The United States and Vietnam have increased taxes, and the export of stainless steel products may be suppressed.-Zhejiang Benji Stainless Steel Co., Ltd

First, the raw material report: 1. Nickel: On April 16th, the latest price of nickel in London was $15,683, up by $125 or 0.80%; The latest price of Shanghai Nickel 2505 is 125,690 yuan, up by 900 yuan, or 0.72%; Shanghai high carbon ferrochromium FeCr55C1000(50 basis) 7900 yuan /50 basis tons. Luoyang ferromolybdenum 204,100 yuan/ton. 2. The latest price of stainless steel 2506 is 12,845 yuan, down by 0.04% in 5 yuan; The position was 132,829 lots and the turnover was 55,559 lots. 3, Fujian Qingtuo renewable resources Yongchang freight yard waste stainless steel purchase price (yuan/ton): 1) 304 new material and laser plate: 9900 yuan/ton, 304 new punching plate and thick plate tube: 9700 yuan/ton, 304 industrial material and plate tube: 9400 yuan/ton, and 304 oil punch core: 9000 yuan/ton; 2), 316 new material, laser plate, edge wire 17400, 316 industrial material, plate tube 17200; 3), 2205 black material 16600, white material 17300; 2507 black material 18500, white material 21000; 2520 black material 215800, white material 23000. Delivery place: A113, No.15 Road, Binhai No.1 Road, Longwan District, Wenzhou City (including tax invoicing and additional tax points) Second, Wuxi stainless steel coil reference price 1, TISCO hot rolling guide price: 300 hot rolling series: 15,200 yuan/ton for 304/NO.1; 15,800 yuan/ton of 321/ NO.1; 24,700 yuan/ton for 316L/NO.1 Medium plate (trimmed, thickness: 14-20mm, width: 1500mm)304 material-16,900 yuan/ton, 321 material 19,000 yuan/ton, 316L material 28,300 yuan/ton. 2. Guide price of Dongte hot rolling: S30408 12,900 yuan/ton made of 4-12mm and 12,900 yuan/ton made of 14mm; 12,900 yuan/ton for 16mm; S31603 22,950 yuan/ton made of 4-12mm and 22,950 yuan/ton made of 14mm; 16mm 22950 yuan/ton; 32500 yuan/ton for 3mm, 32200 yuan/ton for 4-12mm and 32900 yuan/ton for 14mm hot rolled flat plate. 2205 hot rolling 24000 yuan/ton 3. Qingshan hot rolling: 304 material is 12,700 yuan/ton; Dingxin 310S is made of 32,300 yuan/ton of 3mm, 32,000 yuan/ton of 4mm and 32,000 yuan/ton of 5mm. 4. Zhang Pu guide price: 13,000 yuan/ton for 304 material and 15,600 yuan/ton for 321 hot rolling; 316L hot rolling 23400 yuan/ton. III. Reference price of stainless steel tubes and rods 1. [The price of Qingshan round steel is 65-130 in April] S30400 material is 12,500 yuan/ton, 316L material is 22,400 yuan/ton, TP321 material is 15,630 yuan/ton, 321 material is 14,430 yuan/ton, and S22053 material is 22,900 yuan/ton, 310S s. 2. 【 Zhejiang Friendship New Material Continuous Casting Slab 】 1) 17,000 yuan/ton of 347H material (160-360); 2) 23,000 yuan/ton for 2205, 160-360 and 23,600 yuan/ton for 65-105; 3) 28,400 yuan/ton for 2507, 160-360 and 30,200 yuan/ton for 65-105; 4) 31,400 yuan/ton of 32,760 material (160-360) 5) 31800 yuan/ton for 310S material ￠160-360, and 31900 yuan/ton for 65-130. 6) 57,600 yuan/ton of 904L material (160-360). 3. 【 Yongxing Bar 65-130 】 The material of 304 is 16,000 yuan/ton, the material of TP321 is 18,400 yuan/ton, the material of 316L is 27,000 yuan/ton, the material of 316LGB is 29,800 yuan/ton, and the material of S22053 is 28,500 yuan/ton. 4. [Fukai Market Price]: 1), 2205(F60) material ￠150-300 round steel 24600 yuan/ton (discussion); 65-130 round steel 24,800 yuan/ton (by electricity); 2) 32,500 yuan/ton for 310S material (150-300) and 33,500 yuan/ton for 65-130; 26,000 yuan/ton of 309S material ~ 65-130; 3), S32750(F53) material ￠150-300 round steel 30200 yuan/ton; 65-130 round steel 33300 yuan/ton. S32760(F55) material ￠65-130 round steel 37000 yuan/ton. 4), 316l ~ 65-130 round