The strategic value of molybdenum is further highlighted, and Jin Jiu expects to falsify the "Silver Ten" and expects to decline-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report:
1. Nickel: On October 9, London nickel closed at $15,492, up by $146 or 0.95%; The latest price of Shanghai Nickel 2511 is 123,620 yuan, up by 500 yuan, or 0.41%; Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 8850 yuan /50 basis tons. The reference price of Luoyang ferromolybdenum FeMo60 is 275,200 yuan/ton.
2. The latest price of stainless steel 2512 is 12,865 yuan, up by 45 yuan, or 0.35%; The position was 136,769 lots and the turnover was 33,217 lots.
3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton):
1) 304 new material and laser plate: 9650 yuan/ton, 304 new punching plate and short tube head thickness: 9550 yuan/ton, 304 industrial material and thick plate tube: 9150 yuan/ton, and 304 oil punch with large nut core: 9100 yuan/ton;
2), 316 new material, laser plate, edge wire 18900, 316 industrial material, plate short and thick tube 18600;
3), 2205 black material 18300, white material 18700; 2507 black material 19500, white material 20300; 2520 black material 21100, white material 23000.
Delivery place: A113 (Yongchang Metal), South of No.15 Road, Binhai No.1 Road, Longwan District, Wenzhou City (invoice with tax included, plus tax point)
Second, Wuxi stainless steel coil reference price
1, Taigang hot rolling Wuxi price:
300 hot rolled flat plate: 13,400 yuan/ton for 3.0 * 1,500 * 6,000 mm for 304/NO.1, and 13,100 yuan/ton for 4-10mm; 321/ NO.1 is 16,200 yuan/ton for 3-6mm and 16,600 yuan/ton for 8-10mm; The raw edge of 4.0-10.0*1500*C of 316L/NO.1 is 25,300 yuan/ton.
2. Wuxi guide price of Dongte hot rolled flat plate:
3.0*1520*C burr of 304/NO.1 is 12,850 yuan/ton, and 4.0-12.0*1520*C burr is 12,800 yuan/ton;
3.0*1520*C burr of 316L/NO.1 is 24,700 yuan/ton, and 4.0-12.0*1520*C burr is 24,500 yuan/ton;
S22053 27400 yuan/ton made of 4-10mm and 28100 yuan/ton made of 12mm,
32400 yuan/ton for 3mm, 32100 yuan/ton for 4-12mm and 32800 yuan/ton for 14mm for 310S hot rolled flat plate.
3. Castle Peak Hot Rolling:
3.0-12.0*1520*C burr of 304/NO.1 is 12,700 yuan/ton, 3.0*1520*C burr of 316L material /NO.1 is 24,700 yuan/ton, and 4.0-12.0*1520*C burr is 24,500 yuan/ton.
Dingxin 2205 hot-rolled hot-rolled flat plate is 27,500 yuan/ton for 3mm and 27,200 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 price: 13,100 yuan/ton for 4.0-8.0*1520*C of 304/NO.1, 25,700 yuan/ton for 3.0*1520*C of 316L/NO.1, and 25,300 yuan/ton for 4.0-8.0 * 1520 * C. 10.0-12.0*1520*C burr 25,600 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 12,700 yuan/ton, 316L material is 24,400 yuan/ton, TP321 material is 15,400 yuan/ton, 321 material is 14,200 yuan/ton, and S22053 material is 26,050 yuan/ton, for 310S.
2. [New Materials of Zhejiang Friendship]
1) 17,150 yuan/ton of 347H continuous casting billet made of 160-360.
2) 25,900 yuan/ton for continuous casting billet made of 2205, 160-360, and X yuan/ton for bar made of 65-105;
3) 31,200 yuan/ton for continuous casting billet made of 2507 ￠160-360, and x yuan/ton made of 65-105 (negotiable);
4) 33,800 yuan/ton of continuous casting billet made of 32,760 ~ 160-360
5) 30700 yuan/ton for continuous casting billet made of 310S ~ 160-360 and 30800 yuan/ton for bar made of 65-130.
6) 29,500 yuan/ton for 904L material ￠160-360, and x yuan/ton for ￠65-105 (negotiable).
7) The continuous casting billet made of 317L ~ 160-360 is 32,100 yuan/ton.
8) 24350 yuan/ton of 316H material (150 * 150-240 * 240),
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 26800 yuan/ton;
2) 31300 yuan/ton for continuous casting round of 310S material (150-300) and 32300 yuan/ton for round steel of 65-130; Round steel made of 309S ~ 65-130 is 26,000 yuan/ton;
3), S32750(F53) material ￠150-300 continuous casting circle 32500 yuan/ton; 65-130 round steel is 33,800 yuan/ton. S32760(F55) material ￠65-130 round steel 37800 yuan/ton.
4) 316l ~ 65-130 round steel is 26,600 yuan/ton; 316ti ~ 65-130 round steel 28,000 yuan/ton; National standard 316l ~ 65-130 round steel 31500 yuan/ton; German standard 316 material-65-130 round steel 29,000 yuan/ton; 317L ~ 65-130 round steel 34200 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 17,800 yuan/ton; 347H round steel of 65-130 is 19,400 yuan/ton;
6), No.7718 ~ 200-250 forging round X yuan/ton; 65-130 round steel X yuan/ton;
7), No.8810 ~ 200-250 forging round 61500 yuan/ton; 65-130 round steel 62500 yuan/ton.
