The supply of nickel ore in Indonesia has changed from tight to loose, and the downstream demand for stainless steel is expected.-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report: 1. Nickel: On September 15th, London nickel closed at USD 15,436, up USD 45, or 0.29%; The latest price of Shanghai Nickel 2511 is 122,440 yuan, up by 60 yuan, or 0.05%; Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 8850 yuan /50 basis tons. The reference price of Luoyang ferromolybdenum FeMo60 is 285,400 yuan/ton, down 1,900 yuan. 2. The latest price of stainless steel 2511 is 13,085 yuan, up by 80 yuan, or 0.62%; The position was 136,371 lots and the turnover was 80,683 lots. 3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton): 1) 304 new material and laser plate: 9700 yuan/ton, 304 new punching plate and short tube head thickness: 9600 yuan/ton, 304 industrial material and thick plate tube: 9200 yuan/ton, and 304 oil punch with large nut core: 9150 yuan/ton; 2), 316 new material, laser plate, edge wire 19000, 316 industrial material, plate short and thick tube 18700; 3), 2205 black material 18500, white material 18800; 2507 black material 19500, white material 20700; 2520 black material 21300, white material 23200. 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 rolled flat plate: 13,700 yuan/ton for 3.0 * 1,500 * 6,000 mm for 304/NO.1, and 13,400 yuan/ton for 4-10mm; 321/ NO.1 is 16,200 yuan/ton for 3-6mm and 16,600 yuan/ton for 8-10mm; 25,600 yuan/ton of 4.0-10.0 * 1,500 * 6,000 mm for 316L/NO.1 Medium plate (trimmed, thickness: 14-20mm, width: 1500mm)304 material-16,450 yuan/ton, 321 material 18,400 yuan/ton, 316L material 29,000 yuan/ton. 2. Wuxi guide price of Dongte hot rolled flat plate: 304/NO.1 is 13,050 yuan/ton for 3.0 * 1,500 * 6,000 mm and 12,950 yuan/ton for 4-12mm; S31603 is made of 25,600 yuan/ton of 3mm, 25,300 yuan/ton of 4-10mm and 25,500 yuan/ton of 12mm; S22053 27900 yuan/ton made of 4-10mm and 28600 yuan/ton made of 12mm, 32500 yuan/ton for 3mm, 32200 yuan/ton for 4-12mm and 32900 yuan/ton for 14mm hot rolled flat plate. 3. Qingshan Hot Rolling: 304 material is 12,950 yuan/ton; 25,600 yuan/ton for 3mm for 316L material, 25,300 yuan/ton for 4-10mm for 316L material; Dingxin 2205 hot rolled flat plate is 28,050 yuan/ton for 3mm and 27,750 yuan/ton for 4-10mm, Dingxin 310S is made of 32,300 yuan/ton of 3mm and 32,000 yuan/ton of 4-10mm. 4. Zhang Pu guide price: 12,900 yuan/ton for 304 material and 15,500 yuan/ton for 321 hot rolling; 316L hot rolling 25600 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 12,850 yuan/ton, 316L material is 24,450 yuan/ton, TP321 material is 15,550 yuan/ton, 321 material is 14,350 yuan/ton, and S22053 material is 26,400 yuan/ton, 310S s. 2. [New Materials of Zhejiang Friendship] 1) 17,250 yuan/ton of 347H continuous casting billet made of 160-360. 2) 26,200 yuan/ton for continuous casting billet made of 2205, 160-360 and 26,500 yuan/ton for bar made of 65-105; 3) 31,500 yuan/ton for continuous casting billet made of 2507 ￠160-360, and x yuan/ton made of 65-105 (negotiable); 4) 34,100 yuan/ton of continuous casting billet made of 32,760 ~ 160-360 5) 30800 yuan/ton for continuous casting billet made of 310S ~ 160-360 and 30900 yuan/ton for bar made of 65-130. 6) X Yuan/ton of 904L material (160-360) (negotiable). 3. 【 Yongxing Bar-65-130 】 304 material is 16,000 yuan/ton, TP321 material is 18,300 yuan/ton, 316L material is 29,000 yuan/ton, 316LGB material is 31,600 yuan/ton, and S22053 material is 31,500 yuan/ton. 4. [Fukai Sales Price]: 1), 2205(F60) material ￠150-300 round steel X yuan/ton (discussion); 65-130 round steel X yuan/ton (by electricity); 2) 32300 yuan/ton for 310S continuous casting round (150-300) and 33300 yuan/ton for round steel (65-130); Round steel made of 309S ~ 65-130 is 26,500 yuan/ton; 3), S32750(F53) material ￠150-300 continuous casting circle 32500 yuan/ton; 65-130 round steel 35300 yuan/ton. S32760(F55) material ￠65-130 round steel 39300 yuan/ton. 4) 316l ~ 65-130 round steel is 28,000 yuan/ton; 316ti ~ 65-130 round steel 28,600 yuan/ton; National standard 316l ~ 65-130 round steel 32500 yuan/ton; German standard 316 material-65-130 round steel 29500 yuan/ton; 317L ~ 65-130 round steel 35700 yuan/ton; 5), 304 material ￠150-300 continuous casting round 15100 yuan/ton, ￠65-130 round steel 15500 yuan/ton; 321H round steel (65-130) is 18,200 yuan/ton; Round steel of 347H material ￠65-130 is 20400 yuan/ton; 6) No.7718 ~ 200-250 forging round 172,000 yuan/ton; 65-130 round steel 173,000 yuan/ton; 7), No.8810 ~ 200-250 forging round 64500 yuan/ton; 65-130 round steel 65,500 yuan/ton. 8), No.8926/1.4529 forged round steel is 91,000 yuan/ton, and 65-130 round steel is 79,000 yuan/ton; 9), NO8825 material ￠200-250 forging round 93500 yuan/ton, ￠65-130 round steel 96500 yuan/ton; 10), No.8028 ~ 200-250 forged round 81500 yuan/ton, ~ 65-130 round steel 82500 yuan/ton; 11), No.8120 ~ 200-250 forged round 85500 yuan/ton, ~ 65-130 round steel 87500 yuan/ton; 12), 630 material (17-4), 150-300 continuous casting round 16500 yuan/ton, 65-130 round steel 16500 yuan/ton; 631 material (17-7)-65-130 round steel 19,600 yuan/ton; 632 material (15-7mo) ~ 65-130 round steel 29900 yuan/ton; 13) The forged round made of NO6625 (200-250) is 188,000 yuan/ton; 65-130 round steel 182,000 yuan/ton; 14) The forged round made of NO6601 (200-250) is 119,000 yuan/ton; 120,000 yuan/ton for 65-130. 