Molybdenum production has decreased, global supply is tight, and cost side support for stainless steel prices is still ongoing-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On May 30th, the closing price of nickel in London was $20063, down $427, or 2.08%; The latest price of Shanghai nickel 2407 is 149700 yuan, down 3910 yuan, or 2.55%; Shanghai high carbon ferrochrome FeCr55C1000 (50 base) costs 9100 yuan/50 base tons. Luoyang molybdenum iron costs 251500 yuan/ton.
2. The latest price of stainless steel SS2409 is 14610 yuan, down 145 yuan, or 0.98%; The holding amount is 166831 lots, and the trading volume is 148778 lots.
3. Purchase price of waste stainless steel at Fujian Qingtuo Yongchang Freight Yard:
1) 304 first grade white material (small punch plate, laser material, round steel, edge wire) costs 10150-10200 yuan/ton, and 304 new pipe head edge material costs 10150 yuan/ton.
2) 316 new pipe head corner material costs 18700 yuan/ton, and 316 first grade white material (small punching plate, laser material, round steel, edge wire) costs 18800-19000 yuan/ton.
3) 2205 whiteboard, thick tube, and round steel are priced at 19200 yuan/ton, 2507 whiteboard, thick tube, and round steel are priced at 22500 yuan/ton, and 2520 whiteboard, tube plate, and round steel are to be received.
2、 Wuxi stainless steel plate coil reference price
1. Taiyuan Iron and Steel Hot Rolling Guide Price:
300 hot-rolled series: 15700 yuan/ton for 304/NO.1; 16300 yuan/ton for 321/NO.1; 26200 yuan/ton for 316L/NO.1.
Middle plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material -17100 yuan/ton, 321 material: 19300 yuan/ton, 316L material: 29000 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material costs 13800 yuan/ton for 4-12mm and 14000 yuan/ton for 14mm; 14200 yuan/ton for 16mm;
S31603 material: 24500 yuan/ton for 4-12mm, 24800 yuan/ton for 14mm; 25000 yuan/ton for 16mm;
310S hot-rolled flat plate 3, 4mm 34800 yuan/ton, 5-10mm 34000 yuan/ton, 12mm 34300 yuan/ton, 14mm 35300 yuan/ton.
2205 hot-rolled 26100 yuan/ton
3. Qingshan Hot Rolling: 304 material 13600 yuan/ton; Dingxin 310S material costs 34600 yuan/ton for 3mm, 34700 yuan/ton for 4mm, and 34500 yuan/ton for 5-10mm.
4. Zhangpu guide price: 14000 yuan/ton for 304 material, 16300 yuan/ton for 321 hot-rolled; 316L hot-rolled at 24900 yuan/ton.
3、 Reference price for stainless steel pipes and rods
1. The May price of Qingshan round steel is ? 65-130. S30400 material is priced at 13600 yuan/ton, 316L material is priced at 24100 yuan/ton, TP321 material is priced at 16400 yuan/ton, and 321 material is priced at 15200 yuan/ton.
2. The price of S30400 material in May is 13200 yuan/ton for ? 160-260, and 13300 yuan/ton for ? 300-360. 316L material costs 23700 yuan/ton for ? 160-260, and 23800 yuan/ton for ? 300-360. 24500 yuan/ton for 2205 material ? 160-260. 2507 material ? 160-260 for 30000 yuan/ton.
3. Yongxing Bar Material ? 65-130: 304 material costs 16700 yuan/ton, TP321 material costs 19200 yuan/ton, 316L material costs 28500 yuan/ton, 316LGB material costs 31500 yuan/ton, S22053 material costs 30000 yuan/ton.
4. [Fukai Market Price]:
1) 2205 (F60) material ? 150-300 round steel 26000 yuan/ton; ? 65-130 round steel, 26500 yuan/ton;
2) 310S material: 37000 yuan/ton for ? 150-300, 37500 yuan/ton for ? 65-130; 29000 yuan/ton for 309S material ? 65-130;
3) S32750 (F53) material ? 150-300 round steel 32500 yuan/ton; ￥ 65-130 round steel costs 36000 yuan/ton. S32760 (F55) material ? 65-130 round steel 42000 yuan/ton.
4) 316L ? 65-130 round steel at 25500 yuan/ton; 316Ti ? 65-130 round steel 29100 yuan/ton; National standard 316L ? 65-130 round steel 33500 yuan/ton; German standard 316 material ? 65-130 round steel 29200 yuan/ton; 317L ? 65-130 round steel 37000 yuan/ton;
5) 19300 yuan/ton for 321H material ? 65-130; 22300 yuan/ton for 347H material ? 65-130;
6) NO8810 ? 200-250 round steel 73000 yuan/ton; ? 65-130 yuan/ton for round steel.
