Indonesia is considering terminating some nickel iron production certification, leading to a significant increase in domestic stainless steel exports in May-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On June 13th, the closing price of nickel in London was $17372, up $78, or 0.45%; The latest price of Shanghai nickel 2407 is 135400 yuan, up 1760 yuan or 1.32%; Shanghai high carbon ferrochrome FeCr55C1000 (50 base) costs 9100 yuan/50 base tons. Luoyang molybdenum iron costs 249000 yuan/ton.
2. The latest price of stainless steel SS2409 is 13975 yuan, up 95 US dollars or 0.68%; The holding amount is 167100 lots, and the trading volume is 181008 lots.
3. Purchase price of waste stainless steel at Fujian Qingtuo Yongchang Freight Yard:
1) 304 first grade white material (small punching plate, laser material, round steel, edge wire) costs 9900-10000 yuan/ton, and 304 new pipe head edge material costs 9800 yuan/ton.
2) 316 new pipe head corner material costs 18400 yuan/ton, and 316 first grade white material (small punching plate, laser material, round steel, edge wire) costs 18500-18800 yuan/ton.
3) 2205 whiteboard, thick tube, and round steel are priced at 18800 yuan/ton, 2507 whiteboard, thick tube, and round steel are priced at 21600 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: 15300 yuan/ton for 304/NO.1; 16200 yuan/ton for 321/NO.1; 26100 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: 28900 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material costs 13500 yuan/ton for 4-12mm and 13700 yuan/ton for 14mm; 13900 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 plates are priced at 35300 yuan/ton for 4mm, 34500 yuan/ton for 5-10mm, 34800 yuan/ton for 12mm, and 35800 yuan/ton for 14mm.
2205 hot-rolled 26100 yuan/ton
3. Qingshan hot rolling: 304 material 13300 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: 13600 yuan/ton for 304 material, 16300 yuan/ton for 321 hot-rolled; 316L hot-rolled at 25100 yuan/ton.
3、 Reference price for stainless steel pipes and rods
1. The June price of Qingshan round steel is ? 65-130. S30400 material costs 13100 yuan/ton, 316L material costs 23700 yuan/ton, TP321 material costs 15900 yuan/ton, and 321 material costs 14700 yuan/ton.
2. Zhejiang Friendship New Materials: The price of 304 material is 12800 yuan/ton for ? 160-260, and 12900 yuan/ton for ? 300-360. 316L material costs 23300 yuan/ton for ? 160-260, and 23400 yuan/ton for ? 300-360. 2205 material ? 160-260, 24400 yuan/ton. 29800 yuan/ton for 2507 material ? 160-260.
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 25000 yuan/ton; ? 65-130 round steel, 25000 yuan/ton;
2) 310S material: 34500 yuan/ton for ? 150-300, 34500 yuan/ton for ? 65-130; 26600 yuan/ton for 309S material ? 65-130;
3) S32750 (F53) material ? 150-300 round steel 32800 yuan/ton; ￥ 65-130 round steel costs 32800 yuan/ton. S32760 (F55) material ? 65-130 round steel 37500 yuan/ton.
4) 316L ? 65-130 round steel at 25500 yuan/ton; 316Ti ? 65-130 round steel 28500 yuan/ton; National standard 316L ? 65-130 round steel costs 32300 yuan/ton; German standard 316 material ? 65-130 round steel 29000 yuan/ton; 317L ? 65-130 round steel, priced at 35200 yuan/ton;
5) 18200 yuan/ton for 321H material ? 65-130; 21200 yuan/ton for 347H material ? 65-130;
6) NO8810 ? 200-250 round steel, priced at 65000 yuan/ton; ? 65-130 yuan/ton for round steel.
7) NO7718 ? 200-250 round steel costs 165000 yuan/ton; 165000 yuan/ton for round steel of ? 65-130;
8) NO8028 ? 200-250 round steel costs 87000 yuan/ton, ? 65-130 round steel costs 88000 yuan/ton;
9) NO8120 ? 200-250 round steel costs 84000 yuan/ton, ? 65-130 round steel costs 85000 yuan/ton;
10) 630 material (17-4) ? 150-300 round steel 15800 yuan/ton, ? 65-130 round steel 15800 yuan/ton; 631 material (17-7) ? 65-130 round steel 17800 yuan/ton; 632 material (15-7Mo) ? 65-130 round steel 28500 yuan/ton;
11) 195000 yuan/ton for NO6625 material ? 200-250; ? 65-130 round steel, 197000 yuan/ton;
12) 120000 yuan/ton for NO6601 material ? 200-250; 122000 yuan/ton for ? 65-130.
13) 140000 yuan/ton for NO6600 material ? 200-250; 142000 yuan/ton for ? 65-130.