15) Forged round made of NO6600 ~ 200-250 is 132,000 yuan/ton; 134,000 yuan/ton for 65-130. 16), No.10276 ~ 200-250 forging round 207000 yuan/ton; 65-130 round steel 209,000 yuan/ton; 17), XM-19 ~ 65-130 round steel 34300 yuan/ton; 18), S31254 material-65-130 round steel 64000 yuan/ton. 19), 904L material ￠65-130 round steel 65000 yuan/ton. 20), XM-19 material ￠65-130 round steel 34800 yuan/ton, 15-5PH(XM-12) material ￠65-130 round steel 19200 yuan/ton. 21) Forged round made of NO3030 ~ 200-250 is 161,000 yuan/ton; 65-130 round steel 163,000 yuan/ton. 155,000 yuan/ton of NO4400 material ~ 200-250; 22) Forged round made of NO4400 ~ 200-250 is 148,000 yuan/ton; 65-130 round steel 150,000 yuan/ton. 23), 1.4460 material ￠65-130 round steel 24800 yuan/ton. 5. 【 Zhejiang Benji Pipe Reference Price 】 Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-25.5 yuan/kg; Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-40.1 yuan/kg; Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-29.5 yuan/kg; Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-19.2 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-33.6 yuan/kg; Stainless steel welded pipe 32168 material, specification 219-813*4-6 pickling and weighing delivery-25 yuan /kg. Fourth, statistical data: According to Mysteel research: On September 11th, 2025, the social stock of stainless steel 89 warehouse in the national mainstream market was 1,012,508 tons, which was 41,066 tons less than last week, with a decrease rate of 3.90%, including: The total inventory of cold-rolled stainless steel is 597,768 tons, which is 16,833 tons less than last week, with a decrease of 2.74%. The total inventory of hot-rolled stainless steel was 414,740 tons, a decrease of 24,233 tons or 5.52% compared with last week. The total inventory of 200 series is 179,374 tons, which is 11,465 tons less than last week, a decrease of 6.01%; The total inventory of 300 series is 623,705 tons, which is 17,163 tons less than last week, a decrease of 2.68%; The total inventory of 400 series is 209,429 tons, a decrease of 12,438 tons or 5.61% compared with last week; The caliber inventory of Wuxi 50 warehouse is 583,655 tons, which is 12,920 tons less than last week, a decrease of 2.17%; The caliber inventory of Foshan 28 warehouse is 297,123 tons, which is 16,071 tons less than last week, with a decrease rate of 5.13%; 11 warehouses in Zibo, Jieyang, Shenyang and Xi an have a caliber inventory of 131,730 tons, a decrease of 12,075 tons or 8.40% compared with last week. V. Market analysis Yesterday, domestic ferromolybdenum continued its weak downward trend. According to the latest data released by Indonesia Nickel Mining Association, RKAB (Nickel Mining Quota) has approved 364 million wet tons in 2025, an increase of over 22% compared with 298 million wet tons at the beginning of the year. According to the mining efficiency of 85%, the actual supply of nickel ore in Indonesia is expected to be about 300 million wet tons in 2025, while the total demand for nickel ore in the whole year is about 260 million wet tons. The supply pattern of nickel ore has changed from tight at the beginning of the year to loose. Domestic pure nickel supply continues to be at a high level. In August, the domestic pure nickel output was 35,200 tons, and the cumulative output from January to August reached 264,000 tons, up 25.84% year-on-year. It is expected that the domestic pure nickel output will exceed 400,000 tons in the whole year. On the whole, the domestic pure nickel market presents an oversupply pattern. To sum up, the supply of nickel ore in Indonesia has turned from tight to loose, and the global nickel inventory has remained high, and the upward price of nickel is under great pressure. The recent domestic policies have also released some determination to continue to strengthen monetary and fiscal policies and increase domestic demand to fight inflation; After entering next week, the demand improvement in the peak season and the speculation of stocking goods in advance before the National Day will gradually appear, so overall, the macro mood shows signs of warming up. If more anti-involution rules come to the ground, it is expected to be better than this week. At present, the price of raw materials continues to be strong, the macro mood is warm, the stainless steel futures price fluctuates, and stainless steel enters the traditional peak season from September to October, and the low and downstream demand in the market has strong expectations. It is expected to continue to fluctuate at a high level next week.

Zhejiang Benji Stainless Steel Co., Ltd.,