Core Viewpoint - The stainless steel market is experiencing stable prices with a slight increase in futures, but overall demand remains weak and inventory depletion is slow [3] Pricing - As of July 8, the price of 304 cold-rolled stainless steel in Wuxi is 12,700 yuan/ton, and in Foshan is 12,650 yuan/ton, both unchanged from the previous day [1] - The nickel iron price is reported at 910-920 yuan/nickel (including tax), with significant pressure on profits for steel mills [3] Raw Materials - Philippine 1.3% nickel ore is trading at FOB 36-37, with shipping efficiency hindered by rainy weather [1] - The domestic benchmark price for Indonesian nickel ore is expected to decrease by 0.5-0.8 USD, with domestic premiums expected to drop by 2 USD to +24-25 [1] Supply - In July, the estimated crude steel output from 43 domestic stainless steel mills is 3.2531 million tons, a month-on-month decrease of 2.87% and a year-on-year decrease of 1.67% [1] - The output for the 300 series is estimated at 1.7133 million tons, with a month-on-month decrease of 3.8% but a year-on-year increase of 4.7% [1] Inventory - As of July 4, social inventory for the 300 series in Wuxi and Foshan is 507,500 tons, a week-on-week decrease of 25,200 tons [2] - On July 8, stainless steel futures inventory is reported at 111,410 tons, a week-on-week decrease of 546 tons [2] Market Dynamics - The overall demand in the market is weak, with manufacturing orders recovering slowly due to continuous rainy and high-temperature weather [3] - The psychological price gap between supply and demand continues to widen, with steel mills increasing pressure on raw material prices [3]
不锈钢:盘面小幅提振 基本面未有明显变动
Jin Tou Wang·2025-07-09 02:08