steel 25,200 yuan/ton (by electricity); 316ti ~ 65-130 round steel 28,100 yuan/ton; National standard 316l ~ 65-130 round steel 31500 yuan/ton; German standard 316 material-65-130 round steel 28,700 yuan/ton; 317L ~ 65-130 round steel 34700 yuan/ton; 5) 18,000 yuan/ton of 321H material (65-130); 20200 yuan/ton of 347H material ~ 65-130; 6), No.7718 ~ 200-250 round steel 179000 yuan/ton; 65-130 round steel 180,000 yuan/ton; 7), No.8810 ~ 200-250 round steel 69500 yuan/ton; 65-130 round steel 70500 yuan/ton. 8), NO8926/1.4529 material ￠200-250 round steel 90000 yuan/ton, ￠65-130 round steel 78000 yuan/ton; 9) NO8825 material: 97,000 yuan/ton for 200-250 round steel and 100,000 yuan/ton for 65-130 round steel; 10), No.8028 ~ 200-250 round steel 87000 yuan/ton, ~ 65-130 round steel 88000 yuan/ton; 11), No.8120 ~ 200-250 round steel 86000 yuan/ton, ~ 65 ~ 130 round steel 90000 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 19,000 yuan/ton; 632 material (15-7mo) ~ 65-130 round steel 29,300 yuan/ton; 13) 195,000 yuan/ton of NO6625 material (200-250); 65-130 round steel 190,000 yuan/ton; 14) 119,000 yuan/ton of NO6601 material (200-250); 120,000 yuan/ton for 65-130. 15) 137,000 yuan/ton of NO6600 material (200-250); 139,000 yuan/ton for 65-130. 16) 208,000 yuan/ton for NO10276￠200-250-250; 65-130 round steel 210,000 yuan/ton; 17), XM-19 ~ 65-130 round steel 34300 yuan/ton; 18), S31254 material-65-130 round steel 61000 yuan/ton. 19), 904L material ￠65-130 round steel 62000 yuan/ton. 20), XM-19 material ￠65-130 round steel 35300 yuan/ton, 15-5PH(XM-12) material ￠65-130 round steel 18600 yuan/ton. 21) 159,000 yuan/ton of NO3030 material (200-250); 65-130 round steel 161000 yuan/ton. 155,000 yuan/ton of NO4400 material ~ 200-250; 22) 147,000 yuan/ton of NO4400 material (200-250); 65-130 round steel 149,000 yuan/ton. 23), 1.4460 material ￠65-130 round steel 23800 yuan/ton. 24) The material of Wuxi Puheng forging round 304L is 15,100 yuan/ton for 140-250 and 16,400 yuan/ton for 260-400; 25,200 yuan/ton for 316L material (140-250) and 25,400 yuan/ton for 260-400. 5. 【 Zhejiang Benji Pipe Reference Price 】 Stainless steel seamless pipe 30408 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-25.1 yuan/kg; Stainless steel seamless pipe S31603 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-37.3 yuan/kg; Stainless steel seamless pipe S32168 material, specification 25*2*6000 cold-drawn pipe pickling weighing delivery-29.4 yuan/kg; Stainless steel welded pipe 30408 material, specification 219-813*4-6 pickling and weighing delivery-19.4 yuan/kg; Stainless steel welded pipe S31603 material, specification 219-813*4-6 pickling and weighing delivery-31.5 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 April 10th, 2025, the social stock of stainless steel 89 warehouse in the national mainstream market was 1,084,431 tons, which was 3,111 tons less than last week, with a decrease of 0.29%, including: The total inventory of cold-rolled stainless steel was 702,352 tons, an increase of 4,125 tons or 0.59% over last week. The total inventory of hot-rolled stainless steel was 382,079 tons, a decrease of 7,236 tons or 1.86% compared with last week. The total inventory of 200 series was 183,188 tons, an increase of 5,133 tons or 2.88% over last week. The total inventory of 300 series is 730,498 tons, which is 2,078 tons less than last week, a decrease of 0.28%; The total inventory of 400 series is 170,745 tons, a decrease of 6,166 tons or 3.49% compared with last week. The caliber inventory of Wuxi 50 warehouse is 653,539 tons, which is 4,818 tons less than last week, a decrease of 0.73%; The caliber inventory of Foshan 28 warehouse is 343,106 tons, an increase of 3,165 tons over last week, with an