Stainless Steel Industry Update
📈 On July 17, 2024, the stainless steel futures contract 2409 fell by 115 to 13,815 yuan/ton, with a spot-futures price difference of 305. The stainless steel futures contract 2409 saw a decrease of 115 to 13,815 yuan/ton, with an increase in positions by 13,799 to 161,796, and a volume of 158,267 trades.
📊 In the spot market, the 2.0mm rough edge of the Wuxi 304 cold-rolled Hongwang is reported to be around 14,070 yuan/ton (converted to a trimmed edge of about 14,120), with the current stainless steel spot-futures price difference at 305.
📉 In the Foshan market, the stainless steel futures market fell below the 13,900 mark in the morning, then bounced back and hovered around the mark, with the market showing a green trend. The 304 cold-rolled agents in the spot market remained flat, while some traders saw a slight decline of 30-50. The market prices showed some weakness, but some still maintained a high position to watch, with the overall fluctuation range limited. Prices and transactions continued to be stagnant, and the atmosphere was quiet. The 304 hot-rolled narrow strip, which rose yesterday afternoon, fell back by 30-50 today, and there was still a low price refresh in the afternoon.
🏭 In the Wuxi market, in terms of stainless steel spot, the main quotation for the private 304 cold-rolled four-foot rough base in the Wuxi area was 13,650 yuan/ton, and the private hot-rolled price was 13,400 yuan/ton, both unchanged from the previous day. The night market operated with fluctuations, with overseas inflation falling and non-ferrous metals touching the bottom and rebounding, with a significant increase in nickel prices at the end of the day; the terminal's wait-and-see sentiment was relatively strong, waiting for the meeting to end, and the market's rigid demand was mainly for purchase, with traders quoting mostly stable in the morning.
🏗️ Recently, the 2.0×1535mm specification thin plate of Taigang Xinhai was successfully rolled in one go, marking the thin specification limit of the dual furnace rolling mill tuning.
🏭 The stainless steel new material industry cluster in Fuan City is planned to be determined as the characteristic industry cluster of small and medium-sized enterprises in Fujian Province by the Fujian Provincial Department of Industry and Information Technology. The list is being publicized from July 16 to July 22, 2024.
🏗️ The 1450mm rolling production line of the Jing'an stainless steel rolling and pickling project in Naiman Banner, Inner Mongolia, is under construction and is expected to be ready for production in August 2025.
🏭 On July 16, the Wencheng Branch of the Wenzhou Municipal Ecological Environment Bureau accepted the environmental impact report form of the high-end stainless steel pipe project of Zhejiang Zhongcheng Technology Co., Ltd. and announced it to the public, with the announcement period from July 16 to July 25, 2024 (7 working days).
🏭 The first batch of key equipment for the production line of the kitchen and bathroom industry base project in the modern equipment manufacturing industry park of Yangquan City, Shanxi, has begun to be installed. The project's main body company has fully started the internal renovation work of the standard factory building.
🏭 The second phase project of Bodeman Technology in Xiaoling Town, Zhashui County, Shaanxi, has been basically completed. The annual investment has been completed by 53 million yuan, and all equipment has been installed and debugged, entering the trial production. The project mainly produces various stainless steel products, with an annual production of 150,000 square meters of stainless steel products and an annual output value of 200 million yuan.
📉 Jinchuan Company's electrolytic nickel quotation was reduced by 900 on July 17. The quotation is as follows: Shanghai electrolytic nickel (plate) 134,200 yuan/ton; barrel small block 135,400 yuan/ton; the above quotations were reduced by 900 compared to the prices on July 16.
📉 Vale's nickel production in the second quarter was 27,900 tons, a decrease of 24% year-on-year, mainly due to the implementation of the planned maintenance and repair strategy in the nickel processing plant.
🏭 Luoyang Molybdenum Industry recently developed the "Comprehensive Recovery Process Research and Industrialization of Low-grade Iron Associated with Molybdenum Tailings". The results have been evaluated and found to be advanced and innovative, with the overall technical level reaching the international advanced level, and the "magnetic - grinding - magnetic" combined process technology reaching the international leading level.
🏭 On July 16, the Shanghai Futures Exchange announced a draft contract for lead, nickel, tin, and alumina futures options, and is now soliciting opinions from the public.