Fujian Two Deep Processing Projects Environmental Impact Report Publicity

Fujian Two Deep Processing Projects Environmental Impact Report Publicity 🏭

Recently, the Ningde Municipal Ecology and Environment Bureau has made the approval opinions for the environmental impact report forms of Fujian Jixing Stainless Steel Deep Processing Project and Fujian Liansheng Stainless Steel Deep Processing Project public. The public notice period is from July 15, 2024, to July 19, 2024 (5 working days).

Fujian Jixing Stainless Steel Deep Processing Project 🔨

This project is located in the stainless steel deep processing industrial park in Zhouning County, Ningde City, Fujian Province. The existing project's environmental assessment was approved on January 5, 2022 (Ningzhou Environmental Assessment [2022] No. 2). Due to changes in the production process, the types of atmospheric pollutants have added ammonia, and the emissions of sulfur dioxide, nitrogen oxides, and particulate matter have increased by more than 10%, with the addition of three exhaust stacks. According to the "Pollution Impact Type Construction Project Major Change List (Trial)" (Environmental Office Environmental Assessment Letter [2020] No. 688), this change is considered a major change. The changes include: the addition of one stainless steel round steel processing production line, with the main equipment being one inclined bottom furnace, one piercing machine, and one shot blasting machine; the addition of one bright annealing production line, with the main equipment being one bright annealing furnace. After the project change, the total area of the project is 16,375.61 square meters, with a total construction area of 12,692.93 square meters, forming an annual production capacity of 10,000 tons of stainless steel round steel billets, 4,000 tons of stainless steel seamless non-standard tubes, and 1,000 tons each of stainless steel special-shaped tubes and special-shaped steel materials. The total investment of the project is 35 million yuan, of which 2.1 million yuan is for environmental protection.

Fujian Liansheng Stainless Steel Deep Processing Project 🏗️

This project is located in the stainless steel deep processing industrial park in Zhouning County, Ningde City, Fujian Province, covering a total area of 6,733.33 square meters and a total construction area of 4,097.21 square meters. The main construction includes two stainless steel seamless steel tube production lines, with an annual output of 1,200 tons. The total investment of the project is 13 million yuan, of which 1.3 million yuan is for environmental protection.

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Impact of the Transition from Old to New National Standards for Rebar on the Market in Stages

📈 Impact of the Transition from Old to New National Standards for Rebar on the Market in Stages

Mysteel News: Since the release of the new national standard for rebar on June 25, the market price has fluctuated significantly, and some steel mills have successively issued announcements for the transition of hot-rolled ribbed rebar products from old to new national standards.

As of now, according to incomplete statistics by Mysteel, most steel mills will start to implement the production of rebar according to the new national standard in August, with a few completing the transition from old to new national standard production at the end of July or the beginning of September. At the same time, some warehouses in the East China region have also issued announcements regarding the deadline for the storage of old national standard products. Against the backdrop of continuous poor performance in rigid demand and hindered storage, this has further exacerbated market participants' concerns about the elimination of old national standard rebar. Recently, the mainstream futures and spot warehouse quotations in some markets in East China have shown a significant decline. The author analyzes the impact on the current market price from multiple angles of the current transition from old to new national standards.

⏱ Ideal Time Required for the Elimination of Old National Standard Rebar Inventory in This Round

The transition from old to new national standards for rebar was announced on June 25 and will be implemented on September 25, with a three-month buffer period. According to the weekly steel data research results of Mysteel, as of now, the national rebar inventory is 7.7057 million tons. In the past years, rebar has faced seasonal inventory pressure in July, August, and September. Under the background of weak demand, market concerns have further intensified. Overall, the pressure of old national standard rebar is concentrated in the East China region.

Assumptions for the transition of new standard rebar production and the elimination of old national standard rebar inventory (ideal calculation):

Assumption 1: At the beginning of August, 1/4 of the new standard rebar production is switched, and the apparent consumption is recognized as the recent average level. After synchronous calculation, the cycle required for the elimination of old national standard rebar inventory is 13 weeks.

Assumption 2: At the beginning of August, 1/3 of the new standard rebar production is switched, and the apparent consumption is recognized as the recent average level. After synchronous calculation, the cycle required for the elimination of old national standard rebar inventory is 10 weeks.

Assumption 3: At the beginning of August, 1/2 of the new standard rebar production is switched, and the apparent consumption is recognized as the recent average level. After synchronous calculation, the cycle required for the elimination of old national standard rebar inventory is 6 and a half weeks.

