The production profit of steel mills is inverted, and there is heavy upward pressure on stainless steel-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On September 18th, the closing price of nickel in London was $16233, up $45 or 0.28%; The latest continuous price of Shanghai nickel is 124500 yuan, up 210 yuan, or 0.17%; Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) 8700 yuan/50 basis tons. Luoyang molybdenum iron is 238000 yuan/ton.
2. The latest continuous price of stainless steel is 13370 yuan, an increase of 35 yuan or 0.26%; The holding volume is 161146 lots and the trading volume is 33460 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 9950 yuan/ton, and 304 new pipe head edge material costs 9850 yuan/ton.
2) 316 new pipe head corner material, first grade white material (small punch plate, laser material, round steel, edge wire) 18300-18500 yuan/ton.
3) 2205 whiteboard, thick tube, round steel 18200 yuan/ton, 2507 whiteboard, thick tube, round steel 22000 yuan/ton, 2520 white material, tube plate, round steel 24000 yuan/ton.
2、 Wuxi stainless steel coil reference price
1. Taiyuan Iron and Steel Hot Rolling Guide Price:
300 hot rolling series: 15100 yuan/ton for 304/NO. 1; 15900 yuan/ton for 321/NO.1; 25700 yuan/ton for 316L/NO.1.
Medium plate (trimmed, thickness: 14-20mm, width: 1500mm) made of 304 material -16800 yuan/ton, 321 material: 19100 yuan/ton, 316L material: 28800 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material: 13200 yuan/ton for 4-12mm, 13400 yuan/ton for 14mm; 13600 yuan/ton for 16mm;
S31603 material 4-12mm costs 24200 yuan/ton, 14mm costs 24500 yuan/ton; 16mm at 24700 yuan/ton;
310S hot-rolled flat plate 3 and 4mm costs 34400 yuan/ton, 5-10mm costs 33600 yuan/ton, 12mm costs 33900 yuan/ton, and 14mm costs 34900 yuan/ton.
2205 hot rolling 25600 yuan/ton
3. Qingshan Hot Rolling: 304 material costs 12900 yuan/ton; Dingxin 310S material is priced at 33700 yuan/ton for 3mm, 33800 yuan/ton for 4mm, and 33600 yuan/ton for 5-10mm.
4. Zhangpu guide price: 13300 yuan/ton for 304 material, 16200 yuan/ton for 321 hot rolling; 316L hot rolling costs 24500 yuan/ton.
3、 Reference price for stainless steel tube and rod
1. The August price of Qingshan round steel is between 65-130 yuan. S30400 material costs 13000 yuan/ton, 316L material costs 23600 yuan/ton, TP321 material costs 15800 yuan/ton, 321 material costs 14600 yuan/ton, S22053 material costs 24100 yuan/ton, and 310S material costs 32700 yuan/ton.
2. 【 Zhejiang Friendship New Material Continuous Casting Billet 】 The price of 304 material is 13000 yuan/ton for ￠ 160-260 and 13100 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 costs 24000 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 24600 yuan/ton; 65-130 round steel 24800 yuan/ton;
2) 33300 yuan/ton for 310S material ￠ 150-300, 33500 yuan/ton for ￠ 65-130; 26500 yuan/ton for 309S material ￠ 65-130;
3) S32750 (F53) material ￠ 150-300 round steel 30800 yuan/ton; 65-130 round steel costs 34500 yuan/ton. S32760 (F55) material ￠ 65-130 round steel 39000 yuan/ton.
4) 316L ￠ 65-130 round steel at 25200 yuan/ton; 316Ti ￠ 65-130 round steel 27700 yuan/ton; National standard 316L ￠ 65-130 round steel 30500 yuan/ton; German standard 316 material ￠ 65-130 round steel 28000 yuan/ton; 317L ￠ 65-130 round steel 36000 yuan/ton;
5) 17800 yuan/ton for 321H material ￠ 65-130; 19700 yuan/ton for 347H material ￠ 65-130;
6) NO7718 ￠ 200-250 round steel 153000 yuan/ton; Round steel of 65-130 yuan/ton, priced at 156000 yuan/ton;
7) NO8810 ￠ 200-250 round steel 61000 yuan/ton; 65-130 round steel priced at 63000 yuan/ton.
