Eight consecutive drops in social inventory led to a rise in stainless steel, and the shipbuilding industry is expected to usher in a super cycle-Zhejiang Benji Stainless Steel Co., Ltd

1. Raw material report:
1. Nickel: On December 21, London nickel closed at $16,888, up $34, or 0.02%; Shanghai Nickel 2402 latest price 131610 yuan, up 1470 yuan, an increase of 1.13%; Shanghai high carbon ferrochrome FeCr55C1000(50 base) 8800 yuan /50 base ton. Luoyang ferro molybdenum FeMo60 213,500 yuan/ton, down 4500.
2, stainless steel SS2402 latest price 13,910 yuan, up 80 yuan, an increase of 0.58%; The open position was 98,560 lots and the turnover was 170,507 lots.
3, Qingtuo Wenzhou Haitong freight yard waste stainless steel purchase price:
1), 304 special grade material 9900 yuan/ton, 304 new material 9800 yuan/ton, 304 industrial material/film material 9500 yuan/ton, 304 dry shavings 8700-8900 yuan/ton.
2), 316L industrial material 17100 yuan/ton, 316 clean material 17300 yuan/ton, 316 dry shavings 15500-15700 yuan/ton.
3), 2205 steel plane 14000 yuan/ton, 2205 Angle material 14500 yuan/ton.
Second, Wuxi stainless steel coil reference price
1, TISCO hot rolling guide price:
300 hot rolling series: 15100 yuan/ton of 304/NO.1; 321/ NO.1 of 16,000 yuan/ton; 25,200 yuan/ton for 316L/NO.1.
Middle plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material - 16400 yuan/ton, 321 material 21,200 yuan/ton, 316L material 28600 yuan/ton.
2, Dongte hot rolling guide price:
S30408 material 4-12mm 13200 yuan/ton, 14mm 13400 yuan/ton; 13900 yuan/ton for 16mm;
S31603 material 4-12mm 23,700 yuan/ton, 14mm 24,100 yuan/ton; 24,600 yuan/ton for 16mm;
310S hot rolled plate 3, 4mm 34600 yuan/ton, 5-10mm 33800 yuan/ton, 12mm 34100 yuan/ton, 14mm 35100 yuan/ton.
3, Dongte 2205 hot rolling 24600 yuan/ton, Dingxin 310S material 3mm 34,000 yuan/ton, 4mm 34100 yuan/ton, 5-10mm 33900 yuan/ton.
4, Qingshan hot rolling: 304 material 13200 yuan/ton;
5, Zhangpu guide price: 304 material 14,000 yuan/ton, 321 hot rolled 17,000 yuan/ton; 316L hot rolling 24,300 yuan/ton.
Third, stainless steel pipe rod reference price
1, [Qingshan round steel price ￠65-130 December price] S30400 material 12,800 yuan/ton, 316L material 22,400 yuan/ton, TP321 material 15,700 yuan/ton, 321 material 14,500 yuan/ton.
2, 【 Delong round steel ￠65-130】S30400 material 12700 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 24700 yuan/ton; 2205 material continuous casting billet - 170-250 24200 yuan/ton;
2), TP316L continuous casting billet 150-250:23200 yuan/ton; 3), NO8810 electroslag ingot ￠360-900:64,000 yuan/ton;
4), NO8825 electroslag ingot ￠360-900:97000 yuan/ton; 5), 17-4 electroslag ingot ￠360-900:20000 yuan/ton;
6), 625 vacuum electroslag ingot ￠360-900:203000 yuan/ton; 7), 6600 vacuum electroslag ingot - 360-900:150,000 yuan/ton;
8), C-276 vacuum electroslag ingot ￠360-900:227000 yuan/ton; 9), 718 vacuum electroslag ingot ￠360-900:178000 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 - 25.8 yuan /kg;
Stainless steel seamless pipe S31603 material, specifications 25*2*6000 cold drawn pipe pickling delivery - 37.2 yuan /kg;
Stainless steel seamless pipe S32168 material, specifications 25*2*6000 cold drawn pipe pickling delivery - 29.8 yuan /kg;
Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling pound delivery -- 19.6 yuan /kg;
Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling pound delivery -- 32.1 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 December 21, 2023, the national mainstream market stainless steel social inventory of 852,155 tons, 19,453 tons less than last week, a decrease of 2.23%, of which:
Cold-rolled stainless steel inventory of 477,468 tons, an increase of 1121 tons over the previous week, an increase of 0.24%;
The total inventory of hot-rolled stainless steel is 374,687 tons, 20,574 tons less than last week, a decrease of 5.21%;
The total inventory of 200 series is 143,807 tons, which is 3169 tons less than last week, a decrease of 2.16%;
The total inventory of 300 series is 538,503 tons, 16,014 tons less than last week, a decrease of 2.89%;
The total inventory of 400 series is 169,845 tons, 270 tons less than last week, a decrease of 0.16%.