Assumption 4: At the beginning of August, 3/4 of the new standard rebar production is switched, and the apparent consumption is recognized as the recent average level. After synchronous calculation, the cycle required for the elimination of old national standard rebar inventory is 4 and a half weeks.

The above calculations only consider fewer variables, with the premise that the overall output of rebar has not changed significantly, the apparent consumption basically maintains the recent level of 2.33 million tons per week, and the market is fully committed to eliminating old national standard rebar. It can be seen that before the implementation of the new national standard for rebar, the less old national standard rebar is put into the market, that is, the earlier the steel mill switches to the implementation of the new national standard, the more conducive it is to inventory elimination. Due to the dynamic nature of the date when steel mills switch to the new national standard rebar, more than half of the steel mills have completed the transition to the new national standard in August, and the old national standard is successfully eliminated before September 25.

🔄 Disagreements on the Circulation Attributes of Old National Standard After the Implementation of New and Old National Standards

Looking back at the last adjustment of the rebar standard in 2018, there was a 9-month buffer period from the date of the new national standard release to the date of implementation, and the circulation attributes of the rebar produced before the implementation date had not changed fundamentally. The pace of elimination of old national standard rebar inventory was relatively slow, with fewer hard constraints and emotional rendering. This round of standards has changed from national recommended standards to mandatory standards, and the market has caused concerns about the circulation attributes of old national standard rebar. The current market concern has not ended, and the price still has the possibility of falling. On the one hand, the current spot merchants urgently need to replace the old national standard rebar with the new national standard rebar. On the other hand, it is necessary to accelerate the storage of old national standard resources. The demand in the short term is difficult to improve significantly, and it can only accelerate the radiation to the surrounding market by falling prices, squeezing the resource share of the surrounding market, and leading the decline in the surrounding market, which is conducive to the elimination of old national standard rebar resources.

📋 Whether the Delivery Standards for the Main Contract of Rebar Steel Have Been Adjusted

Looking back at the last transition from old to new national standards for rebar steel, the exchange issued an announcement one month before the implementation of the new standard rebar. From November 1, 2018, the old national standard rebar was not allowed to be used to make warehouse receipts for delivery. The newly registered warehouse receipts were made according to the new national standard rebar for warehouse receipt delivery, but the old national standard rebar that had been made into warehouse receipts could continue to be transferred and delivered. Based on this experience, it is inferred that the rebar steel futures contract for October 2024 will be registered according to the new national standard, and the old national standard cannot be registered for warehouse receipts, but the warehouse receipts that have been registered can be delivered, and this point has been clearly bet on the market.

At the time when the new national standard for rebar steel was promulgated, the price difference between September and October rebar widened. In mid-July, as the market's panic selling sentiment intensified, the spot price led the futures price to decline sharply, and the near-month contract fell sharply, with the September-October contract price difference reaching 184, the lowest level in recent years. It is not difficult to find that the core logic of this round of accelerated decline is the shrinkage of demand and poor expectations. Under such a background, the pressure of the transition from old to new national standards is relatively large, and the panic selling sentiment of the futures and spot warehouses that have been stored for a long time has intensified. With the announcement of the deadline for the storage of futures and spot warehouses in some markets in East China, the market sentiment has been shaken, and the price has accelerated the decline. However, the overall supply and demand structure in the north is relatively good, and the impact on prices is relatively small, leading to a further expansion of the price difference between the north and the south.

📉 The Possible Direction of the Spot Market's Supply and Demand Fundamentals at the Time of the Implementation of the New National Standard

Short-term Situation

According to the current rhythm of the steel mill's transition from old to new national standard rebar production, most will be concentrated in August. In late July, the supply pressure of old national standard rebar is not reduced, and the demand is weak in the short term. Under the condition that the circulation attributes of old national standard rebar are not clearly defined, the panic selling sentiment is still fermenting in the concentrated areas of futures and spot warehouses.

Supply Aspect

The old national standard

Industry Data Interpretation Demand for Five Major Steel Grades Increases, Supply and Inventory Decline, and Fundamental Resilience Remains

Industry Data Interpretation

Weekly Review

Supply Aspect: This week, the supply of the five major steel grades was 8.8399 million tons, a decrease of 50.2 thousand tons from the previous week, a drop of 0.6%. Among the five major steel grades, the production of rebar and hot rolled coil decreased significantly. The core driver is that due to increased losses in steel mills, some steel mills have stopped production for maintenance and have started to sell steel billets.

Inventory Aspect: This week, the total inventory of the five major steel grades was 17.5722 million tons, a decrease of 155.9 thousand tons from the previous week, a drop of 0.9%. This week, the total inventory of the five major varieties all decreased: the factory inventory decreased on a weekly basis, with the main reduction coming from rebar contributions. The social inventory also decreased on a weekly basis, with the increase also mainly coming from rebar contributions.