8), No.8926/1.4529 forged round steel ~ 200-250 round steel 86000 yuan/ton, ~ 65-130 round steel 76000 yuan/ton;
9), NO8825 material ￠200-250 forged round 88500 yuan/ton, ￠65-130 round steel 91500 yuan/ton;
10), No.8028 ~ 200-250 forging round 79500 yuan/ton, ~ 65-130 round steel 80500 yuan/ton;
11), No.8120 ~ 200-250 forging round X yuan/ton, ~ 65 ~ 130 round steel X yuan/ton;
12), 630 material (17-4), 150-300 continuous casting round 15700 yuan/ton, 65-130 round steel 15700 yuan/ton; 631 material (17-7)-65-130 round steel 18,600 yuan/ton; 632 material (15-7mo) ~ 65-130 round steel X yuan/ton;
13), NO6625 material-200-250 forged round 180,000 yuan/ton; 65-130 round steel 174,000 yuan/ton;
14) Forged round made of NO6601 (200-250) is 114,000 yuan/ton; 115,000 yuan/ton for 65-130.
15) Forged round made of NO6600 ~ 200-250 is 124,000 yuan/ton; 126,000 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 33800 yuan/ton;
18), S31254 material-65-130 round steel 63000 yuan/ton.
19), 904L material ￠65-130 round steel 63500 yuan/ton.
20), XM-19 material ￠65-130 round steel 33800 yuan/ton, 15-5PH(XM-12) material ￠65-130 round steel 18200 yuan/ton.
21) Forged round of NO3030 material (200-250) X yuan/ton; 65-130 round steel x yuan/ton.
155,000 yuan/ton of NO4400 material ~ 200-250;
22) Forged round made of NO4400 ~ 200-250 is 138,000 yuan/ton; 65-130 round steel 140,000 yuan/ton.
23), 1.4460 material-65-130 round steel x 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-19.4 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-33.7 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 30, 2025, the social stock of stainless steel 89 warehouse in the mainstream market in China was 975,895 tons, which was 8,594 tons less than last week, with a decrease of 0.87%, including:
The total inventory of cold-rolled stainless steel is 588,569 tons, which is 8,634 tons less than last week, a decrease of 1.45%;
The total inventory of hot-rolled stainless steel was 387,326 tons, 40 tons more than last week, with an increase of 0.01%;
The total inventory of 200 series was 172,382 tons, an increase of 3,276 tons or 1.94% over last week.
The total inventory of 300 series is 617,123 tons, which is 6,169 tons less than last week, a decrease of 0.99%;
The total inventory of 400 series is 186,390 tons, which is 5,701 tons less than last week, a decrease of 2.97%;
The caliber inventory of Wuxi 50 warehouse is 582,661 tons, which is 5,536 tons less than last week, a decrease of 0.94%;
The caliber inventory of Foshan 28 warehouse is 277,454 tons, which is 3,954 tons less than last week, with a decrease of 1.41%;
Zibo, Jieyang, Shenyang and Xi an have a stock of 115,780 tons, an increase of 896 tons or 0.78% over last week.

V. Market analysis
On October 9th, 2025, the data of Changjiang Nonferrous Metals Network showed that the quotation range of ferromolybdenum FeMo60 dropped to 273,500-275,500 yuan/ton, with an average price of 274,500 yuan/ton, down 2,000 yuan/ton from the previous trading day. From the supply side, domestic molybdenum production remained stable at a high level.
According to the data of China Molybdenum Industry Association, the operating rate of molybdenum concentrates in the main domestic producing areas (Henan, Shaanxi and Jilin) remained above 85% in September, and some large mines returned to full production due to the end of early maintenance, and the amount of superimposed imported molybdenum concentrates increased month-on-month, and the supply of raw materials in the market tended to be loose. In the smelting process, the capacity utilization rate of ferromolybdenum plant was increased to 90%, and some enterprises slightly adjusted their quotations to win orders, driving the mainstream transaction price in the market down. When the price of molybdenum surged in August, downstream steel mills mostly held a wait-and-see attitude, only maintaining just-needed procurement; In the process of price falling in September, some traders reduced their prices for withdrawing funds, which aggravated market volatility.
Chinas "14th Five-Year Plan" for the development of raw material industry emphasizes "ensuring the supply safety of rare metals such as molybdenum and vanadium", which accelerates the domestic molybdenum exploration and overseas compliance layout. In September, the Ministry of Industry and Information Technology issued the Work Plan for Steady Growth of Iron and Steel Industry, proposing "optimizing the proportion of alloying elements" to indirectly stabilize the demand expectation of ferromolybdenum. Internationally, the Federal Reserve kept interest rates unchanged in September, the weakening of the US dollar index supported commodity prices, and the global green transformation promoted the growth of demand for high-end steel. The strategic value of molybdenum as an "industrial vitamin" was further highlighted.
The news that Indonesia adjusted the three-year RKAB approval system back to the annual system and Indonesia cracked down on illegal mining of tin mines has limited expectations for the sustainability of nickel price bullish disturbance. Excess logic and high inventory still put pressure on nickel price, so we should be cautious about the rebound space of nickel price and pay attention to Indonesias crackdown on illegal mining disturbance.
The traditional peak season demand in Jin Jiu is only a weak recovery, and the expectation is falsified. Therefore, the market expectation for "Silver Ten" has obviously dropped, and the expectation for the peak season of Silver Ten needs to be verified, and the high probability of demand for Silver Ten stainless steel is also difficult to be optimistic. Although a number of macro-stimulus policies have been issued recently, it will take time to transmit to the downstream and the market. It is judged that the overall demand for stainless steel in October is low, and maintaining a weak recovery will be a high probability event. Short-term prices may maintain range volatility, and be wary of the bullish disturbance of Indonesian mine news.

Zhejiang Benji Stainless Steel Co., Ltd.,