Nickel price underestimation phenomenon, nickel iron plant, stainless steel plant losses intensified-Zhejiang Benji Stainless Steel Co., Ltd

1. Raw material report:
1, nickel: On November 27, London nickel closed at $16,079, down $59, or 0.37%; Shanghai nickel 2401 latest price 123560 yuan, down 740 yuan, down 0.60%; Shanghai high carbon ferrochrome FeCr55C1000(50 base) 8800 yuan /50 base ton. Luoyang ferro molybdenum FeMo60 193500 yuan/ton, up 2000 yuan.
2, stainless steel SS2401 latest price 13610 yuan, down 10 yuan, down 0.07%; The open position was 137,198 lots and the trading volume was 81,355 lots.
3, Qingtuo Wenzhou Binhai Sixteen Road freight yard waste stainless steel purchase price:
1), 304 special grade material 9600 yuan/ton, 304 new material 9500 yuan/ton, 304 industrial material/film material 9200 yuan/ton, 304 dry shavings 8400-8600 yuan/ton.
2), 316L industrial material 16200 yuan/ton, 316 new material 16400 yuan/ton, 316 dry shavings 14300-14500 yuan/ton.
3), 2205 steel plane 14000 yuan/ton, 2205 Angle material 14500 yuan/ton, 2520 charge 22000-23000 yuan/ton.
Second, Wuxi stainless steel coil reference price
1, TISCO hot rolling guide price:
300 hot rolling series: 304/NO.1 of 14,900 yuan/ton; 16,200 yuan/ton of 321/ NO.1; 24,300 yuan/ton for 316L/NO.1.
Middle plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material - 16600 yuan/ton, 321 material 21300 yuan/ton, 316L material 29000 yuan/ton.
2, Dongte hot rolling guide price:
S30408 material 4-12mm 13100 yuan/ton, 14mm 13300 yuan/ton; 13800 yuan/ton for 16mm;
S31603 material 4-12mm 22800 yuan/ton, 14mm 23200 yuan/ton; 23,700 yuan/ton for 16mm;
310S hot rolled plate 3, 4mm of 35,000 yuan/ton, 5-12mm of 34100 yuan/ton, 14mm of 35200 yuan/ton.
3, Dongte 2205 hot rolling 25200 yuan/ton, Dingxin 310S material 3mm 34100 yuan/ton, 5-10mm 344,000 yuan/ton.
4, Qingshan hot rolling: 304 material 13000 yuan/ton;
5, Zhangpu guide price: 304 material 13,900 yuan/ton, 321 hot rolled 17,000 yuan/ton; 316L hot rolling 23800 yuan/ton.
Third, stainless steel pipe rod reference price
1, [Qingshan round steel price ￠65-130 October price] S30400 material 13,200 yuan/ton, 316L material 22,300 yuan/ton, TP321 material 16,100 yuan/ton, 321 material 14,900 yuan/ton. 304 round steel price +800,316L series round steel price +1000,321 series round steel price +900.
2, 【 Delong round steel ￠65-130】S30400 material 13200 yuan/ton, 316L material yuan/ton seal.
3, [Yongxing bar ￠65-130] 304 material 16,300 yuan/ton, TP321 material 18,900 yuan/ton, 316L material 27500 yuan/ton, 316LGB material 30700 yuan/ton, S22053 material 29000 yuan/ton.
4. 【 Fukai Market price 】 :
1), 2205 material ￠65-130 round steel 25000 yuan/ton; 2205 material continuous casting billet - 170-250 24500 yuan/ton;
2), TP316L continuous casting billet 150-250:23200 yuan/ton; 3), NO8810 electroslag ingot ￠360-900:69,000 yuan/ton;
4), NO8825 electroslag ingot ￠360-900:102000 yuan/ton; 5), 17-4 electroslag ingot ￠360-900:20000 yuan/ton;
6), 625 vacuum electroslag ingot ￠360-900:208000 yuan/ton; 7), 6600 vacuum electroslag ingot - 360-900:155,000 yuan/ton;
8), C-276 vacuum electroslag ingot ￠360-900:232000 yuan/ton; 9), 718 vacuum electroslag ingot ￠360-900:183,000 yuan/ton;
10), Jiangyin Hanzhou 2205/F60 material 29500 yuan/ton, 2507 material /F53 material 38000 yuan/ton, 630/17-4PH material 18000 yuan/ton.