increase of 0.93%; 11 warehouses in Zibo, Jieyang, Shenyang and Xi an have a caliber inventory of 87,786 tons, a decrease of 1,458 tons or 1.63% compared with last week. V. Market analysis Jakarta-Indonesias Ministry of Energy and Mineral Resources (ESDM) will hold talks with nickel entrepreneurs to discuss the adjustment of mineral and coal royalty rates. The move is a response to entrepreneurs opposition to the adjustment of nickel mine royalties. According to the government plan, the new rate was originally scheduled to take effect in the second week of April. The rate adjustment involves a variety of minerals such as coal, nickel, copper, gold, silver and tin, and the increase is expected to be between 1% and 3%, and a floating rate mechanism will be implemented according to the fluctuation of international commodity prices. The government said the move was aimed at increasing the income of non-tax countries (PNBP). Bahlil Lahadalia, Minister of Energy and Mines, previously said that the new rate will take effect in the second week of April 2025. The revision of relevant government regulations has been completed, including the Regulation on Income Types and Rates of Non-tax Countries of the Ministry of Energy and Mines No.26 of 2022 and the Regulation on Income Treatment of Tax and Non-tax Countries of the Coal Industry No.15 of 2022. However, entrepreneurs in the nickel industry collectively expressed their opposition and asked the government to suspend the implementation. Meidy Katrin Lengkey, secretary general of Indonesia Nickel Association, pointed out that the current Indonesian royalty has reached the highest level in the world (10%), and if it is raised to 14%-19%, it will far exceed the average rate of 2%-7% in other nickel producing countries. Meidy put forward three evaluation factors: the global market demand for Indonesian nickel products, the comparison of Indonesian mining costs with international counterparts, and the stability of investment policy environment. She warned that although the rate adjustment is not a policy repetition, it will significantly increase the burden on mining enterprises and may affect investor confidence. Indonesias PNBP tax increase policy has landed, and the macro pessimism has faded. The nickel price has rebounded to the previous shock range. It is expected to maintain a strong shock trend in the short term, and pay attention to prevent the risks brought by repeated macro emotions in the later period; On April 1, 2025, the Ministry of Industry and Trade of Viet Nam issued AnnouncementNo. 914/QD-BCT, which made a preliminary anti-dumping ruling on the coated carbon and alloy steel coils originating in China and South Korea, and initially ruled that temporary anti-dumping duties should be imposed on the products involved, of which China was 0-37.13% and South Korea was 0-15.67%. See the attached table for the tax rates. The measures shall take effect 15 days after the date of announcement and shall be valid for 120 days. The Vietnamese tax codes of the products involved are 7210.41.11, 7210.41.12, 7210.41.19, 7210.49.11, 7210.49.14, 7210.49.15, 7210.49.16 and 7210.49.16. 7210.61.12、7210.61.19、7210.69.11、7210.69.19、7210.90.10、7210.90.90、7212.30.11、7212.30.12、7212.30.13、7212.30.14、7212.30.19、7212.50.14、7212.50.19、 7212.50.23, 7212.50.24, 7212.50.29, 7212.50.93, 7212.50.94, 7212.50.99, 7212.60.11, 7212. The United States and Vietnam have increased taxes, and the export of stainless steel products may be suppressed. Indonesia has increased taxes at the mine end, and the cost has risen. The long-short game is mainly based on wait and see, and the inventory changes are concerned in the later period.

Zhejiang Benji Stainless Steel Co., Ltd.,