Sudden changes in a factory in Indonesia have resulted in only 30% of nickel iron production capacity remaining, making it difficult for the stainless steel market to expand-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report: 1. Nickel: On February 23rd, the closing price of nickel in London was $15517, down $148, or 0.94%; The latest price of Shanghai nickel 2505 is 124850 yuan, a decrease of 570 yuan, a decrease of 0.45%; Shanghai high carbon ferrochrome FeCr55C1000 (50 basis) costs 7800 yuan/50 basis tons. Luoyang molybdenum iron is priced at 226400 yuan/ton, down 600 yuan. 2. The latest price of stainless steel 2505 is 13235 yuan, a decrease of 70 yuan, a decrease of 0.53%; The holding volume is 175439 lots and the trading volume is 57928 lots. 3. Fujian Qingtuo Renewable Resources Yongchang Freight Yard Waste Stainless Steel Purchase Price (yuan/ton): 1) 304 new material, laser plate: 9750304 new punching plate, thick plate tube: 9450304 industrial material, plate tube 9150304 oil punch core 8900-9100; 2) 316 new material, laser plate 17500316 industrial material, plate tube 17200; 3) 2205 old material 16700, 5 new material 17400; 2507 old material 18800, new material 20500; 2520 old material 20500, new material 23300. Delivery location: Binhai 1st Road, Longwan District, Wenzhou City (including tax invoice, additional tax point) 2、 Wuxi stainless steel coil reference price 1. Taiyuan Iron and Steel Hot Rolling Guide Price: 300 hot rolling series: 14700 yuan/ton for 304/NO.1; 15400 yuan/ton for 321/NO.1; 24600 yuan/ton for 316L/NO.1. Medium plate (trimmed, thickness: 14-20mm, width: 1500mm) made of 304 material -16700 yuan/ton, 321 material: 19000 yuan/ton, 316L material: 28300 yuan/ton. 2. Dongte Hot Rolling Guide Price: S30408 material 4-12mm priced at 12700 yuan/ton, 14mm priced at 12700 yuan/ton; 12700 yuan/ton for 16mm; S31603 material costs 23200 yuan/ton for 4-12mm and 23200 yuan/ton for 14mm; 23200 yuan/ton for 16mm; 310S hot-rolled flat plate 3 and 4mm costs 32600 yuan/ton, 5-10mm costs 31800 yuan/ton, 12mm costs 32100 yuan/ton, and 14mm costs 33100 yuan/ton. 2205 hot rolling 24500 yuan/ton 3. Qingshan Hot Rolling: 304 material priced at 12700 yuan/ton; Dingxin 310S material is priced at 31800 yuan/ton for 3mm, 31900 yuan/ton for 4mm, and 31700 yuan/ton for 5-10mm. 4. Zhangpu guide price: 12900 yuan/ton for 304 material, 15800 yuan/ton for 321 hot rolling; 316L hot rolling costs 23500 yuan/ton. 3、 Reference price for stainless steel tube and rod 1. The February price of Qingshan round steel is ￠ 65-130. S30400 material costs 12400 yuan/ton, 316L material costs 22400 yuan/ton, TP321 material costs 15200 yuan/ton, 321 material costs 14000 yuan/ton, S22053 material costs 22950 yuan/ton, and 310S material costs 31350 yuan/ton. 2. Zhejiang Friendship New Material Continuous Casting Billet 1) The price of 304 material is 12250 yuan/ton for ￠ 160-280, 12350 yuan/ton for ￠ 300-360, and 12400 yuan/ton for ￠ 65-130. 2) 22100 yuan/ton for 316L material ￠ 160-260, 22400 yuan/ton for ￠ 65-130; 22200 yuan/ton for ￠ 300-360. 3) 2205 material ￠ 160-360 is priced at 22750 yuan/ton, and ￠ 65-105 is priced at 23350 yuan/ton; 4) 28150 yuan/ton for 2507 material ￠ 160-360, 29950 yuan/ton for ￠ 65-105; 5) 310S material costs 31200 yuan/ton for ￠ 160-360 and 31300 yuan/ton for ￠ 65-130. 6) 16800 yuan/ton for 347H ￠ 160-360. 