Market Overview - The stainless steel market is experiencing a stable price environment, with Wuxi and Foshan 304 cold-rolled prices holding steady at 13,050 CNY/ton and 13,100 CNY/ton respectively as of May 6 [1] - The overall sentiment in the market is cautious due to weak demand and inventory pressures, leading to limited price adjustments despite improved purchasing sentiment from major steel mills [2] Raw Material Insights - Nickel ore sales from Philippine mines have been robust, with 1.3% nickel ore prices ranging from 35-37 USD/ton FOB, while 1.4% nickel ore CIF prices exceed 50 USD/ton [1] - Indonesia's new tax policy has increased the nickel metal tax by 1.5%, contributing to rising comprehensive costs for nickel ore [1] - Nickel pig iron prices are under pressure, with recent transactions at 940 CNY/nickel (including tax) as steel mills exert more pricing pressure [2] Supply and Production Data - In April, 43 domestic stainless steel mills are expected to produce 3.4845 million tons of crude steel, a month-on-month increase of 0.45% and a year-on-year increase of 8.18% [1] - The production of 300 series stainless steel remains stable at 1.9075 million tons, with a year-on-year increase of 13.3% [1] Inventory Levels - Social inventory levels have remained stable, with a slight increase in 300 series social inventory to 549,300 tons as of May 2 [1] - Stainless steel futures inventory decreased to 163,992 tons as of May 6, down by 6,973 tons week-on-week [1] Demand Dynamics - Domestic demand shows some resilience, albeit slowly recovering, with household appliance consumption providing some support [2] - Export orders have faced challenges due to tariff impacts, leading to a weaker purchasing atmosphere in the downstream market [2] Price Outlook - The market is expected to experience weak fluctuations, with the main trading range projected between 12,600 and 13,000 CNY [3]
不锈钢：盘面维持震荡 成本需求博弈持续
Jin Tou Wang·2025-05-07 02:10