It is not easy for ferronickel to decline due to heavy losses in iron works, and short-term reduction in production by stainless steel enterprises is expected to push the price rebound.-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report: 1. Nickel: On July 3, the closing price of nickel in London was $15,451, up $149, or 0.97%; The latest price of Shanghai Nickel 2508 is 122,540 yuan, up by 1,050 yuan or 0.86%. Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 7700 yuan /50 basis tons. Luoyang ferromolybdenum 241600 yuan/ton, up 3500 yuan. 2. The latest price of stainless steel 2508 is 12,770 yuan, up by 90 yuan, or 0.71%; The position was 94,395 lots and the turnover was 56,187 lots. 3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton): 1) 304 new material and laser plate: 9400 yuan/ton, 304 new punching plate and thick plate tube: 9300 yuan/ton, 304 industrial material and plate tube: 8900 yuan/ton, 304 oil punch and big nut core: 9200 yuan/ton; 2), 316 new material, laser plate, edge wire 17700, 316 industrial material, plate short and thick tube 17400; 3), 2205 black material 16900, white material 17600; 2507 black material 18800, white material 20000; 2520 black material 21000, white material 22700. Delivery place: A113, No.15 Road, Binhai No.1 Road, Longwan District, Wenzhou City (including tax invoicing and additional tax points) Second, Wuxi stainless steel coil reference price 1, TISCO hot rolling guide price: 300 hot rolling series: 14,500 yuan/ton for 304/NO.1; 15,100 yuan/ton of 321/ NO.1; 24,600 yuan/ton for 316L/NO.1 Medium plate (trimmed, thickness: 14-20mm, width: 1500mm)304 material-16,100 yuan/ton, 321 material 18,300 yuan/ton, 316L material 27,300 yuan/ton. 2. Guide price of Dongte hot rolling: S30408 12,250 yuan/ton made of 4-12mm and 12,250 yuan/ton made of 14mm; 12,250 yuan/ton for 16mm; S31603 22,950 yuan/ton made of 4-12mm and 22,950 yuan/ton made of 14mm; 16mm 22950 yuan/ton; 310S hot rolled flat plate is 32,200 yuan/ton for 3mm, 31,900 yuan/ton for 4-12mm and 32,600 yuan/ton for 14mm. 3. Qingshan hot rolling: 304 material is 12,100 yuan/ton; Dingxin 2205 hot rolled 24,400 yuan/ton, Dingxin 310S material 3mm 32,000 yuan/ton, 4-10mm 31,700 yuan/ton. 4. Zhang Pu guide price: 12,450 yuan/ton for 304 material and 15,500 yuan/ton for 321 hot rolling; 316L hot rolling 23200 yuan/ton. III. Reference price of stainless steel tubes and rods 1. [The price of Qingshan round steel is 65-130 in April] S30400 material is 12,200 yuan/ton, 316L material is 22,300 yuan/ton, TP321 material is 14,900 yuan/ton, 321 material is 13,700 yuan/ton, and S22053 material is 23,300 yuan/ton, 310S s. 2. 【 Zhejiang Friendship New Material Continuous Casting Slab 】 1) 16,300 yuan/ton of 347H material (160-360); 2) 22,800 yuan/ton for 2205 material ￠160-360 and 23,300 yuan/ton for 65-105 (negotiable); 3) 28,100 yuan/ton for 2507, 160-360 and 29,500 yuan/ton for 65-105; 4) 31,100 yuan/ton of 32,760 material (160-360) 5) 30,400 yuan/ton for 310S material ￠160-360 and 30,600 yuan/ton for 65-130. 6) 57,800 yuan/ton (negotiable) for 904L material (160-360). 3. 【 Yongxing Bar 65-130 】 The material of 304 is 16,000 yuan/ton, the material of TP321 is 18,400 yuan/ton, the material of 316L is 27,000 yuan/ton, the material of 316LGB is 29,800 yuan/ton, and the material of S22053 is 28,500 yuan/ton. 4. [Fukai Sales Price]: 1), 2205(F60) material ￠150-300 round steel 24600 yuan/ton (discussion); 65-130 round steel 24,800 yuan/ton (by electricity); 2) 32,000 yuan/ton for 310S material (150-300) and 33,000 yuan/ton for 65-130; 26,000 yuan/ton of 309S material ~ 65-130; 3), S32750(F53) material ￠150-300 round steel 30200 yuan/ton; 65-130 round steel is 33,000 yuan/ton. S32760(F55) material ￠65-130 round steel 37000 yuan/ton. 4) 316l ~ 65-130 round steel is 27,000 yuan/ton; 316ti ~ 65-130 round steel 28,100 yuan/ton; National standard 316l ~ 65-130 round steel 31500 yuan/ton; German standard 316 material-65-130 round steel 28,700 yuan/ton; 317L ~ 65-130 round steel 34700 yuan/ton; 5) 15,100 yuan/ton for 304 round steel (150-300) and 16,000 yuan/ton for 65-130; 18,000 yuan/ton of 321H material ~ 65-130; 20200 yuan/ton of 347H material ~ 65-130; 6), No.7718 ~ 200-250 round steel 170,000 yuan/ton; 65-130 round steel 171,000 yuan/ton; 7), No.8810 ~ 200-250 round steel 64500 yuan/ton; 65-130 round steel 64000 yuan/ton. 8), NO8926/1.4529 material ￠200-250 round steel 87000 yuan/ton, ￠65-130 round steel 75000 yuan/ton; 9) NO8825 material: 90,000 yuan/ton for 200-250 round steel and 93,000 yuan/ton for 65-130 round steel; 10), No.8028 ~ 200-250 round steel 80000 yuan/ton, ~ 65-130 round steel 81000 yuan/ton; 11), No.8120 ~ 200-250 round steel 84000 yuan/ton, ~ 65-130 round steel 86000 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 19,000 yuan/ton; 632 material (15-7mo) ~ 65-130 round steel 29,300 yuan/ton; 13) 183,000 yuan/ton of NO6625 material (200-250); 65-130 round steel 178,000 yuan/ton; 14) 115,000 yuan/ton of NO6601 material (200-250); 116,000 yuan/ton for 65-130. 