The global molybdenum concentrate inventory has dropped to a very low level in history, and the demand for stainless steel is still in the off-season after the holiday.-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report:
1. Nickel: On March 9, London nickel closed at $17,266, down $476, or 2.68%; The latest price of Shanghai Nickel 2605 is 135,690 yuan, down 2,840 yuan, or 2.05%. Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 8950 yuan /50 basis tons. The reference price of domestic ferromolybdenum FeMo60 is 281900 yuan/ton.
2. The latest price of stainless steel 2605 is 14,155 yuan, down 115 yuan, or 0.81%; The position was 112,300 lots and the turnover was 79,646 lots.
3. Price quotation of waste stainless steel in Dai Nan (RMB/ton):
1. 201 new materials 5050-5450, 304 new materials 9550-9750, 304 industry 9500-9800, 304 shavings 8650-8950.
2, 316 furnace 17900-18500, 316 shavings 16300-16600
3, 201 scrap 5400-5600, 201 old tube 4700-4900, 202 furnace 5650-5750.
4, 430 No film 4350-4550, 431 Recharge 3350-3550
III. Reference price of stainless steel tubes and rods
1. 【 March price of Qingshan round steel-65-130 】 S30400 material is 13,750 yuan/ton, 316L material is 26,450 yuan, 1.4571 European standard material is 28,100 yuan/ton, TP321 material is 16,550 yuan/ton, and 321 material is 15,350 yuan/ton.
2. 【 Reference Price of Zhejiang Benji Pipe 】
Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-26.4 yuan/kg;
Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-41.8 yuan/kg;
Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-30.2 yuan/kg;
Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-20.6 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-36.5 yuan/kg;
Stainless steel welded pipe 32168 material, specification 219-813*4-6 pickling and weighing delivery-24.5 yuan /kg.
V. Market analysis
Ferrochrome: The price of raw chrome ore continues to rise, which has become the primary factor to squeeze the profits of factories and promote the upward quotation of ferrochromium. According to industry data, the spot price of chrome ore in major ports has stood at a high level, and the futures quotation has also increased significantly compared with that before the holiday, which has increased the smelting cost of ferrochromium in the mainstream process, and the factory is facing huge cost pressure. On the supply side, although there was a surplus of ferrochromium due to the reduction of production in downstream steel mills last month, this month, with the sharp rebound in stainless steel production, the market is expected to turn into a gap between supply and demand. In addition, some factories mainly deliver early orders, and the spot retail resources in the market continue to be tight, and manufacturers are reluctant to sell at a high price.
In terms of nickel ore, Indonesias nickel ore premium remained at $40/wet ton, while the Philippines 1.5% nickel ore premium rose by $4.5/ton to $15/wet ton. In terms of ferronickel, domestic factories and traders offer firm quotations, mostly at 1100 yuan/nickel (ex-factory/bilge tax included) and above; The external bidding price of Qingshan high-nickel iron is 1070 yuan/nickel (including tax in the bilge); Trader Indonesia Railway clinched a deal.
Ferromolybdenum: As the worlds largest producer of molybdenum, China is continuously tightening the total mining control index of strategic minerals and superimposing strict environmental protection and safety inspections, resulting in a large number of small and medium-sized mines clearing their production capacity. Overseas supply is also constantly disturbed, and events such as mine shutdown and production reduction have further aggravated the global raw material shortage. As a result, the global molybdenum concentrate inventory has fallen to a very low level in history, the holders are reluctant to sell, and the market circulation supply is extremely scarce. This "hard constraint" shaped by resource endowment and industrial policy is the fundamental logic that molybdenum prices are easy to rise and difficult to fall. .
After the holiday, the demand for stainless steel is still in the off-season, and the demand has not recovered obviously. However, the spot transaction is stimulated by the rising market, and the inventory may stop increasing after reaching the high point of increasing the inventory, and the downstream maintains the mentality of just purchasing.