904L material ￠ 160-360, priced at 57100 yuan/ton. 3. 【 Yongxing Bar Material ￠ 65-130 】 304 material costs 15500 yuan/ton, TP321 material costs 17900 yuan/ton, 316L material costs 26800 yuan/ton, 316LGB material costs 29600 yuan/ton, and S22053 material costs 28300 yuan/ton. 4. 【 Fukai Market Price 】: 1) 2205 (F60) material ￠ 150-300 round steel 24600 yuan/ton (negotiable); 65-130 round steel 24800 yuan/ton (negotiable); 2) 32000 yuan/ton for 310S material ￠ 150-300, 32500 yuan/ton for ￠ 65-130; 26000 yuan/ton for 309S material ￠ 65-130; 3) S32750 (F53) material ￠ 150-300 round steel 30500 yuan/ton; 65-130 round steel costs 33500 yuan/ton. S32760 (F55) material ￠ 65-130 round steel 37000 yuan/ton. 4) 316L ￠ 65-130 round steel at 25200 yuan/ton (negotiable); 316Ti ￠ 65-130 round steel 28100 yuan/ton; National standard 316L ￠ 65-130 round steel 31500 yuan/ton; German standard 316 material ￠ 65-130 round steel 28700 yuan/ton; 317L ￠ 65-130 round steel 34700 yuan/ton; 5) 18000 yuan/ton for 321H material ￠ 65-130; 20200 yuan/ton for 347H material ￠ 65-130; 6) NO7718 ￠ 200-250 round steel 176000 yuan/ton; 65-130 round steel 178000 yuan/ton; 7) NO8810 ￠ 200-250 round steel 68500 yuan/ton; 65-130 round steel costs 70500 yuan/ton. 8) NO8926/1.4529 material: ￠ 200-250 round steel 89000 yuan/ton, ￠ 65-130 round steel 77000 yuan/ton,; 9) NO8825 material: ￠ 200-250 round steel 97000 yuan/ton, ￠ 65-130 round steel 100000 yuan/ton; 10) NO8028 ￠ 200-250 round steel 87000 yuan/ton, ￠ 65-130 round steel 88000 yuan/ton; 11) NO8120 ￠ 200-250 round steel 83500 yuan/ton, ￠ 65-130 round steel 87000 yuan/ton; 12) 630 material (17-4) ￠ 150-300 round steel 15900 yuan/ton, ￠ 65-130 round steel 15900 yuan/ton; 631 material (17-7) ￠￠ 65-130 round steel 18600 yuan/ton; 632 material (15-7Mo) ￠ 65-130 round steel 29300 yuan/ton; 13) 188000 yuan/ton for NO6625 material ￠ 200-250; 65-130 round steel at 192000 yuan/ton; 14) 119000 yuan/ton for NO6601 material ￠ 200-250; 120000 yuan/ton for ￠ 65-130. 15) 136000 yuan/ton for NO6600 material ￠ 200-250; 138000 yuan/ton for ￠ 65-130. 16) 205000 yuan/ton for NO10276 ￠ 200-250; 65-130 round steel priced at 209000 yuan/ton; 17) XM-19 ￠ 65-130 round steel, priced at 34300 yuan/ton; 18) S31254 material ￠ 65-130 round steel 61000 yuan/ton. 19) 904L material ￠ 65-130 round steel, priced at 61500 yuan/ton. 20) XM-19 material ￠ 65-130 round steel costs 34800 yuan/ton, 15-5PH (XM-12) material ￠ 65-130 round steel costs 18300 yuan/ton. 21) 157000 yuan/ton for NO3030 material ￠ 200-250; Round steel of ￠ 65-130 is priced at 160000 yuan/ton. 155000 yuan/ton for NO4400 material ￠ 200-250; 22) 146000 yuan/ton for NO4400 material ￠ 200-250; 65-130 round steel costs 148000 yuan/ton. 23) 1.4460 material ￠ 65-130 round steel 23500 yuan/ton. 24) Wuxi Puheng forged round 304L material costs 14200 yuan/ton for ￠ 140-250 and 15500 yuan/ton for ￠ 260-400; 316L material costs 24700 yuan/ton for sizes 140-250 and 24900 yuan/ton for sizes 260-400. 