Core Insights - As of August 6, the price of 304 cold-rolled stainless steel in Wuxi is 13,000 yuan/ton, remaining stable day-on-day, while in Foshan it is 12,950 yuan/ton, also unchanged [1] - The nickel ore market is currently stable, with mainstream transaction prices for 1.3% nickel ore around CIF 42 and for 1.4% nickel ore around CIF 50 [1] - Domestic stainless steel production is expected to decrease, with July's output from 43 stainless steel plants estimated at 3.2531 million tons, a month-on-month decline of 2.87% and a year-on-year decline of 1.67% [1] Price Trends - The base price has increased by 25 yuan/ton to 235 yuan/ton [1] - Nickel iron prices have risen to 930-940 yuan/nickel, while ferrochrome prices remain weak and stable with slight room for adjustment [1] - The stainless steel futures inventory as of August 6 is 102,803 tons, a week-on-week decrease of 431 tons [1] Market Dynamics - Social inventory of 300 series stainless steel in Wuxi and Foshan is 514,800 tons, with a week-on-week decrease of 1,100 tons [1] - The market is currently experiencing weak demand, with purchases primarily driven by essential stock replenishment [1] - The overall market sentiment is influenced by macroeconomic factors, including weak U.S. data raising expectations for interest rate cuts [1] Production Insights - The production of 300 series stainless steel in July was 1.7133 million tons, a month-on-month decrease of 3.8% but a year-on-year increase of 4.7% [1] - The expected increase in the domestic nickel ore benchmark price in Indonesia is projected to rise by 0.2 - 0.3 USD in August [1] - The short-term supply pressure is unlikely to ease significantly due to insufficient production cuts despite maintenance at stainless steel plants [1] Future Outlook - The market is expected to remain in a narrow range, with the main operational range referenced at 12,600 - 13,200 yuan/ton [1] - The short-term view indicates a range-bound movement driven by policy and macroeconomic sentiment [1]