Nickel market multi-space interweaving, reduction and quality improvement or the future development direction of stainless steel-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report: 1. Nickel: On December 4, London nickel closed at USD 14,897, up USD 24 or 0.16%; The latest price of Shanghai Nickel 2601 is RMB 117,780, up by USD 50 or 0.04%. Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 8550 yuan /50 basis tons. The reference price of Luoyang ferromolybdenum FeMo60 is 233,900 yuan/ton. 2. The latest price of stainless steel 2601 is 12,485 yuan, up by 50 yuan, or 0.40%; The position was 93,121 lots and the turnover was 69,092 lots. 3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton): 1) 304 new material and laser plate: 9100 yuan/ton, 304 new punching plate and short tube head thickness: 8900 yuan/ton, 304 industrial material and thick plate tube: 8500 yuan/ton, and 304 oil punch and big nut core: 8200 yuan/ton; 2), 316 new material, laser plate, edge wire 17300, 316 industrial material, plate short and thick tube 17000; 3), 2205 black material 17000, white material 17400; 2507 black material 18000, white material 18800; 2520 black material 19700, white material 21000. 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: 12,900 yuan/ton for 3.0 * 1,500 * 6,000 mm for 304/NO.1, and 12,600 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 23,400 yuan/ton. 2. Wuxi guide price of Dongte hot rolled flat plate: 3.0*1500*6000 burr of 304/NO.1 is 12400 yuan/ton, and 4.0-12.0*1500*6000 burr is 12300 yuan/ton; 3.0*1500*6000 burr of 316L/NO.1 is 23300 yuan/ton, 4.0-10.0*1500*6000 burr is 23000 yuan/ton, and 12.0*1500*6000 burr is 23300 yuan/ton; ; S22053 26150 yuan/ton made of 4-10mm and 26850 yuan/ton made of 12mm, 31700 yuan/ton for 3mm, 31400 yuan/ton for 4-12mm and 32100 yuan]/ton for 14mm hot rolled flat plate. 3. Castle Peak Hot Rolling: 3.0-12.0*1500*6000 burr of 304/NO.1 is 12250 yuan/ton, 3.0*1500*6000 burr of 316L material /NO.1 is 23300 yuan/ton, and 4.0-12.0*1500*6000 burr is 23000 yuan. Dingxin 2205 hot-rolled flat plate is 26,350 yuan/ton for 3mm and 26,050 yuan/ton for 4-10mm, Dingxin 310S is made of 31,300 yuan/ton of 3mm and 31,000 yuan/ton of 4-10mm. 4. Zhang Pu price: 12,550 yuan/ton for 4.0-8.0*1500*6000 of 304/NO.1, 23,800 yuan/ton for 3.0*1500*6000 of 316L/NO.1, and 4.0-8.0*1500*6000. 10.0-12.0*1500*6000 burr 23700 yuan/ton; 3.0-5.0*1500*6000 burr of 321/NO.1 is 15400 yuan/ton, and 6.0-10.0*1500*6000 burr is 15750 yuan/ton. III. Reference price of stainless steel tubes and rods 1. [The price of Qingshan Round Steel is 65-130 in December] S30400 is 12,050 yuan/ton, 316L is 22,250 yuan/ton, TP321 is 14,850 yuan/ton, 321 is 13,650 yuan/ton, and S22053 is 23,750 yuan/ton, 310S. 2. [New Materials of Zhejiang Friendship] 1) 16,000 yuan/ton of 347H continuous casting billet made of 160-360. 2) 23,700 yuan/ton for continuous casting billet made of 2205, 160-360 and 23,900 yuan/ton for bar made of 65-105; 3) 28,500 yuan/ton for continuous casting billet made of 2507, 160-360 and 30,800 yuan/ton for 65-105; 4) 31,500 yuan/ton of continuous casting billet made of 32,760 ~ 160-360. 5) The continuous casting billet made of 310S ￠160-360 is 28,800 yuan/ton, and the bar made of 65-130 is 29,100 yuan/ton. 6) 57,400 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 29,100 yuan/ton. 8) 22,500 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. 【 Sales price of Fukai bar 】: 1) Round steel of 65-130: 27,000 yuan/ton for German standard 316, 33,500 yuan/ton for 904L, 29,800 yuan/ton for 310S, 25,000 yuan/ton for 2205(F60) and S32750(F53). 3) Round steel of 65-130: 156,000 yuan/ton for N07718, 86,000 yuan/ton for N06625, 60,000 yuan/ton for N08810, 80,000 yuan/ton for N08828 and 80,000 yuan/ton for N08020. 5. 