11), Wuxi Puheng Forging round 304L material 15100 yuan/ton of 140-250, 15300 yuan/ton of 260-400; 316L material 24400 yuan/ton of 140-250, 24600 yuan/ton of 260-400.
5, 【 Zhejiang Benji pipe reference price 】
Stainless steel seamless pipe 30408 material, specifications 25*2*6000 cold drawn pipe pickling delivery - 26.3 yuan /kg;
Stainless steel seamless pipe S31603 material, specifications 25*2*6000 cold drawn pipe pickling delivery - 37.7 yuan /kg;
Stainless steel seamless pipe S32168 material, specifications 25*2*6000 cold drawn pipe pickling delivery - 30.3 yuan /kg;
Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling pound delivery -- 19.5 yuan /kg;
Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling pound delivery -- 31.2 yuan /kg;
Stainless steel welded pipe 32168 material, specification 219-813*4-6 pickling pound delivery -- 26.4 yuan /kg.
Iv. Statistical Data:
According to Mysteel:
On November 23, 2023, the national mainstream market stainless steel social inventory of 995,282 tons, down 19,650 tons from last week, a decrease of 1.94%, of which:
Cold-rolled stainless steel inventory 544,924 tons, an increase of 2986 tons over the previous week, an increase of 0.55%;
The total inventory of hot-rolled stainless steel is 450,358 tons, 22,636 tons less than last week, a decrease of 4.79%;
The total inventory of 200 series is 174,662 tons, down 1820 tons from last week, a decrease of 1.03%;
The total inventory of 300 series is 636,786 tons, 10384 tons less than last week, a decrease of 1.60%;
The total inventory of 400 series is 183,834 tons, 7446 tons less than last week, a decrease of 3.89%.
Wuxis inventory is 582,331 tons, down 8134 tons from last week, a decrease of 1.38%
Foshans inventory is 291,995 tons, down 2065 tons from last week, down 0.70%.
Zibo, Jieyang, Shenyang, Xi an inventory 120,956 tons, 9,451 tons less than last week, a decrease of 7.25%.
5. Market analysis
1, ferro molybdenum: the domestic molybdenum price rose slightly, the mainstream price of ferro molybdenum in 18.9-196,000 yuan/ton.
2. Ferrochrome:
Baosteel Desheng December high-carbon ferrochrome 50 base tons of cash including tax purchase to the factory price of 8495 yuan, down 200 yuan from the previous month.
3 Nickel iron:
The current pattern of strong supply and weak demand has not changed, nickel supply continues to grow, but consumption has not improved, the surplus pattern continues, and nickel supply and demand are empty. At present, the primary nickel has been in a comprehensive surplus state, refined nickel domestic inventory, LME inventory continued to accumulate, the recent nickel iron nickel wet process intermediates from Indonesia concentrated back to the domestic, nickel industry chain supply is abundant, coupled with the recent weakening of nickel iron, nickel sulfate prices, purchased raw material production of electric nickel costs fell significantly. However, due to the recent decline in nickel prices, nickel industry profits contracted seriously, nickel prices compared with other links in the industry chain and even underestimated the phenomenon, nickel prices downward initiative is insufficient, short-term prices or weak shocks.
4, stainless steel:
There is a certain excess of stainless steel production capacity, and the cost end price center continues to move down, but because the weakening of stainless steel prices is larger, nickel-iron plants, stainless steel plants have increased losses, stainless steel prices are down or limited, and the current actual production reduction of stainless steel plants is relatively large, coupled with good macro expectations, stainless steel prices or weak operation

Zhejiang Benji Stainless Steel Co., Ltd.,