Philippines bans mining, Indonesia limits prices to boost raw material prices, Qingshan raises bar prices across the board-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report: 1. Nickel: On March 5th, the closing price of nickel in London was $15901, down $82, or 0.51%; The latest price of Shanghai Nickel 2505 is 127620 yuan, a decrease of 500 yuan or 0.39%; Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) costs 7800 yuan/50 basis tons. Luoyang molybdenum iron is 223400 yuan/ton, down 500 yuan. 2. The latest price of stainless steel 2505 is 13265 yuan, an increase of 15 yuan or 0.11%; The open position is 156044 lots and the trading volume is 73195 lots. 3. Fujian Qingtuo Renewable Resources Yongchang Freight Yard Waste Stainless Steel Purchase Price (yuan/ton): 1) 304 new material, laser plate: 10000304 new punching plate, thick plate tube: 9800304 industrial material, plate tube 9500304 oil punch core 9000-9200; 2) 316 new material, laser plate 17900316 industrial material, plate tube 17500; 3) 2205 old material 16700, 5 new material 17600; 2507 old material 19000, new material 20700; 2520 old material 20500, new material 23300. Delivery location: A113, 15th Road, Binhai 1st Road, Longwan District, Wenzhou City (including tax invoice, additional tax point) 2、 Wuxi stainless steel coil reference price 1. Taiyuan Iron and Steel Hot Rolling Guide Price: 300 hot rolling series: 14900 yuan/ton for 304/NO. 1; 15500 yuan/ton for 321/NO.1; 24800 yuan/ton for 316L/NO.1. Medium plate (trimmed, thickness: 14-20mm, width: 1500mm) made of 304 material -16800 yuan/ton, 321 material: 19000 yuan/ton, 316L material: 28300 yuan/ton. 2. Dongte Hot Rolling Guide Price: S30408 material costs 12900 yuan/ton for 4-12mm and 12900 yuan/ton for 14mm; 12900 yuan/ton for 16mm; S31603 material costs 23200 yuan/ton for 4-12mm and 23200 yuan/ton for 14mm; 23200 yuan/ton for 16mm; 310S hot-rolled flat plate 3 and 4mm costs 32600 yuan/ton, 5-10mm costs 31800 yuan/ton, 12mm costs 32100 yuan/ton, and 14mm costs 33100 yuan/ton. 2205 hot rolling 24500 yuan/ton 3. Qingshan Hot Rolling: 304 material priced at 12750 yuan/ton; Dingxin 310S material is priced at 31800 yuan/ton for 3mm, 31900 yuan/ton for 4mm, and 31700 yuan/ton for 5-10mm. 4. Zhangpu guide price: 13000 yuan/ton for 304 material, 15800 yuan/ton for 321 hot rolling; 316L hot rolling costs 23500 yuan/ton. 3、 Reference price for stainless steel tube and rod 1. The March price of Qingshan round steel is between 65-130 yuan. S30400 material costs 12730 yuan/ton, 316L material costs 22600 yuan/ton, TP321 material costs 15530 yuan/ton, 321 material costs 14330 yuan/ton, S22053 material costs 23130 yuan/ton, and 310S material costs 31580 yuan/ton. 2. Zhejiang Friendship New Material Continuous Casting Billet 1) 16800 yuan/ton for 347H material ￠ 160-360; 2) 22800 yuan/ton for 2205 material ￠ 160-360, 23400 yuan/ton for ￠ 65-105; 3) 28200 yuan/ton for 2507 material ￠ 160-360, 30000 yuan/ton for ￠ 65-105; 4) 32760 material ￠ 160-360 yuan/ton 5) 310S material costs 31200 yuan/ton for ￠ 160-360 and 31300 yuan/ton for ￠ 65-130. 6) 904L material ￠ 160-360 is priced at 57100 yuan/ton. 3. 【 Yongxing Bar Material ￠ 65-130 】 304 material costs 15500 yuan/ton, TP321 material costs 17900 yuan/ton, 316L material costs 26800 yuan/ton, 316LGB material costs 29600 yuan/ton, and S22053 material costs 28300 yuan/ton. 4. 