Indonesian nickel mine approval accelerates the downward shift of nickel prices, while stainless steel transactions remain lackluster-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:

1. Nickel: On March 25th, the closing price of nickel in London was $16937, a decrease of $305, or 1.77%; The latest price of Shanghai nickel 2405 is 132460 yuan, down 2120 yuan, a decrease of 1.58%; Shanghai high carbon ferrochrome FeCr55C1000 (50 base) is priced at 8950 yuan/50 base tons. The price of Luoyang molybdenum iron FeMo60 is 220000 yuan/ton.

2. The latest price of stainless steel SS2405 is 13420 yuan, down 100 yuan, or 0.74%; The holding amount is 180688 lots, and the trading volume is 75750 lots.

3. Purchase price of waste stainless steel at Fujian Qingtuo Recycling Yongchang Freight Yard:

1) 304 first grade (small punch plate, laser material, round steel, edge wire thick plate) materials are priced at 10000 yuan/ton, 304 new pipe heads and edge materials are priced at 9900 yuan/ton, and 304 oil punch large particles are priced at 9200 yuan/ton.

2) 316L new pipe heads and corner materials cost 17600 yuan/ton, while 316 first grade white materials (small punching plate, laser plate, edge wire, round steel) cost 17700-17900 yuan/ton.

3) 2205 whiteboard, thick tube, and round steel cost 17600 yuan/ton, 2507 whiteboard, thick tube, and round steel cost 20500 yuan/ton, and 2520 whiteboard, thick tube, and round steel cost inspection.

2、 Wuxi stainless steel plate coil reference price

1. Taiyuan Iron and Steel Hot Rolling Guide Price:

300 hot-rolled series: 15000 yuan/ton for 304/NO.1; 16000 yuan/ton for 321/NO.1; 25000 yuan/ton for 316L/NO.1.

Middle plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material -16800 yuan/ton, 321 material -21200 yuan/ton, 316L material -28700 yuan/ton.

2. Dongte Hot Rolling Guide Price:

S30408 material costs 13300 yuan/ton for 4-12mm and 13500 yuan/ton for 14mm; 13700 yuan/ton for 16mm;

S31603 material costs 23600 yuan/ton for 4-12mm and 23900 yuan/ton for 14mm; 24100 yuan/ton for 16mm;

310S hot-rolled flat plates are priced at 35100 yuan/ton for 4mm, 34300 yuan/ton for 5-10mm, 34600 yuan/ton for 12mm, and 35600 yuan/ton for 14mm.

2205 hot-rolled 25100 yuan/ton

3. Dingxin 310S material costs 34200 yuan/ton for 3mm, 34300 yuan/ton for 4mm, and 34100 yuan/ton for 5-10mm.

4. Qingshan hot rolling: 304 material, 12900 yuan/ton;

5. Zhangpu guide price: 13300 yuan/ton for 304 material, 16300 yuan/ton for 321 hot-rolled; 316L hot-rolled at 23700 yuan/ton.

3、 Reference price for stainless steel pipes and rods

1. The March price of Qingshan round steel is ? 65-130. S30400 material costs 13300 yuan/ton, 316L material costs 23100 yuan/ton, TP321 material costs 16200 yuan/ton, and 321 material costs 15000 yuan/ton.

2. Zhejiang Friendship New Materials: The April price of S30400 material is 13100 yuan/ton for ? 160-260, and 13100 yuan/ton for ? 300-360. 316L material costs 23300 yuan/ton for ? 160-260, and 23300 yuan/ton for ? 300-360. 2205 material ? 160-260, 24300 yuan/ton.

3. Yongxing Bar Material ? 65-130: 304 material costs 16500 yuan/ton, TP321 material costs 19000 yuan/ton, 316L material costs 28000 yuan/ton, 316LGB material costs 31000 yuan/ton, S22053 material costs 29500 yuan/ton.