Consumption Aspect: This week, the weekly consumption volume of the five major varieties was 8.9958 million tons, an increase of 0.4% from the previous week; among them, the consumption of building materials increased by 0.2% month-on-month, and the consumption of plate increased by 0.5% month-on-month. This week, the apparent consumption of the five major varieties showed an increase in both building materials and plates, indicating that demand still has resilience in the off-season.

Outlook for Next Week

Currently, several steel mills have issued announcements for the replacement of new and old national standards for rebar steel. The production side may gradually implement the production of new national standards in the later period. However, due to the large inventory pressure in some areas, the market is worried about the dumping of goods by steel mills and traders, and liquidity issues may form a negative feedback on market prices, causing overall steel prices to bear pressure. In terms of the basic side, although the production of steel mills has decreased, the speed of decline is slow, and the iron water is still at a high level. It is difficult to see a significant growth point on the demand side in the later period, and the basic side still maintains a weak pattern. However, the important meeting is about to end, and the market may be greatly disturbed by the news, and it is necessary to pay attention to whether there are any unexpected events in the near future. In general, **in the period when the basic side is still weak and the new and old national standards are alternating, the price is under pressure to rise sharply, but it is still necessary to pay attention to whether the important meeting releases unexpected favorable policies.**

Basic Side Interpretation

According to Mysteel statistics, in terms of rebar, the output of rebar steel continued to decrease this week, with a total reduction of 37.5 thousand tons, and both long and short enterprises have reduced their output. Looking at the regions, except for the southwest and north China, the output in other regions is decreasing. Among them, the output in the east China region decreased the most, mainly because some steel mills in Jiangsu stopped the rolling line and sold steel billets; in addition, Guangdong and Heilongjiang also had a large reduction in output due to the shutdown of electric furnaces and the adjustment of production varieties. In terms of wire and coil, the output of this week increased from a decrease to an increase, with a total increase of 15.9 thousand tons. Looking at the regions, the increase is mainly concentrated in the northeast region, where Heilongjiang increased the supply by 21.8 thousand tons due to the resumption of production line repairs, and the output fluctuation in other provinces is less than 10 thousand tons, basically the same as last week. In terms of hot rolled coil, the output of this week decreased, and the actual output of the steel mill was 3.2702 million tons, a decrease of 44.6 thousand tons from the previous week; the main reduction was in the north China region, mainly due to the production line maintenance of SG.

According to Mysteel statistics, in terms of rebar, the factory inventory continued to decrease this week, but the decline narrowed, with a total reduction of 20.1 thousand tons, and the factory inventory in east China, south China, and southwest all decreased. With the recovery of demand in east China and the south, the factory inventory in Fujian, Yunnan, Guangxi, Jiangsu, Guangdong, and other provinces all decreased, and the consumption of building materials in the northern region weakened, and the factory inventory in north China and northeast China increased slightly. In terms of wire and coil, the factory inventory this week changed from an increase to a decrease, with a total reduction of 32 thousand tons. Looking at the regions, except for the northeast and northwest, the inventory in other regions has decreased to varying degrees, with the largest reduction in north China, where Shanxi and Guizhou combined to reduce the inventory by 29 thousand tons, while Sichuan has high temperatures and rainy weather, the shipment is not smooth, and the inventory increased by 12.5 thousand tons, and the inventory in other provinces fluctuates slightly. In terms of hot rolled coil, the factory inventory decreased slightly from last week, and the steel mill basically shipped normally.

According to Mysteel statistics, in terms of building materials, taking rebar steel as an example, from the three major regions, east China and the south decreased by 63.2 thousand tons and 23.3 thousand tons respectively on a weekly basis, while the north increased by 26.8 thousand tons on a weekly basis; from the seven major regions, except for central China, north China, and northeast, other regions all showed a state of reducing inventory. In terms of hot rolled coil, from the three major regions, east China and the south increased by 12.8 thousand tons and 1.3 thousand tons respectively on a weekly basis, while the south decreased by 22.7 thousand tons; from the seven major regions, except for east China and south China, other regions all showed a state of reducing inventory. According to Mysteel statistics, this week's total inventory of the five major varieties was 17.5723 million tons, a decrease of 155.8 thousand tons from the previous week, a drop of 0.9%. Among them, the inventory of building materials decreased by 138.8 thousand tons on a weekly basis, a drop of 1.5%; the inventory of plates decreased by 1.7 thousand tons on a weekly basis, a drop of 0.2%. The total inventory of the previous period was 17.7281 million tons, a decrease of 0.4% from the previous week. Among them, the inventory of building materials decreased by 111.3 thousand tons on a weekly basis, a drop of 1.19%; the inventory of plates increased by 39.5 thousand tons on a weekly basis, an increase of 0.47%.