5. Zhejiang Benji Pipe Reference Price Stainless steel seamless tube 30408 material, specification 25 * 2 * 6000, cold drawn tube acid washed and weighed delivery -25.1 yuan/kg; Stainless steel seamless tube S31603 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -37.5 yuan/kg; Stainless steel seamless tube S32168 material, specification 25 * 2 * 6000 cold drawn tube acid washed and weighed delivery -29.2 yuan/kg; Stainless steel welded pipe made of 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -19 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813 * 4-6 acid washed weighing delivery -31.4 yuan/kg; Stainless steel welded pipe 32168 material, specification 219-813 * 4-6 acid washed weighing delivery -25.3 yuan/kg. 4、 Statistical data: According to Mysteel research: On February 20, 2025, the social inventory of 89 caliber stainless steel warehouses in the mainstream market nationwide was 1068458 tons, a decrease of 3467 tons or 0.32% compared to the previous week. Among them: The total inventory of cold-rolled stainless steel was 670679 tons, an increase of 273 tons or 0.04% compared to last week; The total inventory of hot-rolled stainless steel is 397779 tons, a decrease of 3740 tons or 0.93% compared to last week; The total inventory of the 200 series is 181325 tons, a decrease of 4998 tons or 2.68% compared to last week; The total inventory of 300 series is 709883 tons, an increase of 252 tons or 0.04% compared to last week; The total inventory of 400 series is 177250 tons, an increase of 1279 tons or 0.73% compared to last week. Wuxi 50 warehouse has a caliber inventory of 656172 tons, an increase of 9288 tons or 1.44% compared to last week; The caliber inventory of Warehouse 28 in Foshan is 319838 tons, a decrease of 9416 tons or 2.86% compared to last week; The caliber inventory of warehouses in Zibo, Jieyang, Shenyang, and Xian is 92448 tons, a decrease of 3339 tons or 3.49% compared to last week. 5、 Market analysis The sudden incident at a nickel iron plant in Indonesia has affected production, and the situation of excess nickel iron has improved to some extent. After a change in management, the Indonesian company was unable to purchase nickel ore in a timely manner due to other reasons, which greatly affected the production of nickel iron. According to Mysteels research and statistics, after reducing production by 30% in January, the companys capacity utilization rate in February was only 30%, which is expected to affect nickel iron production by about 10000 metal tons per month, and the problem cannot be properly resolved in the short term. On the supply side, there are problems with the supply of nickel ore in Indonesia, coupled with a sudden accident at a large smelter, which has affected production. It is expected that the nickel iron reflux level will be 94000 metal tons in February. Years ago, steel mills reduced production for maintenance, resulting in a severe surplus of nickel iron. In February, there was a significant decrease in nickel iron production, and the excess level of nickel iron narrowed, with an expected surplus of 10000 tons of metal. The nightmare of the stainless steel market in 2024 continues to haunt the passion for stainless steel in 2025, with insufficient demand, unsatisfactory actual transactions, rising market inventories, and a weak market atmosphere that still suppresses market expansion. Prices are severely oversold, coupled with the growth rate of steel mills production. Although the market stumbled upwards a few days ago, it eventually fell back to reality. If the start of real estate/infrastructure projects is delayed or export orders weaken in the later stage, prices may not be optimistic.

Zhejiang Benji Stainless Steel Co., Ltd.,