14) 217000 yuan/ton for NO10276 ? 200-250; ? 65-130 round steel, 218000 yuan/ton;
15) XM-19 ? 65-130 round steel at 34000 yuan/ton;
16) S31254 material ? 65-130 round steel 62500 yuan/ton.
17) 904L material ? 65-130 round steel 61000 yuan/ton.
18) NO8926/1.4529 material: ? 200-250 round steel, 88000 yuan/ton, ? 65-130 round steel, 70000 yuan/ton,;
19) NO8825 material ? 200-250 round steel 95000 yuan/ton, ? 65-130 round steel 96000 yuan/ton;
20) XM-19 material ? 65-130 round steel costs 36500 yuan/ton, and 15-5PH (XM-12) material ? 65-130 round steel costs 17800 yuan/ton.
21) 159000 yuan/ton for NO3030 material ? 200-250; ￥ 65-130 round steel costs 161000 yuan/ton.
155000 yuan/ton for NO4400 material ? 200-250;
22) 148000 yuan/ton for NO4400 material ? 200-250; ￥ 65-130 round steel costs 150000 yuan/ton.
23) 1.4460 material ? 65-130 round steel costs 22800 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 -25.9 yuan/kg;
Stainless steel seamless pipe S31603 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -39.3 yuan/kg;
Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -30.2 yuan/kg;
Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -20 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid washed and weighed for delivery -33 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 June 20, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1133876 tons, a decrease of 16467 tons or 1.43% from last week. Among them:
The total inventory of cold-rolled stainless steel is 726947 tons, an increase of 2362 tons or 0.33% compared to last week;
The total inventory of hot-rolled stainless steel is 406929 tons, a decrease of 18829 tons or 4.42% compared to last week;
The total inventory of the 200 series is 218935 tons, a decrease of 3186 tons or 1.43% compared to last week;
The total inventory of the 300 series is 726555 tons, a decrease of 5138 tons or 0.70% compared to last week;
The total inventory of the 400 series is 188386 tons, a decrease of 8143 tons or 4.14% compared to last week.
Wuxis inventory is 681808 tons, an increase of 8350 tons or 1.24% compared to last week;
Foshans inventory is 338506 tons, a decrease of 10243 tons or 2.94% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have 118796 tons of inventory, a decrease of 9340 tons or 7.29% compared to last week.
5、 Market analysis
1. Molybdenum Fundamental Analysis
On June 20th, domestic molybdenum prices fluctuated, and downstream terminal procurement pace was slow.
2. The Indonesian Ministry of Energy and Mines is considering terminating some nickel iron production certificates
An official from the Indonesian Ministry of Mines stated on Tuesday that the Indonesian government is conducting a comprehensive evaluation of the termination of licenses for RKEF smelters, which produce nickel iron and water quenched nickel.
Irwandy Arif, a senior official at the Indonesian Ministry of Energy and Mineral Resources, said that the Indonesian government is focusing on developing high-pressure acid leaching (HPAL) smelters and nickel matte production smelters. High pressure acid leaching (HPAL) smelters extract nickel and cobalt from laterite ore bodies to produce mixed hydroxide precipitates (a precursor material for the battery industry).
It is currently unclear whether the possible termination applies to existing licenses. Irwandy once stated at a conference that without further exploration, over 1.5% of ore reserves are expected to continue until 2029. Indonesia was once a major exporter of nickel ore, but in order to attract domestic investment, the country banned the transportation of unprocessed nickel in 2020. The Indonesian Nickel Miners Association (APNI) has also urged the government to suspend the construction of new pyrometallurgical smelters to extend the mining life of high-grade reserves. 1.7% of high-grade nickel ore in Indonesia is mainly used to produce nickel pig iron, which is a raw material for stainless steel. Electric vehicle batteries use lower grade nickel..
3. Fundamental analysis of stainless steel
The current inventory pressure of stainless steel is relatively high, with high supply and weak demand. 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.
According to data from China Customs, in May 2024, the domestic stainless steel export volume was approximately 457700 tons (a new high since July 2022), an increase of 65000 tons or 16.6% compared to the previous month; An increase of 105600 tons year-on-year, with a growth rate of 30%. From January to May 2024, the cumulative export volume of domestic stainless steel was about 1.912 million tons, an increase of 216500 tons year-on-year, with a growth rate of 12.8%.
In May, domestic stainless steel exports increased significantly, and the volume of exports to many places has increased. Among them, the volume of exports to Türkiye, Cambodia and Taiwan, China increased significantly month on month, with an increase of 14500 tons, 14000 tons and 12300 tons, 38.9%, 157% and 55.3%.

Zhejiang Benji Stainless Steel Co., Ltd.,