{ Stainless Steel Futures }

  • 304 Afternoon Slight Decline, 201 Continues to Fall, Today's Plate and Coil Market Down 20-80

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    Stainless Steel Market Update

    Date: July 17, 2024

    The A-share market closed with two down and one up index, mainly fluctuating throughout the day.

    Stainless Steel Futures and Spot Market

    The futures market for stainless steel showed weakness, falling below the 13,900 mark in the morning and recovering slightly before falling again. In the afternoon, there was a slight rebound followed by another drop below the 13,800 mark, but it rebounded back above the mark, still closing in the red. The spot market was mostly stable in the morning, with some discounts for transactions, but the mainstream prices remained relatively stable. In the afternoon, as the futures market dived, the market prices for Delong gradually moved closer to the 13,500 base, and some warehouse receipt resources went as low as 13,470 base.

    304 Cold Rolled Market

    In the morning, the 304 cold rolled market with Tsing Shan agents continued to follow the flat plate price, while traders saw the first wave of some flat, and some specifications fell by 30-50 yuan/ton. The market was still quiet, but some still insisted on high position observation, and the mainstream market prices were still mostly between 13,530-13,600 base.

    Afternoon saw a dive in the futures market, and the spot market prices began to fluctuate and fall. Some Delong and other resources returned to sales at the 13,500 base, and some warehouse receipt resources went as low as 13,470 base. High market prices mostly fell, and transactions remained quiet.

    304 Hot Rolled Market

    For 304 hot rolling, Tsing Shan agents kept the same price quotes, while traders of large plates and Dingxin narrow strips still mostly observed the same, and other sources fell by about 50 due to the impact of the plate, and the market's low price purchase also continued to explore and stimulate the market price to move down.

    201 Market

    For 201, hot rolling mostly kept the same price quotes, with some offering discounts of 10-30 for transactions; while cold rolling Tsing Shan agents reduced by 50 to accept orders, and market traders also fell by 20-50 to explore, J5 mostly went to 7,930-7,950 base sales, but the actual transaction part has already fallen to 7,900 base, the price is weak, and transactions are still relatively general.

    430 Market

    For 430, cold and hot rolling quotes are mostly flat, but some cold rolling resources have fallen by about 50 to facilitate transactions for delivery.

    Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
    Contact Information:
    • Website: www.metal-ae.com
    • Email: ae@americenergy.com
    • Phone: 13521210668
    • whatsapp: 13521210668
    • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

  • Ningbo Baoxin's BA Plate Order Volume Increased by 34% in the First Half of the Year; June Domestic Stainless Steel Related Import and Export Data Released

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    Stainless Steel Industry News Highlights

    Market Dynamics

    Stainless Steel Futures: The stainless steel futures contract 2409 increased by 90 to 13,850 CNY/tonne, with the current spot-futures price difference at 120.

    Foshan Market: After fluctuating, the stainless steel futures rebounded and stood above the 13,800 mark. Spot market prices for 304 cold-rolled materials showed mixed movements, with some falling 20-50 to facilitate transactions, while others slightly increased. However, trading remained quiet.

    Wuxi Market: Inquiries in the morning showed that the mainstream quoted price for 304 cold-rolled four-foot materials in the private sector was 13,500 CNY/tonne, unchanged from last Friday; the hot-rolled price was 13,350 CNY/tonne, up 50 from the previous Friday.

    Industry News

    Ningbo Baoxin's Order Growth: Ningbo Baoxin reported a 34% year-on-year increase in BA plate order volume in the first half of the year, along with growth in other product categories.

    Anti-dumping Announcement: China's Ministry of Commerce has announced the continuation of anti-dumping duties on stainless steel billets and hot-rolled coils from the EU, UK, South Korea, and Indonesia, following the expiration review investigation.

    Trial Production of Stainless Steel Heat Exchanger Tubes: A 30,000-tonne/year high-end stainless steel heat exchanger tube project, invested by Zhejiang Julong Special Material Group Co., Ltd., has entered the trial production phase.

    Export and Import Data: In June, the top 20 export regions for Chinese stainless steel accounted for 36.47 million tonnes, with India being the largest export destination. The top 5 import regions accounted for 12.46 million tonnes, with Indonesia being the largest source of imports.

    Raw Material Related

    Jinchuan Company's Nickel Price Adjustment: Jinchuan Company has adjusted its electrolytic nickel quotations downward by 1,300 CNY.

    Furnace Ignition at a High-Carbon Chromium Factory: A 18,000KVA furnace at a high-carbon chromium iron factory in Inner Mongolia has been ignited, with an expected monthly output of over 3,000 tons of high-carbon chromium iron.

    Import Data for Chrome and Nickel Iron: China's imports of chrome iron and nickel iron have shown significant increases both month-on-month and year-on-year.

    Stainless Steel Scrap Import Decrease: China's import of stainless steel scrap has decreased significantly compared to the previous month and the same period last year.

    Nickel Production Capacity in Indonesia: Zhongwei Shares has disclosed that it has built a nickel resource smelting base in Indonesia with a capacity of 200,000 metal tons.

    About Americ Energy (CHINA) Co., Ltd.

    Americ Energy (CHINA) Co., Ltd. is a distinguished manufacturer and distributor of an extensive array of stainless steel products, tailored to meet the varied requirements of multiple industries. Their product range includes stainless steel tubes, plates, strips, and square tubes, all adhered to the highest quality standards.

