The demand for stainless steel in the real estate sector is expected to further decline, and buyers are cautious about purchasing molybdenum iron-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On July 19th, London nickel closed at $16220, down $36, or 0.22%; The latest price of Shanghai nickel 2409 is 128310 yuan, a decrease of 2460 yuan, a decrease of 1.88%; Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) costs 9000 yuan/50 basis tons. Luoyang molybdenum iron is 238500 yuan/ton, down 500 yuan.
2. The latest price of stainless steel SS2409 is 13790 yuan, an increase of 30 US dollars or 0.22%; The holding volume is 163376 lots and the trading volume is 52488 lots.
3. Fujian Qingtuo Yongchang Freight Yard Waste Stainless Steel Purchase Price:
1) 304 first grade white material (small punch plate, laser material, round steel, edge wire) costs 10000-10100 yuan/ton, and 304 new pipe head edge material costs 9900 yuan/ton.
2) 316 new pipe head corner material costs 18600 yuan/ton, and 316 first grade white material (small punch plate, laser material, round steel, edge wire) costs 18700-18800 yuan/ton.
3) 2205 whiteboard, thick tube, round steel 18700 yuan/ton, 2507 whiteboard, thick tube, round steel 22000 yuan/ton, 2520 white material, tube plate, round steel to be collected.
2、 Wuxi stainless steel coil reference price
1. Taiyuan Iron and Steel Hot Rolling Guide Price:
300 hot rolling series: 15300 yuan/ton for 304/NO.1; 16200 yuan/ton for 321/NO.1; 26100 yuan/ton for 316L/NO.1.
Medium plate (trimmed, thickness: 14-20mm, width: 1500mm) made of 304 material -16900 yuan/ton, 321 material: 19300 yuan/ton, 316L material: 28800 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material: 13500 yuan/ton for 4-12mm, 13700 yuan/ton for 14mm; 13900 yuan/ton for 16mm;
S31603 material: 24800 yuan/ton for 4-12mm, 25100 yuan/ton for 14mm; 25300 yuan/ton for 16mm;
310S hot-rolled flat plate 3 and 4mm costs 35700 yuan/ton, 5-10mm costs 34900 yuan/ton, 12mm costs 35100 yuan/ton, and 14mm costs 36100 yuan/ton.
2205 hot rolling 25900 yuan/ton
3. Qingshan Hot Rolling: 304 material 13300 yuan/ton; Dingxin 310S material is priced at 35000 yuan/ton for 3mm, 35100 yuan/ton for 4mm, and 34900 yuan/ton for 5-10mm.
4. Zhangpu guide price: 13600 yuan/ton for 304 material, 16300 yuan/ton for 321 hot rolling; 316L hot rolling costs 25100 yuan/ton.
3、 Reference price for stainless steel tube and rod
1. The June price of Qingshan round steel is between 65-130 yuan. S30400 material costs 13200 yuan/ton, 316L material costs 23800 yuan/ton, TP321 material costs 16000 yuan/ton, 321 material costs 14800 yuan/ton, S22053 material costs 24400 yuan/ton, and 310S material costs 33200 yuan/ton.
2. 【 Zhejiang Friendship New Material Continuous Casting Billet 】 The price of 304 material is 12900 yuan/ton for ￠ 160-260 and 13000 yuan/ton for ￠ 300-360. 23100 yuan/ton for 316L material ￠ 160-260, sealed plate, 23200 yuan/ton for ￠ 300-360, sealed plate. 2205 material ￠ 160-260, priced at 24200 yuan/ton. 29800 yuan/ton for 2507 material ￠ 160-260.
3. 【 Yongxing Bar Material ￠ 65-130 】 304 material costs 16000 yuan/ton, TP321 material costs 18500 yuan/ton, 316L material costs 27800 yuan/ton, 316LGB material costs 30800 yuan/ton, and S22053 material costs 29300 yuan/ton.
