Policy gift packages boost stainless steel, but the pattern of strong supply and weak demand remains-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On September 29th, London nickel was priced at $17035, up $39, or 0.23%; The latest continuous price of Shanghai nickel is 130680 yuan, an increase of 1940 yuan, an increase of 1.51%; Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) 8600 yuan/50 basis tons. Luoyang molybdenum iron costs 236500 yuan/ton.
2. The latest price of stainless steel 2412 is 13675 yuan, an increase of 205 yuan, or 1.52%; The holding volume is 109119 lots and the trading volume is 37591 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 9900 yuan/ton, and 304 new pipe head edge material costs 9800 yuan/ton.
2) 316 new pipe head corner material, first grade white material (small punch plate, laser material, round steel, edge wire) 18100-18300 yuan/ton.
3) 2205 whiteboard, thick tube, round steel 18000 yuan/ton, 2507 whiteboard, thick tube, round steel 22200 yuan/ton, 2520 white material, tube plate, round steel 23800 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 -16700 yuan/ton, 321 material -19100 yuan/ton, 316L material -28600 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material 4-12mm costs 13100 yuan/ton, 14mm costs 13300 yuan/ton; 13500 yuan/ton for 16mm;
S31603 material 4-12mm costs 24000 yuan/ton, 14mm costs 24300 yuan/ton; 16mm at 24500 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 13000 yuan/ton; Dingxin 310S material is priced at 33200 yuan/ton for 3mm, 33300 yuan/ton for 4mm, and 33100 yuan/ton for 5-10mm.
4. Zhangpu guide price: 13200 yuan/ton for 304 material, 16000 yuan/ton for 321 hot rolling; 316L hot rolling costs 24100 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; 26100 yuan/ton for 309S material ￠ 65-130;
3) S32750 (F53) material ￠ 150-300 round steel 30800 yuan/ton; 65-130 round steel costs 34000 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 28000 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 35500 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 154000 yuan/ton; 65-130 round steel 157000 yuan/ton;
7) NO8810 ￠ 200-250 round steel 62000 yuan/ton; 65-130 round steel costs 64000 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 91000 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 184000 yuan/ton;
14) 112000 yuan/ton for NO6601 material ￠ 200-250; 115000 yuan/ton for ￠ 65-130.
15) 130000 yuan/ton for NO6600 material ￠ 200-250; 132000 yuan/ton for ￠ 65-130.
16) 205000 yuan/ton for NO10276 ￠ 200-250; ￠ 65-130 round steel 211000 yuan/ton;
17) XM-19 ￠ 65-130 round steel, priced at 34300 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 26, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1014982 tons, a decrease of 16342 tons or 1.58% compared to last week. Among them:
The total inventory of cold-rolled stainless steel is 659564 tons, a decrease of 13474 tons or 2.00% compared to last week;
The total inventory of hot-rolled stainless steel is 355418 tons, a decrease of 2868 tons or 0.80% compared to last week;
The total inventory of the 200 series was 199864 tons, an increase of 724 tons or 0.36% compared to last week;
The total inventory of 300 series is 643514 tons, a decrease of 12807 tons or 1.95% compared to last week;
The total inventory of 400 series is 171604 tons, a decrease of 4259 tons or 2.42% compared to last week.
Wuxi inventory is 591808 tons, a decrease of 9531 tons or 1.58% compared to last week;
Foshan inventory is 317924 tons, a decrease of 11021 tons or 3.35% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have inventory of 105250 tons, an increase of 4210 tons or 4.17% compared to last week.
5、 Market analysis
After the Federal Reserve cut interest rates by 50 basis points, on September 27th, the Peoples Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio for financial institutions. With the continuous release of domestic policy "gift packages", market sentiment was further encouraged, and A-shares surged. Optimistic sentiment boosted the commodity market, and the non-ferrous metal sector rebounded overall, with nickel prices rising along with the non-ferrous sector. With the narrowing of differences in monetary policy cycles, the stability of the RMB exchange rate, and the reduction of external pressure. On September 23rd, the exchange rate of the Chinese yuan against the US dollar was about 7.05 yuan, an appreciation of 2.4% since August.
Nickel iron: With the National Day holiday approaching, the price of nickel iron has stabilized after being affected by pressure from the upstream and downstream of the industry chain. The latest market transactions have landed at 978 yuan/nickel (factory tax included) and 990-995 yuan/nickel (factory tax included). The bargaining range for nickel iron has shifted downwards.
Ferrochromium: The chromium market transactions are weak, and the boost from gold, silver, and silver is relatively limited. In addition, due to long-term oversupply, recently, Qingshan Groups long-term purchase price for high carbon ferrochrome in October 2024 was 8295 yuan/50 basis (cash including tax at the factory price), a decrease of 400 yuan compared to the previous month.
Molybdenum iron: The domestic price of molybdenum iron has decreased, with a factory price of 238000 yuan/ton in Inner Mongolia.
Stainless steel: Stimulated by multiple heavyweight policies such as domestic reserve requirement ratio cuts and interest rate cuts, the stainless steel market sentiment has been boosted. Meanwhile, in recent times, due to the loosening of raw material prices and the downward shift in stainless steel cost support, production pressure has weakened. However, the overall stainless steel market is still constrained by a pattern of strong supply and weak demand, and favorable stimulus policies are yet to be implemented in the medium to long term. It is expected that the rebound will be limited, and the market will continue to pay attention to the reduction of production by steel mills and changes in Indonesian nickel ore supply in the future.

Zhejiang Benji Stainless Steel Co., Ltd.,