15) 129,000 yuan/ton of NO6600 material (200-250); 131,000 yuan/ton for 65-130. 16) 200,000 yuan/ton for NO10276￠200-250-250; 65-130 round steel 202,000 yuan/ton; 17), XM-19 ~ 65-130 round steel 34300 yuan/ton; 18), S31254 material-65-130 round steel 61000 yuan/ton. 19), 904L material ￠65-130 round steel 62000 yuan/ton. 20), XM-19 material ￠65-130 round steel 34300 yuan/ton, 15-5PH(XM-12) material ￠65-130 round steel 18600 yuan/ton. 21) 157,000 yuan/ton of NO3030 material (200-250); 65-130 round steel 159,000 yuan/ton. 155,000 yuan/ton of NO4400 material ~ 200-250; 22) 142,000 yuan/ton of NO4400 material (200-250); 65-130 round steel 144000 yuan/ton. 23), 1.4460 material ￠65-130 round steel 23800 yuan/ton. 5. 【 Zhejiang Benji Pipe Reference Price 】 Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-24.7 yuan/kg; Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-37.8 yuan/kg; Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-28.6 yuan/kg; Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-18.7 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-31.4 yuan/kg; Stainless steel welded pipe 32168 material, specification 219-813*4-6 pickling and weighing delivery-24.9 yuan /kg. Fourth, statistical data: According to Mysteel research: On July 3, 2025, the social stock of stainless steel 89 warehouse in the national mainstream market was 1,156,751 tons, an increase of 2,307 tons over last week, with an increase of 0.20%, of which: The total inventory of cold-rolled stainless steel was 625,523 tons, an increase of 3,272 tons or 0.53% over last week. The total inventory of hot-rolled stainless steel is 531,228 tons, which is 965 tons less than last week, a decrease of 0.18%; The total inventory of 200 series is 217,010 tons, an increase of 14,817 tons over last week, with an increase of 7.33%; The total inventory of 300 series is 673,807 tons, which is 11,222 tons less than last week, a decrease of 1.64%; The total inventory of 400 series is 265,934 tons, which is 1,288 tons less than last week, a decrease of 0.48%; The caliber inventory of Wuxi 50 warehouse is 609,340 tons, which is 18,665 tons less than last week, a decrease of 2.97%; The caliber inventory of Foshan 28 warehouse is 357,816 tons, which is 16,667 tons more than last week, with an increase of 4.89%. 11 warehouses in Zibo, Jieyang, Shenyang and Xi an have a caliber inventory of 189,595 tons, an increase of 4,305 tons or 2.32% over last week. V. Market analysis On July 3, the domestic ex-factory price of Mysteel high-nickel iron temporarily stabilized to 910-915 yuan/nickel; Ferronickel prices continue to decline under the heavy losses of iron works, which has great resistance. Affected by weak demand, trade uncertainty and other factors, Qingshan Group, the worlds largest stainless steel producer, had to cut production capacity, and the main production line of its stainless steel factory in Indonesia announced the suspension of production, which triggered a wide-ranging discussion in the industry. In April this year, stainless steel prices in China and Indonesia both fell to the lowest level in five years. At the same time, the global spot price of nickel ore continued to fall, with a year-on-year decrease of about 13.2%, which shows that the stainless steel market has actually been in a state of "supply exceeding demand". Some local economic circles in Indonesia pointed out that there are currently 44 nickel smelters in Indonesia, which is a serious surplus, and the existing industrial scale must be effectively reduced to prevent price collapse. In the first half of this year, the growth rate of stainless steel supply exceeded the growth rate of demand, and the import and export data showed signs of marginal weakening. It is necessary to continue to pay attention to the impact of the results of global trade negotiations on demand. In the case of strong supply and weak demand, stainless steel continues to accumulate stocks. At present, the support of cost to price is insufficient. The upside down of market price and cost provides a certain bullish expectation for bulls. Short-term production reduction of stainless steel enterprises is expected to promote the price rebound, but the long-term production reduction trend has not yet arrived, and the price is still in the "bottom grinding" stage.

Zhejiang Benji Stainless Steel Co., Ltd.,