4. 【 Fukai Market Price 】:
1) 2205 (F60) material ￠ 150-300 round steel, priced at 24300 yuan/ton; 65-130 round steel 24800 yuan/ton;
2) 33700 yuan/ton for 310S material ￠ 150-300 and 33700 yuan/ton for ￠ 65-130; 27300 yuan/ton for 309S material ￠ 65-130;
3) S32750 (F53) material ￠ 150-300 round steel 30200 yuan/ton; 65-130 round steel costs 32800 yuan/ton. S32760 (F55) material ￠ 65-130 round steel 37000 yuan/ton.
4) 316L ￠ 65-130 round steel at 25200 yuan/ton; 316Ti ￠ 65-130 round steel 28300 yuan/ton; National standard 316L ￠ 65-130 round steel 32000 yuan/ton; German standard 316 material ￠ 65-130 round steel 28000 yuan/ton; 317L ￠ 65-130 round steel 34000 yuan/ton;
5) 18000 yuan/ton for 321H material ￠ 65-130; 20000 yuan/ton for 347H material ￠ 65-130;
6) NO7718 ￠ 200-250 round steel priced at 164000 yuan/ton; 65-130 round steel 165000 yuan/ton;
7) NO8810 ￠ 200-250 round steel 66000 yuan/ton; 65-130 round steel costs 66000 yuan/ton.
8) NO8926/1.4529 Material: 86000 yuan/ton for ￠ 200-250 round steel, 69500 yuan/ton for ￠ 65-130 round steel,;
9) NO8825 material ￠ 200-250 round steel 96000 yuan/ton, ￠ 65-130 round steel 97000 yuan/ton;
10) NO8028 ￠ 200-250 round steel 86000 yuan/ton, ￠ 65-130 round steel 88000 yuan/ton;
11) NO8120 ￠ 200-250 round steel 83000 yuan/ton, ￠ 65-130 round steel 84500 yuan/ton;
12) 630 material (17-4) ￠ 150-300 round steel 15700 yuan/ton, ￠ 65-130 round steel 16000 yuan/ton; 631 material (17-7) ￠￠ 65-130 round steel 17500 yuan/ton; 632 material (15-7Mo) ￠￠ 65-130 round steel, priced at 28500 yuan/ton;
13) 192000 yuan/ton for NO6625 material ￠ 200-250; 65-130 round steel 193000 yuan/ton;
14) 119000 yuan/ton for NO6601 material ￠ 200-250; 120000 yuan/ton for ￠ 65-130.
15) 139000 yuan/ton for NO6600 material ￠ 200-250; 138000 yuan/ton for ￠ 65-130.
16) 215000 yuan/ton for NO10276 ￠ 200-250; 65-130 round steel at 216000 yuan/ton;
17) XM-19 ￠ 65-130 round steel 34000 yuan/ton;
18) S31254 material ￠ 65-130 round steel, priced at 61500 yuan/ton.
19) 904L material ￠ 65-130 round steel 62500 yuan/ton.
20) XM-19 material ￠ 65-130 round steel costs 33500 yuan/ton, while 15-5PH (XM-12) material ￠ 65-130 round steel costs 18000 yuan/ton.
21) 156000 yuan/ton for NO3030 material ￠ 200-250; 65-130 round steel costs 158000 yuan/ton.
155000 yuan/ton for NO4400 material ￠ 200-250;
22) 146000 yuan/ton for NO4400 material ￠ 200-250; 65-130 round steel costs 148000 yuan/ton.
23) 1.4460 material ￠ 65-130 round steel 22800 yuan/ton.
24) Wuxi Puheng forged round 304L material costs 14800 yuan/ton for ￠ 140-250 and 15500 yuan/ton for ￠ 260-400; 316L material costs 25500 yuan/ton for sizes 140-250 and 25700 yuan/ton for sizes 260-400.