    Contact Information:

  • Stainless Steel Finally Has a Chance to Catch Its Breath After a Tiring Week

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    📰 Stainless Steel Weekly Insights

    Stainless Steel Finally Has a Chance to Catch Its Breath After a Tiring Week

    The stainless steel market experienced a weak fluctuation this week, with futures prices continuing to operate weakly and breaking through the previous low. As a result, spot prices have been adjusted accordingly. Traders' efforts to promote sales through discounts have not been very effective, and the social inventory has risen again. There is an expectation of production reduction in steel mills in July, which may alleviate the pressure of future arrivals. The subsequent focus will be on the production and arrival rhythm of steel mills, as well as the stimulus intensity of domestic macroeconomic policies. It is expected that the stainless steel market will continue to fluctuate.

    The futures prices of stainless steel have been weakly fluctuating this week, with the stainless steel market continuing to decline and breaking through the previous low. The transaction volume has shrunk during the week, but the last three days of the week saw a significant increase in position holding along with the decline, indicating an increase in market divergence and a strong sentiment of low-level game playing. The center of gravity of prices continues to move down, waiting for a breakthrough in trading volume to choose a direction. The main contract of the stainless steel market closed at 13815 this week, with a weekly decline of 0.65%, and the lowest price of the week was 13670.

    Spot Market

    In the spot market, the spot price of stainless steel was slightly adjusted this week. As the futures prices continued to operate weakly, the sentiment in the spot market was also relatively low. Steel mills have reduced their list prices, and the order performance was not satisfactory, suppressing the enthusiasm for transactions. The downstream consumption demand side is still mainly cautious and purchases on demand, with a low willingness to replenish stocks.

    The price of raw materials is relatively stable, providing some support for the price of stainless steel. The production cost of steel mills is still in a state of reversal, and the steel mills have been receiving normal shipments during the week. The social inventory has started to increase again, and the pressure of market inventory has risen. There are still some traders offering discounts to sell goods, but the effect on promoting transactions is minimal.

    The current market is still in a situation of oversupply. The expectation of production reduction in steel mills in July may alleviate the supply pressure, and the market needs to pay close attention to the production plan of steel mills, the rhythm of market arrivals, and the speed of social inventory reduction.

    Weekly Average Price Comparison

    Weekly Average Price Comparison

    Weekly Average Price Comparison

    Weekly Average Price Comparison

    Weekly Average Price Comparison

    Weekly Average Price Comparison

    Futures Warehouse Receipts

    This week, the inventory of stainless steel registered warehouse receipts at the Shanghai Futures Exchange decreased by 10,170 to 187,594 tons compared to last week. This week, the warehouse receipt volume has finally been reduced, but it is still at a high level, and the speed of reduction needs to be maintained. The warehouse receipt resources bring a lot of pressure to the market inventory, and the market's ability to digest is limited, and the speed of inventory reduction is slow.

    In Summary

    In summary, this week, the price of stainless steel has been weakly operating, the price of raw materials is relatively stable, and the production profit of steel mills is still in a state of reversal.

    There is an expectation of production reduction in steel mills in July, the overall transaction atmosphere in the market is cold, the performance of the downstream consumption demand side is still weak, the effect of traders' discount promotion is not good, and the social inventory has risen again.

    The market needs to pay attention to the speed of social inventory reduction and the subsequent production and arrival rhythm of steel mills. It is expected that the stainless steel market will continue to fluctuate.

    Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

    Contact Information:

    - Website: https://www.metal-ae.com/www.metal-ae.com

    - Email: ae@americenergy.com

    - Phone: 13521210668

    - WhatsApp: 13521210668

    - Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

  • Stainless Steel Market's Main Concern is Not Anti-Dumping, But This Matter

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    🔍 Stainless Steel Market's Main Concern

    July 22nd, Foshan Market News: Today marks the beginning of the hottest season of the year, Da Shu, which is also known as the Great Heat. Perhaps due to the need for restocking on Monday, the stainless steel market also showed signs of "warming up" compared to last week. The market was restless throughout the day. In the morning, attention was drawn to the "Ministry of Commerce's continued imposition of anti-dumping duties on imported stainless steel billets from Indonesia and other countries"; in the afternoon, the hot topic was the significant drop in stainless steel futures warehouse receipts:

    📉 Significant Decrease in Stainless Steel Futures Warehouse Receipts

    According to data from the Shanghai Futures Exchange, today's stainless steel futures warehouse receipts recorded 147,747 tons, a decrease of 39,847 tons from the previous trading day, a drop of 21.24%. This is the first significant inventory reduction on a trading day within the year, which has attracted considerable attention from the industry:

    1. Voice 1: Level the market, deliver the warehouse receipts to agents, QS is the largest arbitrage company combining futures and spot trading.
    2. Voice 2: The nearly 40,000 tons of warehouse receipts reduced corresponds to last week's GJ futures September short position of about 7,000 contracts closed (holding 9,000 contracts). This position belongs to QS, indicating it is a steel mill action.
    3. Voice 3: The purpose of the significant reduction in positions by ZGGJ that day was to convert warehouse receipts into spot goods. All of Yongwang's warehouse receipts were converted into spot sales, totaling about 48,000 in East China and South China combined.
    4. Voice 4: Today, while commodity futures are falling, why is stainless steel rising instead? It is due to the reduction of short positions, indicating that steel mills do not want to deliver in September and are selling spot goods to agents.
    5. Voice 5: It is said that steel mills have instructed agents not to sell to futures and spot institutions, but the steel mills themselves are issuing warehouse receipts. After a rebate of 13550, it's about 13450 at the base.

    Micro-comment: In the evening of Foshan, the sunset is particularly beautiful, spreading across the stainless steel circle of friends.

    🌆 "Whether it's beautiful or not depends on the mood. You say such a market, the steel mill is in a good mood, so controllable. Like us, people who survive in the cracks, I feel that it is blood, the blood that the stainless steel people have shed with scars, and I don't have the mood to appreciate the beauty," said Old Iron.

    Well, whoever is weak has reason, and whoever is hurt has the final say.

    AmeriCan Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

    Contact Information: