First, the raw material report: 1. Nickel: On December 16th, London nickel closed at USD 14,263, down USD 83, or 0.58%; The latest price of Shanghai Nickel 2601 is 111,830 yuan, down by 0.71% in 800 yuan. 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 2602 is 12,315 yuan, down by 0.32% in 40 yuan; The position was 140,495 lots and the turnover was 62,850 lots. 3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton): 1) Edge wire of 304 super laser plate: 9300 yuan/ton, new material of 304, thick tube of white stamping plate: 9100 yuan/ton, industrial material of 304, thick tube of 8650 yuan/ton, and large nut core of 304 oil punch: 8500 yuan/ton; 2), 316 new material laser plate, edge wire 17500, 316 industrial material, plate short and thick tube 17000; 3), 2205 black material 17000, white material 17500; 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: 13,000 yuan/ton for 3.0 * 1,500 * 6,000 mm for 304/NO.1, and 12,700 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 23350 yuan/ton, 4.0-10.0*1500*6000 burr is 23050 yuan/ton, and 12.0*1500*6000 burr is 23250 yuan/ton; ; S22053 25850 yuan/ton made of 4-10mm and 26550 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 12350 yuan/ton, 3.0*1500*6000 burr of 316L material /NO.1 is 23350 yuan/ton, and 4.0-12.0*1500*6000 burr is 23050 yuan. Dingxin 2205 hot-rolled hot-rolled flat plate is 2600 yuan/ton for 3mm and 25750 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: 12,650 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 12,200 yuan/ton, 316L is 22,200 yuan/ton, TP321 is 15,000 yuan/ton, 321 is 13,800 yuan/ton, and S22053 is 23,700 yuan/ton. 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 28,500 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 】 The material of 304 is 15,200 yuan/ton, the material of TP321 is 17,500 yuan/ton, the material of 316L is 27,000 yuan/ton, the material of 316LGB is 29,600 yuan/ton, and the material of S22053 is 28,500 yuan/ton. 4. 【 Sales price of Fukai bar 】: 1) Round steel of 65-130: 27,000 yuan/ton for German standard 316, 33,300 yuan/ton for 904L, 30,000 yuan/ton for 310S, 25,500 yuan/ton for 2205(F60) and S32750(F53). 3) Round steel of 65-130: 153,000 yuan/ton for N07718, 85,500 yuan/ton for N06625, 60,000 yuan/ton for N08810, 78,000 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-31.8 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 11th, 2025, the social stock of stainless steel 89 warehouse in the national mainstream market was 1,063,572 tons, 16,703 tons less than last week, with a decrease of 1.55%, including: The total inventory of cold-rolled stainless steel is 619,591 tons, which is 6,890 tons less than last week, a decrease of 1.10%; The total inventory of hot-rolled stainless steel is 443,981 tons, which is 9,813 tons less than last week, with a decrease of 2.16%. The total inventory of 200 series was 176,837 tons, a decrease of 15,117 tons or 7.88% compared with last week. The total inventory of 300 series is 662,586 tons, which is 1,749 tons less than last week, a decrease of 0.26%; The total inventory of 400 series is 224,149 tons, an increase of 163 tons over last week, with an increase of 0.07%; The caliber inventory of Wuxi 50 warehouse is 579,230 tons, an increase of 2,825 tons over last week, with an increase of 0.49%; The caliber inventory of Foshan 28 warehouse is 307,423 tons, which is 16,062 tons less than last week, with a decrease of 4.97%. Inventories in Zibo, Jieyang, Shenyang and Xi an are 155,469 tons, down 2,141 tons or 1.36% from last week. V. Market analysis On December 17th, the domestic ferromolybdenum market was deadlocked, and the mainstream price of the market was 232,000-237,000 yuan/ton. At present, the demand side of nickel presents a pattern of "ice and fire": the stainless steel industry, which accounts for the main demand, continues to be depressed due to weak terminal consumption, and it is difficult to digest excess supply; Stainless steel enterprises are busy reducing production and upgrading products to cope with the cold winter; At present, the demand side in the north is suppressed by the cold wave weather and the reduction of construction projects, and the outdoor work is basically stagnant, and the number of new projects started in the whole year is limited, resulting in a significant year-on-year decline in overall demand. The markets expectations for the subsequent winter storage are also conservative, and it is expected that the scale will remain low, and it is difficult to have a significant recovery. The supply side is affected by the environmental protection and production restriction policy, and there is a certain contraction expectation, but it is not enough to reverse the overall supply and demand relationship. Under the background of weak fundamental drive and slow inventory removal, the price of stainless steel lacks continuous upward momentum.