7) NO7718 ? 200-250 round steel costs 178000 yuan/ton; ￥ 65-130 round steel costs 183000 yuan/ton;
8) NO8028 ? 200-250 round steel costs 98000 yuan/ton, ? 65-130 round steel costs 102000 yuan/ton;
9) NO8120 ? 200-250 round steel 98000 yuan/ton, ? 65-130 round steel 101000 yuan/ton;
10) 630 material (17-4) ? 150-300 round steel costs 16300 yuan/ton, ? 65-130 round steel costs 17000 yuan/ton; 631 material (17-7) ? 65-130 round steel, 19800 yuan/ton; 632 material (15-7Mo) ? 65-130 round steel 29500 yuan/ton;
11) 218000 yuan/ton for NO6625 material ? 200-250; ? 65-130 round steel, 222000 yuan/ton;
12) 144000 yuan/ton for NO6601 material ? 200-250; 147000 yuan/ton for ? 65-130.
13) 160000 yuan/ton for NO6600 material ? 200-250; 165000 yuan/ton for ? 65-130.
14) 235000 yuan/ton for NO10276 ? 200-250; ￥ 65-130 round steel 242000 yuan/ton;
15) XM-19 ? 65-130 round steel at 38000 yuan/ton;
16) S31254 material ? 65-130 round steel costs 68000 yuan/ton.
17) 904L material ? 65-130 round steel 69000 yuan/ton.
18) NO8926/1.4529 material ? 200-250 round steel 91000 yuan/ton, ? 65-130 round steel 81000 yuan/ton,;
19) NO8825 material ? 200-250 round steel 108000 yuan/ton, ? 65-130 round steel 113000 yuan/ton;
20) XM-19 material ? 65-130 round steel costs 38000 yuan/ton, and 15-5PH (XM-12) material ? 65-130 round steel costs 19200 yuan/ton.
21) 178000 yuan/ton for NO3030 material ? 200-250; ￥ 65-130 round steel costs 182000 yuan/ton.
155000 yuan/ton for NO4400 material ? 200-250;
22) 169000 yuan/ton for NO4400 material ? 200-250; ? 65-130 round steel costs 172000 yuan/ton.
23) 1.4460 material ? 65-130 round steel costs 26800 yuan/ton.
24) Wuxi Puheng Forged Round 304L Material: 15600 yuan/ton for ? 140-250, 16300 yuan/ton for ? 260-400; 316L material: 26200 yuan/ton for ? 140-250, 26400 yuan/ton for ? 260-400.
5. [Zhejiang Benji Pipe Reference Price]
Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -26.8 yuan/kg;
Stainless steel seamless pipe S31603 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -39.8 yuan/kg;
Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -30.5 yuan/kg;
Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -20.3 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid washed and weighed for delivery -33.3 yuan/kg;
Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, acid washed and weighed for delivery -25.9 yuan/kg.
4、 Statistical data:
According to Mysteel research:
On May 30, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1084987 tons, an increase of 16342 tons or 1.53% compared to the previous week. Among them:
The total inventory of cold-rolled stainless steel is 692703 tons, an increase of 4251 tons or 0.62% compared to last week;
The total inventory of hot-rolled stainless steel is 392279 tons, an increase of 12091 tons or 3.18% compared to last week;
The total inventory of the 200 series is 207718 tons, an increase of 4133 tons or 2.03% compared to the previous week;
The total inventory of the 300 series is 716740 tons, an increase of 9104 tons or 1.29% compared to last week;
The total inventory of the 400 series is 1605241 tons, an increase of 3105 tons or 1.97% compared to last week.
Wuxis inventory is 648357 tons, a decrease of 14792 tons or 2.32% compared to last week;
Foshans inventory is 337624 tons, an increase of 28764 tons or 9.31% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have 99001 tons of inventory, an increase of 2370 tons or 2.45% compared to last week.
5、 Market analysis
Molybdenum production has decreased, especially in Chile, with global supply being tight.
Last week, the ferromolybdenum market was affected by the global shortage of molybdenum oxide. There are reports that the production of molybdenum mines has decreased, especially in the Chilean region. According to reports, the onshore cost of molybdenum oxide in India is around 2.6 million rupees per ton (31208 US dollars per ton), which has led to an increase in the price of ferromolybdenum in India. On May 29th, the ex factory price of 60% molybdenum iron in Nagpur, India was 2740000 rupees per ton (32888 US dollars per ton).
The ex factory price of 60 molybdenum iron in Inner Mongolia, China remained stable on a weekly basis, at 250000 yuan/ton (34505 US dollars/ton). There is still a shortage of molybdenum concentrate in the domestic market in China. Prices in other major markets such as the United States, Europe, and South Korea have also remained stable. The price of the London Metal Exchange (LME) has also remained stable, with a price of $22.69 per pound on May 28th, a slight increase of $0.80 per pound on a weekly basis.
Yesterdays statistical data showed that stainless steel inventories continue to remain high, with greater pressure. Currently, supply is high and demand is weak. In April, domestic stainless steel production rebounded to a high level, while terminal consumption remained weak, with delayed demand leading to delayed destocking and a slight decrease in inventory during the week. At present, the profits of stainless steel and nickel iron factories have been partially repaired, but the phenomenon of cost inversion has not been completely eliminated, and there is still some support for the price of stainless steel on the cost side. The current macro expectations are positive, and in the short term, stainless steel prices may experience strong fluctuations. However, there will be some excess production capacity for nickel iron and stainless steel in the later stage. Once the profit situation improves and production capacity is released, stainless steel prices may fluctuate around the cost line in the long run.

Zhejiang Benji Stainless Steel Co., Ltd.,