5. Zhejiang Benji Pipe Reference Price
Stainless steel seamless tube 30408 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -26.1 yuan/kg;
Stainless steel seamless tube S31603 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -39.6 yuan/kg;
Stainless steel seamless tube S32168 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -30.4 yuan/kg;
Stainless steel welded pipe made of 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 weighing delivery -33.2 yuan/kg;
Stainless steel welded pipe 32168 material, specification 219-813 * 4-6 acid washed weighing delivery -25.9 yuan/kg.
4、 Statistical data:
According to Mysteel research:
On July 18, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1108732 tons, an increase of 21050 tons or 1.94% compared to the previous week. Among them:
The total inventory of cold-rolled stainless steel was 738059 tons, an increase of 14795 tons or 2.05% compared to last week;
The total inventory of hot-rolled stainless steel was 370673 tons, an increase of 6255 tons or 1.72% compared to last week;
The total inventory of the 200 series is 203831 tons, an increase of 376 tons or 0.18% compared to last week;
The total inventory of 300 series is 725710 tons, an increase of 17791 tons or 2.51% compared to last week;
The total inventory of 400 series is 179191 tons, an increase of 2883 tons or 1.64% compared to last week.
Wuxi inventory is 679722 tons, an increase of 11515 tons or 1.72% compared to last week;
Foshan inventory is 317424 tons, an increase of 11017 tons or 3.60% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have inventory of 111586 tons, a decrease of 1482 tons or 1.31% compared to last week.
5、 Market analysis
1. Fundamental analysis of molybdenum
Oversupply drives down prices: Due to low demand for molybdenum iron in the domestic market, inquiries have decreased. Therefore, in the case of oversupply, the market becomes too saturated. Therefore, most sellers adopt a price reduction strategy to ensure limited profits. They must also ensure that they have sufficient working capital to sustain their operations. In addition, the stainless steel market is under pressure, nickel prices are falling, and buyers are cautious about purchasing ferromolybdenum, which has a negative impact on demand. Some manufacturers have stated that the current price of molybdenum iron in the international market is about 32311 US dollars per ton, but due to lower demand in India, the price has already dropped.
Global price pattern: The price of Chinese molybdenum iron (Mo: 60%) has increased by 1000 yuan/ton (138 US dollars/ton) month on month, and the ex factory price in Inner Mongolia is 239500 yuan/ton (33014 US dollars/ton). Steel mills in Zhejiang, Liaoning, Anhui, and Hunan all purchase raw materials in the market. However, influenced by international prices and the exchange rate between the US dollar and the Chinese yuan, coupled with low steel prices and complex global economic conditions, the market is cautious about future trends.
Outlook: Due to the changing market conditions and recent price changes, it is expected that the market will maintain its current operation in the short term.
2. Fundamental analysis of stainless steel
The contraction of stainless steel supply is not significant. Due to the sustained low price of stainless steel and the continuous decrease in profits of the 300 series, some steel mills have begun to adjust their production pace and overall production plans.
The overall production of stainless steel crude steel in the second quarter performed well, with an increase of 1.1121 million tons or 16.93% compared to the first quarter. However, data shows that the production of 300 series stainless steel in the second quarter accounted for only 52.79%, a decrease of 2.69 percentage points from the first quarter. The production adjustment plan has triggered market wait-and-see, and businesses have concerns about nickel demand. In the second half of 2024, with the sluggish growth rate of real estate completion, the demand for stainless steel in the real estate sector is expected to further decline. Downstream replenishment operations are cautious, with market shipments mainly focused on essential purchases, and stainless steel inventory continues to increase, leading to increased pressure to reduce inventory.
Overall, downstream demand for stainless steel remains weak, the macroeconomic situation is not good, and there is a strong wait-and-see sentiment in the market. In the short term, stainless steel prices may operate weakly and steadily.

Zhejiang Benji Stainless Steel Co., Ltd.,