steel

201 New materials 5500-5600304 Industrial 10700-10800304 New materials 10800-10900304 Particleboard 9800-9900;

316 shavings 17800-18000316 large furnace 19200-19400310 clinker 26900-27000;

430 No film 4400-4500431 Returned material 4000-4100.

2、 Wuxi stainless steel plate coil reference price

III

1. Taiyuan Iron and Steel Hot Rolling Guiding Price:

300 hot rolled series: 15900 yuan/ton for 304/NO.1; 17800 yuan/ton for 321/NO.1; 27300 yuan/ton for 316L/NO.1.

Medium plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material -16500 yuan/ton, 321 material 22600 yuan/ton, 316L material 31900 yuan/ton.

2. Dongte Hot Rolling Guiding Price:

S30408 material: 14500 yuan/ton for 4-12mm, 14700 yuan/ton for 14mm; 15200 yuan/ton for 16mm;

S31603 material: 26300 yuan/ton for 4-12mm, 26700 yuan/ton for 14mm; 27200 yuan/ton for 16mm;

310S hot-rolled flat plate 3: 38100 yuan/ton for 4mm, 37200 yuan/ton for 5-12mm, and 38300 yuan/ton for 14mm.

3. Dongte 2205 hot rolled at 27800 yuan/ton.

4. Qingshan hot rolling: 304 material 14300 yuan/ton;

5. Zhangpu guide price: 15400 yuan/ton for 304 materials, 18500 yuan/ton for 321 hot-rolled materials; 316L hot-rolled 27100 yuan/ton.

3、 Reference price of stainless steel pipe and rod

1. The July price of Qingshan round steel is ? 65-130. S30400 material is 14600 yuan/ton, 316L material is 25400 yuan/ton, TP321 material is 17700 yuan/ton, and 321 material is 16500 yuan/ton. 304 raw pipe round steel price+800316L raw pipe round steel price+1000321 raw pipe round steel price+900.

2. S30400 material is 14700 yuan/ton, and 316L material is 25200 yuan/ton.

3. Yongxing Bar Material ? 65-130: 304 material 18000 yuan/ton, TP321 material 20800 yuan/ton, 316L material 31300 yuan/ton, 316LGB material 35300 yuan/ton, S22053 material 33000 yuan/ton.

4. Fukai Market Price:

1) 2205 material ? 65-130 round steel 29400 yuan/ton; 2) TP316L continuous casting billet ? 150-250: 26500 yuan/ton; 3) 2205 continuous casting billet ? 170-250: 27800 yuan/ton;

4) NO8810 electroslag ingot ? 360-900: 80000 yuan/ton; 5) NO8825 electroslag ingot ? 360-900: 122000 yuan/ton; 6) 17-4 electroslag ingot ? 360-900: 22000 yuan/ton;

7) 625 vacuum electroslag ingot ? 360-900: 245000 yuan/ton; 8) 6600 vacuum electroslag ingots ? 360-900: 179000 yuan/ton; 9) C-276 vacuum electroslag ingot ? 360-900: 247000 yuan/ton;

10) 718 vacuum electroslag ingot ? 360-900: 21300 yuan/ton;

11) Jiangyin Hanzhou 2205/F60 material is 28500 yuan/ton, 2507 material/F53 material is 37500 yuan/ton, and 630/17-4PH material is 18000 yuan/ton.

12) Wuxi Puhengjia 304L material: 18200 yuan/ton for ? 140-250, 18400 yuan/ton for ? 260-400; The 316L material costs 27700 yuan/ton for ? 140-250, and 27900 yuan/ton for ? 260-400.

5. Zhejiang Benji Pipe Reference Price

Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000, cold drawn pipe, pickled and weighed for delivery -28.8 yuan/kg;

Stainless steel seamless pipe S31603 material, specification 25 * 2 * 6000, cold drawn pipe, pickled and weighed for delivery -41.5 yuan/kg;

Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000, cold drawn pipe, pickled and weighed for delivery -32.8 yuan/kg;

Stainless steel welded pipe 30408 material, specifications 219-813 * 4-6, pickled and weighed for delivery -21.6 yuan/kg;

Stainless steel welded pipe S31603 material, specifications 219-813 * 4-6, pickled and weighed for delivery -34.9 yuan/kg;

Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, pickled and weighed for delivery -28.1 yuan/kg.

4、 Statistical data (according to Mysteel research):

On June 29, 2023, the social inventory of stainless steel in the mainstream market nationwide was 990093 tons, a decrease of 14908 tons or 1.48% compared to last week. Among them:

The total inventory of cold rolled stainless steel is 495291 tons, an increase of 4302 tons or 0.88% compared to the previous week;

The total inventory of hot-rolled stainless steel is 494802 tons, a decrease of 19210 tons or 3.74% compared to last week;

The total inventory of the 200 series is 201537 tons, a decrease of 14588 tons or 6.75% compared to last week;

The total inventory of the 300 series is 555419 tons, an increase of 1867 tons or 0.34% compared to the previous week;

The total inventory of the 400 series is 233137 tons, a decrease of 2187 tons or 0.93% compared to last week.

Wuxis inventory is 550443 tons, a decrease of 2426 tons or 0.44% compared to last week.

Foshans inventory is 272514 tons, a decrease of 5691 tons or 2.05% compared to last week.

Zibo, Jieyang, Shenyang, and Xian have 167136 tons of inventory, a decrease of 6791 tons or 3.90% compared to last week.

5、 Market analysis

Nickel is in a pattern of low inventory, high profits, and weak expectations. The supply and demand of nickel in the central line are bearish. Currently, nickel production capacity is in a high profit state, stimulating rapid supply growth. In the later stage, there is a significant increase in the supply of pure nickel, nickel iron, and nickel intermediate products. The primary nickel is transitioning from structural surplus to comprehensive surplus, and the nickel central line hedging maintains a bearish mentality when facing high prices. However, due to the fact that global refined nickel inventory is still at a historical low, and the elasticity of nickel price rise is relatively high, there is still uncertainty in short-term macroeconomic sentiment. Nickel prices may remain weak and volatile, so it is recommended to temporarily wait and see.

In this issue, the social inventory of the mainstream stainless steel market in China continues to decrease, mainly reflected in a small increase in inventory of 300 series cold rolled stainless steel, but the overall change is not significant. Due to the fluctuating downward trend of the stainless steel futures market, market confidence is insufficient, and there is often a sense of confusion about the future market. Therefore, traders and agents actively reduced inventory during the week, promoting transactions with discounts, and some downstream customers have restocking needs, promoting a decrease in social inventory; The increase in inventory of the 300 series is mainly reflected in the Foshan market, where the lower prices exacerbate the downstream wait-and-see mentality, resulting in weak transactions and the arrival of spot resources from steel mills, indicating an increase in inventory.

304 stainless steel is in a pattern of increasing supply and weak consumption in the off-season. In June, the production of 300 series stainless steel was at a high level, while the performance of terminal consumption was average. Moreover, the high profit status of nickel iron combined with the continuous expansion of new production capacity may lead to a downward trend in the price center of nickel iron in the later stage, and the upward space for stainless steel prices is limited. However, the current contradiction of stainless steel itself is not prominent, and inventory continues to decline to medium to low levels. Under the current price, stainless steel prices have insufficient initiative to decline, and may operate in the short term or in a volatile manner. In the future, we will approach it with the idea of selling short when high.

Zhejiang Benji Stainless Steel Co., Ltd.,