4. [Fukai Market Price]:

1) 2205 material ? 65-130 round steel 24700 yuan/ton; 24000 yuan/ton for continuous casting billets made of 2205 material with a diameter of ? 170-250;

2) TP316L continuous casting billet ? 150-250: 2300 yuan/ton; 3) NO8810 electroslag ingot ? 360-900: 64000 yuan/ton;

4) NO8825 electroslag ingot ? 360-900: 92500 yuan/ton; 5) 17-4 electroslag ingots ? 360-900: 20000 yuan/ton;

6) 625 vacuum electroslag ingots ? 360-900: 185000 yuan/ton; 7) 6600 vacuum electroslag ingots ? 360-900: 160000 yuan/ton;

8) C-276 vacuum electroslag ingot ? 360-900: 237000 yuan/ton; 9) 718 vacuum electroslag ingot ? 360-900: 185000 yuan/ton;

10) Jiangyin Hanzhou 2205/F60 material costs 27000 yuan/ton, 2507 material/F53 material costs 36000 yuan/ton, 630/17-4PH material costs 17000 yuan/ton.

11) Wuxi Puheng Forged Round 304L Material: 15000 yuan/ton for ? 140-250, 16300 yuan/ton for ? 260-400; 316L material costs 25800 yuan/ton for ? 140-250, and 26000 yuan/ton for ? 260-400.

5. [Zhejiang Benji Pipe Reference Price]

Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -26.5 yuan/kg;

Stainless steel seamless pipe S31603 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -38.7 yuan/kg;

Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -30.6 yuan/kg;

Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -19.7 yuan/kg;

Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid washed and weighed for delivery -32 yuan/kg;

Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, acid washed and weighed for delivery -25.8 yuan/kg.

4、 Statistical data:

According to Mysteel research:

On March 21, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1201763 tons, a decrease of 27646 tons or 2.25% from last week. Among them:

The total inventory of cold-rolled stainless steel is 728927 tons, a decrease of 1752 tons or 0.24% compared to last week;

The total inventory of hot-rolled stainless steel is 472836 tons, a decrease of 25894 tons or 5.19% compared to last week;

The total inventory of the 200 series is 205908 tons, a decrease of 19152 tons or 8.51% compared to last week;

The total inventory of the 300 series is 768913 tons, an increase of 7227 tons or 0.95% compared to the previous week;

The total inventory of the 400 series is 226942 tons, a decrease of 15721 tons or 6.48% compared to last week.

Wuxis inventory is 669921 tons, an increase of 14043 tons or 2.14% compared to last week;

Foshans inventory is 386347 tons, a decrease of 15155 tons or 3.77% compared to last week;

Zibo, Jieyang, Shenyang, and Xian have 145495 tons of inventory, a decrease of 26534 tons or 15.42% compared to last week.

5、 Market analysis

Nickel ore: With the acceleration of nickel ore approval in Indonesia and the weakening of resource disturbance expectations, coupled with prominent pressure on pure nickel inventory, the focus of nickel prices has significantly shifted downwards. The disturbance on the raw materials still exists, and the nickel sulfate spot is still tight. The weakening of Indonesian RKAB disturbance combined with the end of the Philippine rainy season is expected to gradually weaken the disturbance at the mining end.

Nickel iron: After the RKAB disturbance weakened, the supply of nickel iron accelerated its recovery, coupled with weak demand side, and the excess pressure of nickel iron began to emerge. Nickel iron is also relatively tight due to the limited arrival in Indonesia, and there is support below the nickel price, which may remain volatile.

On the one hand, the demand is poor, and on the other hand, the price of stainless steel futures has significantly declined, affecting market confidence. Market traders are not willing to raise prices, and over the weekend, they have lowered spot prices one after another. Since the beginning of the year, market transactions have been flat, and businesses are facing shipping pressure towards the end of the month, offering discounts in order to ship. However, the current demand recovery is slow, and overall transactions are still weak.

Zhejiang Benji Stainless Steel Co., Ltd.,