8) NO8926/1.4529 Material: 84000 yuan/ton for ￠ 200-250 round steel, 73000 yuan/ton for ￠ 65-130 round steel,;
9) NO8825 material: ￠ 200-250 round steel 88000 yuan/ton, ￠ 65-130 round steel 90000 yuan/ton;
10) NO8028 ￠ 200-250 round steel costs 80000 yuan/ton, and ￠ 65-130 round steel costs 82000 yuan/ton;
11) NO8120 ￠ 200-250 round steel costs 77000 yuan/ton, and ￠ 65-130 round steel costs 79000 yuan/ton;
12) 630 material (17-4) ￠ 150-300 round steel at 15800 yuan/ton, ￠ 65-130 round steel at 16000 yuan/ton; 631 material (17-7) ￠￠ 65-130 round steel 18600 yuan/ton; 632 material (15-7Mo) ￠￠ 65-130 round steel 29300 yuan/ton;
13) 182000 yuan/ton for NO6625 material ￠ 200-250; ￠ 65-130 round steel 185000 yuan/ton;
14) 111000 yuan/ton for NO6601 material ￠ 200-250; 114000 yuan/ton for ￠ 65-130.
15) 129000 yuan/ton for NO6600 material ￠ 200-250; 131000 yuan/ton for ￠ 65-130.
16) 204000 yuan/ton for NO10276 ￠ 200-250; 65-130 round steel 208000 yuan/ton;
17) XM-19 ￠ 65-130 round steel at 33700 yuan/ton;
18) S31254 material ￠ 65-130 round steel 61000 yuan/ton.
19) 904L material ￠ 65-130 round steel, priced at 61500 yuan/ton.
20) XM-19 material ￠ 65-130 round steel costs 34300 yuan/ton, 15-5PH (XM-12) material ￠ 65-130 round steel costs 18300 yuan/ton.
21) NO3030 material ￠ 200-250 costs 150000 yuan/ton; 65-130 round steel costs 152000 yuan/ton.
155000 yuan/ton for NO4400 material ￠ 200-250;
22) 137000 yuan/ton for NO4400 material ￠ 200-250; 65-130 round steel costs 140000 yuan/ton.
23) 1.4460 material ￠ 65-130 round steel 23500 yuan/ton.
24) Wuxi Puheng forged round 304L material costs 15200 yuan/ton for ￠ 140-250 and 15900 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 -26.2 yuan/kg;
Stainless steel seamless tube S31603 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -39.3 yuan/kg;
Stainless steel seamless tube S32168 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -30.5 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 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 September 12, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1024388 tons, a decrease of 37649 tons or 3.54% compared to last week. Among them:
The total inventory of cold-rolled stainless steel is 667146 tons, a decrease of 28852 tons or 4.15% compared to last week;
The total inventory of hot-rolled stainless steel is 357242 tons, a decrease of 8797 tons or 2.40% compared to last week;
The total inventory of 200 series is 204905 tons, a decrease of 10613 tons or 4.92% compared to last week;
The total inventory of 300 series is 652099 tons, a decrease of 21970 tons or 3.26% compared to last week;
The total inventory of 400 series is 167384 tons, a decrease of 5066 tons or 2.94% compared to last week.
Wuxi inventory is 602823 tons, a decrease of 18807 tons or 3.03% compared to last week;
Foshan inventory is 322725 tons, a decrease of 12192 tons or 3.84% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have inventory of 98840 tons, a decrease of 6650 tons or 6.30% compared to last week.
5、 Market analysis
Nickel iron: On the supply side, the Indonesian nickel iron production line continues to be built, and the newly built production lines are gradually reaching production capacity. However, there is still a risk of impact on the domestic market from the return of Indonesian nickel iron to the domestic market. On the demand side, there is insufficient terminal demand, and the spot price of stainless steel continues to decline. Under the pressure of production and consumption, steel mills will increase their efforts to suppress the price of raw materials. At present, the price difference between supply and demand continues to widen, and the market is in a stalemate.
Chromium iron: On the 18th, the chromium iron market continued to maintain a weak and stable trend. Although low-priced goods continue to circulate in the market, breaking through the lower limit of the market, the quantity is small and the quality varies. Despite the high pressure of raw material costs, the factory is still close to the loss line and has reduced room for concessions. The willingness to raise prices is strong. Recently, a high carbon ferrochrome factory in Inner Mongolia sold at a price of 8500 yuan/50 basis tons, with a transaction volume of 1500 tons.
Molybdenum iron: The mainstream molybdenum iron quotation ranges from 237000 to 2.439 million yuan/ton (cash acceptance), with stable operation.
Stainless steel: During the traditional peak consumption season on the supply side, steel mills still maintain high production schedules. Although raw material costs remain firm and steel mills production profits are inverted, it is still expected to increase production slightly; The performance of the construction industry on the supply side is sluggish, with insufficient demand and a situation of oversupply still prominent. It is expected that stainless steel will face heavy upward pressure and perform poorly in the future market.
The stainless steel market in 2024 has been severely oversold for a long time, and objectively observed, it has already fallen and there is no room for further decline. Although the market atmosphere remains sluggish, it cannot be ruled out that it will soar to the sky at some point. Gold September and silver October are traditional customs, and half of September 2024 has already passed, and the stainless steel market is still not returning. Will it fall again?

Zhejiang Benji Stainless Steel Co., Ltd.,