【 Fukai Market Price 】: 1) 2205 (F60) material ￠ 150-300 round steel 24600 yuan/ton (negotiable); 65-130 round steel 24800 yuan/ton (negotiable); 2) 32000 yuan/ton for 310S material ￠ 150-300, 32500 yuan/ton for ￠ 65-130; 26000 yuan/ton for 309S material ￠ 65-130; 3) S32750 (F53) material ￠ 150-300 round steel 30500 yuan/ton; 65-130 round steel costs 33500 yuan/ton. S32760 (F55) material ￠ 65-130 round steel 37000 yuan/ton. 4) 316L ￠ 65-130 round steel at 25200 yuan/ton (negotiable); 316Ti ￠ 65-130 round steel 28100 yuan/ton; National standard 316L ￠ 65-130 round steel 31500 yuan/ton; German standard 316 material ￠ 65-130 round steel 28700 yuan/ton; 317L ￠ 65-130 round steel 34700 yuan/ton; 5) 18000 yuan/ton for 321H material ￠ 65-130; 20200 yuan/ton for 347H material ￠ 65-130; 6) NO7718 ￠ 200-250 round steel priced at 179000 yuan/ton; ￠ 65-130 round steel 180000 yuan/ton; 7) NO8810 ￠ 200-250 round steel at 69500 yuan/ton; 65-130 round steel at 71500 yuan/ton. 8) NO8926/1.4529 Material: ￠ 200-250 round steel 90000 yuan/ton, ￠ 65-130 round steel 78000 yuan/ton,; 9) NO8825 material: ￠ 200-250 round steel 97000 yuan/ton, ￠ 65-130 round steel 100000 yuan/ton; 10) NO8028 ￠ 200-250 round steel costs 88000 yuan/ton, and ￠ 65-130 round steel costs 89000 yuan/ton; 11) NO8120 ￠ 200-250 round steel 87000 yuan/ton, ￠ 65-130 round steel 87000 yuan/ton; 12) 630 material (17-4) ￠ 150-300 round steel 15900 yuan/ton, ￠ 65-130 round steel 15900 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) 193000 yuan/ton for NO6625 material ￠ 200-250; 65-130 round steel 195000 yuan/ton; 14) 120000 yuan/ton for NO6601 material ￠ 200-250; 122000 yuan/ton for ￠ 65-130. 15) 139000 yuan/ton for NO6600 material ￠ 200-250; 141000 yuan/ton for ￠ 65-130. 16) 210000 yuan/ton for NO10276 ￠ 200-250; 65-130 round steel 213000 yuan/ton; 17) XM-19 ￠ 65-130 round steel, priced at 34300 yuan/ton; 18) S31254 material ￠ 65-130 round steel 62000 yuan/ton. 19) 904L material ￠ 65-130 round steel 62500 yuan/ton. 20) XM-19 material ￠ 65-130 round steel costs 34800 yuan/ton, 15-5PH (XM-12) material ￠ 65-130 round steel costs 18300 yuan/ton. 21) 158000 yuan/ton for NO3030 material ￠ 200-250; Round steel of ￠ 65-130 is priced at 160000 yuan/ton. 155000 yuan/ton for NO4400 material ￠ 200-250; 22) NO4400 material ￠ 200-250, priced at 148000 yuan/ton; 65-130 round steel costs 150000 yuan/ton. 23) 1.4460 material ￠ 65-130 round steel 23500 yuan/ton. 24) Wuxi Puheng forged round 304L material costs 14200 yuan/ton for ￠ 140-250 and 15500 yuan/ton for ￠ 260-400; 316L material costs 24700 yuan/ton for sizes 140-250 and 24900 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 -25.2 yuan/kg; Stainless steel seamless tube S31603 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -37.7 yuan/kg; Stainless steel seamless tube S32168 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -29.3 yuan/kg; Stainless steel welded pipe made of 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -19.3 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813 * 4-6 acid washed weighing delivery -31.6 yuan/kg; Stainless steel welded pipe 32168 material, specification 219-813 * 4-6 acid washed weighing delivery -25.3 yuan/kg. 4、 Statistical data: According to Mysteel research: On February 27, 2025, the social inventory of 89 caliber stainless steel warehouses in the mainstream market nationwide was 1127485 tons, an increase of 57587 tons or 5.38% compared to the previous week. Among them: The total inventory of cold-rolled stainless steel was 706267 tons, an increase of 34148 tons or 5.08% compared to last week; The total inventory of hot-rolled stainless steel was 421218 tons, an increase of 23439 tons or 5.89% compared to last week; The total inventory of the 200 series is 185096 tons, an increase of 3771 tons or 2.08% compared to last week; The total inventory of 300 series is 742558 tons, an increase of 31235 tons or 4.39% compared to last week; The total inventory of 400 series was 199831 tons, an increase of 22581 tons or 12.74% compared to last week. Wuxi 50 warehouse has a caliber inventory of 681412 tons, an increase of 25240 tons or 3.85% compared to last week; The caliber inventory of Warehouse 28 in Foshan is 342107 tons, an increase of 22269 tons or 6.96% compared to last week; 11 warehouses in Zibo, Jieyang, Shenyang, and Xian have a caliber inventory of 103966 tons, an increase of 11518 tons, or 12.46%. 