【 Zhejiang Benji Pipe Reference Price 】 Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-24.5 yuan/kg; Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-37.4 yuan/kg; Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-28.4 yuan/kg; Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-18.8 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-31.7 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 December 4th, 2025, the social stock of stainless steel 89 warehouse in the national mainstream market was 1,080,275 tons, which was 5,818 tons less than last week, with a decrease of 0.54%, including: The total inventory of cold-rolled stainless steel was 626,481 tons, a decrease of 4,329 tons or 0.69% compared with last week. The total inventory of hot-rolled stainless steel is 453,794 tons, which is 1,489 tons less than last week, with a decrease of 0.33%. The total inventory of 200 series was 191,954 tons, an increase of 2,137 tons or 1.13% over last week. The total inventory of 300 series is 664,335 tons, which is 4,861 tons less than last week, with a decrease of 0.73%; The total inventory of 400 series is 223,986 tons, which is 3,094 tons less than last week, a decrease of 1.36%; The caliber inventory of Wuxi 50 warehouse is 576,405 tons, which is 2,978 tons less than last week, with a decrease of 0.51%; The caliber inventory of Foshan 28 warehouse is 346,260 tons, which is 9,590 tons less than last week, with a decrease of 2.69%; Zibo, Jieyang, Shenyang and Xi an have a stock of 157,610 tons, an increase of 6,750 tons or 4.47% over last week. V. Market analysis At present, the nickel market presents a pattern of interweaving long and short factors. On the supply side, the domestic capacity of major resources is continuously released, and the global total supply keeps growing, which makes the pressure on the supply side persist. At the same time, although the global dominant inventory fluctuates occasionally, the absolute level is still in the historical high range, which significantly suppresses the price. In the past ten years, under the extensive growth logic of "production capacity is the right to speak", it seems that the steel industry should maintain its scale even if it loses money: enterprises would rather dilute fixed costs by increasing production than take the lead in shrinking production capacity and losing market share. In the first half of this year, the book profit of enterprises improved briefly. This "false dividend" was misunderstood by some enterprises as a signal of market recovery, and then it resumed or even increased production. As a result, the supply was released too quickly, the demand did not follow up, and the price quickly reversed. Steel enterprises fell back into a state of meager profit or even loss. At present, the operation of stainless steel is generally stable, but the contradiction between supply and demand in the stainless steel pipe market is still outstanding. In 2025, the central government said that it was necessary to counter involution, let inefficient production capacity withdraw, and focus on high-end materials. "Now it is not the era of who wins more, but who will survive." In order to break the inertia of "when steel prices rise, the volume will increase, and the volume will lose money", we must rebuild the competitive logic based on efficiency and value. Reducing quantity and improving quality is the new direction of development. The so-called reduction and quality improvement, first of all, is to "reduce the uneconomical capacity", behind which is the adjustment of the income statement. Under the pressure of green transformation, whoever can take the lead in "improving quality" will win the stock advantage in the process of "reducing quantity". In this transformation from "quantity competition" to "quality breakthrough", "reducing quantity and improving quality" is no longer a slogan, but a watershed that really determines the success or failure of an enterprise. The iron and steel industry is entering a three-phase superposition stage of "high-quality development period, deep adjustment period and transformation and upgrading period". In the past, "productivity is strong" is giving way to "intensive production is sustainable". Who can improve the ability in subtraction and seize the opportunity in transformation is qualified to participate in the competition in the new era.

Zhejiang Benji Stainless Steel Co., Ltd.,