First, the raw material report:
1. Nickel: On March 9, London nickel closed at $17,266, down $476, or 2.68%; The latest price of Shanghai Nickel 2605 is 135,690 yuan, down 2,840 yuan, or 2.05%. Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 8950 yuan /50 basis tons. The reference price of domestic ferromolybdenum FeMo60 is 281900 yuan/ton.
2. The latest price of stainless steel 2605 is 14,155 yuan, down 115 yuan, or 0.81%; The position was 112,300 lots and the turnover was 79,646 lots.
3. Price quotation of waste stainless steel in Dai Nan (RMB/ton):
1. 201 new materials 5050-5450, 304 new materials 9550-9750, 304 industry 9500-9800, 304 shavings 8650-8950.
2, 316 furnace 17900-18500, 316 shavings 16300-16600
3, 201 scrap 5400-5600, 201 old tube 4700-4900, 202 furnace 5650-5750.
4, 430 No film 4350-4550, 431 Recharge 3350-3550
III. Reference price of stainless steel tubes and rods
1. 【 March price of Qingshan round steel-65-130 】 S30400 material is 13,750 yuan/ton, 316L material is 26,450 yuan, 1.4571 European standard material is 28,100 yuan/ton, TP321 material is 16,550 yuan/ton, and 321 material is 15,350 yuan/ton.
2. 【 Reference Price of Zhejiang Benji Pipe 】
Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-26.4 yuan/kg;
Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-41.8 yuan/kg;
Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-30.2 yuan/kg;
Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-20.6 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-36.5 yuan/kg;
Stainless steel welded pipe 32168 material, specification 219-813*4-6 pickling and weighing delivery-24.5 yuan /kg.
V. Market analysis
Ferrochrome: The price of raw chrome ore continues to rise, which has become the primary factor to squeeze the profits of factories and promote the upward quotation of ferrochromium. According to industry data, the spot price of chrome ore in major ports has stood at a high level, and the futures quotation has also increased significantly compared with that before the holiday, which has increased the smelting cost of ferrochromium in the mainstream process, and the factory is facing huge cost pressure. On the supply side, although there was a surplus of ferrochromium due to the reduction of production in downstream steel mills last month, this month, with the sharp rebound in stainless steel production, the market is expected to turn into a gap between supply and demand. In addition, some factories mainly deliver early orders, and the spot retail resources in the market continue to be tight, and manufacturers are reluctant to sell at a high price.
In terms of nickel ore, Indonesias nickel ore premium remained at $40/wet ton, while the Philippines 1.5% nickel ore premium rose by $4.5/ton to $15/wet ton. In terms of ferronickel, domestic factories and traders offer firm quotations, mostly at 1100 yuan/nickel (ex-factory/bilge tax included) and above; The external bidding price of Qingshan high-nickel iron is 1070 yuan/nickel (including tax in the bilge); Trader Indonesia Railway clinched a deal.
Ferromolybdenum: As the worlds largest producer of molybdenum, China is continuously tightening the total mining control index of strategic minerals and superimposing strict environmental protection and safety inspections, resulting in a large number of small and medium-sized mines clearing their production capacity. Overseas supply is also constantly disturbed, and events such as mine shutdown and production reduction have further aggravated the global raw material shortage. As a result, the global molybdenum concentrate inventory has fallen to a very low level in history, the holders are reluctant to sell, and the market circulation supply is extremely scarce. This "hard constraint" shaped by resource endowment and industrial policy is the fundamental logic that molybdenum prices are easy to rise and difficult to fall. .
After the holiday, the demand for stainless steel is still in the off-season, and the demand has not recovered obviously. However, the spot transaction is stimulated by the rising market, and the inventory may stop increasing after reaching the high point of increasing the inventory, and the downstream maintains the mentality of just purchasing.

Zhejiang Benji Stainless Steel Co., Ltd.,