Wuxis inventory is 513,915 tons, down 13,325 tons from last week, a decrease of 2.53%
Foshan inventory 231,409 tons, 137 tons less than last week, a decrease of 0.06%.
Zibo, Jieyang, Shenyang, Xi an inventory 106,831 tons, 5,991 tons less than last week, a decrease of 5.31%.
5. Market analysis
Fundamental pure nickel spot market transactions continued to improve slightly, Jinchuan nickel transactions improved significantly. At the same time, nickel iron trading has also improved slightly, but the improvement of limited downstream procurement is still more cautious, nickel prices are expected to continue to stabilize and fluctuate for a short time, limited above.
Last week, the total social inventory of stainless steel in the mainstream market in the country was 852,200 tons, down 2.23% week on week, showing eight consecutive declines, the speed to the warehouse has slowed down compared with the previous period, the production end has recovered under the influence of the fall in raw material prices, the current raw material prices have stopped falling and upstream raw material disturbance, the cost end support is strong.
The fundamentals continue to improve, but the spot pressure on the month-on-month growth of production in December is still in, and the recent easing of spot pressure may continue to lead to a rebound, and there is no intention to replenish the downstream before the festival to form a phased boost. Short-term temporary turn to shock, medium - and long-term supply pressure to wait for a slightly empty idea.
Securities Daily: The shipbuilding industry is expected to usher in a super cycle
Clarkson analysis said that new ship capacity has not been put into use, car transport demand is still growing, the lack of capacity is the main reason why prices remain high for a long time. "In the past year, the freight rate of car carriers has risen to a higher level, so there has been an increase in car carrier shipbuilding orders. At present, global shipowners mainly place orders for larger car carriers at Chinese shipyards."
Clarkson also predicted that the global ocean car transport trade in 2023 will increase by 17% year-on-year to 23.7 million vehicles, and the shortage of capacity is difficult to be fundamentally alleviated in the short term.
As of the end of November, Guangsheng International has ordered 80 ships worth 50 billion yuan, of which nearly 60% are high-tech, high value-added methanol dual-fuel or LNG dual-fuel new green ships. At present, the company is the shipbuilding enterprise with the largest number of orders for dual-fuel "green ships" in China.
"We are either number one in the world or number one in China in terms of market segments," Mr Zhang said. "We are already the industry pioneer and leader, with orders in hand until 2028."
On December 5th the pragmatic shipyard allied with Waigaoqiao took the worlds largest order for a car-carrier. At the 2023 China International Maritime Exhibition site, Waigaoqiao and Guangzhou Shipbuilding International signed six new shipbuilding contracts with Seaspan Corporation and Hanxin Shipping (HMM, the former Hyundai Merchant Marine) for 10,800-car LNG dual-fuel vehicle carriers, with a total amount of about 1.46 billion US dollars (about 10.419 billion yuan). It accounted for 17% of China Shipbuildings operating revenue in 2022.
China Shipbuilding announced that the signed ship type is the first time in the history of the world to break through the 10000 parking space of the super large car carrier new shipbuilding project, which is a milestone in the history of the worlds car transport ship type.
As of December 18, Guangship International has won a total of 31 orders for car carriers (including last years orders), ranking first in the world. According to Clarkson, shipping companies across the industry have ordered 80 new ships for 2023, with a total capacity of 677,000 vehicles, and the new order volume represents about 37 percent of the existing fleet capacity.

Zhejiang Benji Stainless Steel Co., Ltd.,