5、 Market analysis On February 3, 2025, a ban ignited the "explosive barrel" of the global nickel market. The Philippine Senate has passed a ban on the export of mineral raw materials, which is planned to be officially implemented in five years. As soon as this news came out, the nickel futures market felt like riding a roller coaster, with prices soaring first and then plummeting sharply, leaving people confused. Some people say this is a desperate attempt, while others think its just thunder and rain, but little emphasis. But is this really that simple? The trigger for the incident is actually very clear - the Philippines wants to learn from Indonesias approach and keep its nickel ore resources for domestic processing to enhance the added value of the industrial chain. To put it simply, I dont want to be a "resource transporter" anymore and hope to build my countrys nickel processing industry through a ban on mining. In 2024, the Philippines exported 90.5% of its nickel ore to China, with a quantity of 34.34 million tons, while there were only two processing plants domestically, with an industry retention rate of less than 5%. This has kept the Philippines in a "low-end role" in the global nickel market, relying only on selling raw ore to earn some hard-earned money. The problem is that the Philippines financial situation is not strong. Data shows that in 2024, the Philippines nickel ore reserves will only account for 3.7% of the worlds total, and the ore grade will be only 1.3%, far lower than Indonesias 1.8%. Its like building a house, the bricks are not good enough and you still want to start building your own mansion, which sounds a bit uncertain. In addition, the Philippines has a weak industrial foundation, high electricity costs, and low logistics efficiency, making this path inevitably bumpy. But unfortunately, the Philippines is determined to give it a try and turn the tide with this mining ban bill. The Philippines has passed a mining ban bill on the raw material side, coupled with Indonesia setting a quota of about 200 million tons for nickel ore mining this year, which has caused mining disturbances to heat up again and increased the risk of medium - to long-term raw material shortages. At present, major domestic smelters are maintaining normal production and their output is steadily increasing; Indonesias nickel iron production has rebounded significantly. On the demand side, stainless steel companies are gradually resuming work after the holiday, and the market is paying attention to domestic policy guidance. It is expected that in the short term, weak demand based procurement will continue, and inventory will continue to accumulate. In terms of stainless steel, the bullish atmosphere is relatively strong, with upstream raw materials steadily increasing and scrap stainless steel rising by more than 200 yuan/ton. Cost support expectations are increasing, and Qingshan has raised the price of stainless steel bars across the entire line. However, the social inventory of stainless steel continues to increase, and attention should be paid to the resistance along the upper range. In terms of operation, it is recommended to observe for the time being.

Zhejiang Benji Stainless Steel Co., Ltd.,