Jiangsu Yongjin Successfully Applies for a New Patent

On July 16, 2024, Jiangsu Yongjin Metal Technology Co., Ltd. successfully applied for a patent titled "A Stainless Steel Bright Annealing Furnace with a Circulating Cooling Function". The application publication number is CN118345238A, and the application date is June 18, 2024.

This invention discloses a stainless steel bright annealing furnace with a circulating cooling function, which belongs to the technical field of stainless steel bright annealing furnaces. It includes a feeding device, a heating device, a slow cooling device, a rapid cooling device, a turning device, a descending channel, and a sealed discharge device. The invention adjusts the motor to drive the quick movement of the card, achieving the purpose of automatically adjusting the cooling area according to the different widths of stainless steel belts; through the telescopic device, it achieves the purpose of self-regulation of the cooling speed of the slow cooling device; by using the motor to adjust the cooling area, it can also drive the swirl fan to rotate, the swirl fan drives the cooling liquid to rotate, preventing uneven cooling. Through the dual circulation of the slow cooling device and the rapid cooling device, the utilization rate of protective gas and cooling liquid is improved. The slow cooling device adjusts the cooling area according to the stainless steel belt while simultaneously adjusting the blowing angle of the guide vanes; through the cooperation of the hot air cooler and the circulating air intake device, the protective gas that absorbs heat is cooled for a second time.

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

Jinchuan Group's First Half-Year Performance of 206.4 Billion Yuan

📈 In the first half of 2024, Jinchuan Group has made significant progress in overcoming challenges and maintaining stable and progressive operations. From January to June, the company achieved a total operating revenue of 206.4 billion yuan, an increase of 22.6 billion yuan year-on-year, exceeding the budgeted progress by 103%. The total tax and profit amounted to 9.9 billion yuan, with a profit of 5.909 billion yuan and tax of 3.992 billion yuan, both exceeding the expected targets.

🚀 As a leading provincial enterprise, Jinchuan Group is accelerating the construction of a modern industrial system and vigorously developing emerging industries. They play a leading role in extending, supplementing, and strengthening the industrial chain. They adhere to a dual-drive strategy of traditional and emerging industries, consolidating and expanding the traditional industrial chains of nickel, copper, and cobalt, and cultivating emerging industrial chains such as new energy power batteries. They promote innovation integration among upstream, midstream, and downstream enterprises, as well as large, medium, and small enterprises, and accelerate the transformation of resource-based enterprises into innovative enterprises. They continue to increase their investment in technological innovation, strengthen the research and development of key core technologies, and enhance their core competitiveness.

🌐 The "Stainless Steel Business Circle" is waiting for you on video platforms like Douyin, TikTok, and Kuaishou.

Extended Reading

📚 Character Stories: The legendary story of the founder of Huaxin Lihua & Jiao Tingbiao.

🌟 Cover Story: The development of the special steel business of the multinational group Taiwan Huaxin Lihua.

📚 Cover Story: The three steps of development for Dewei - dreams, innovation, and hard work.

🌟 I Endorse the Brand: Zou Huiping: Focused on stainless steel for 18 years. "Stainless Steel Business Circle" helps rust enterprises tell good stories and spread the stainless brand in the post-epidemic era!

🌟 Cover Story & Business Circle: Riding the wind and waves, Qingshan Steel Pipe builds dreams and sails far.

📚 Cover Story: The stainless steel entrepreneurship history of Dong Changlin, the founder of Jiangsu Ruiyin.

🌟 Cover Personality: Li Guibo: People-oriented, brave in breakthroughs, adding "invisible wings" to the stainless dream.

📚 Cover Story: Turning crisis into opportunity, innovating and accumulating to cast a "Pengda" future.

🌟 Top Enterprises: The four leading enterprises in the stainless steel industry have entered a period of fierce competition, attracting the attention of the entire industry. Reviewing a few thoughts on the "3·8 London Nickel Qingshan Incident". Congratulations to Qingshan Steel Pipe for being awarded the excellent supplier of Sinopec.

🌟 Beijing University of Science and Technology Stainless Steel Business Circle President Class Opening Ceremony: Vertical integration, upward growth, setting sail.

🌟 Beijing University of Science and Technology Stainless Steel Business Circle President Class Graduation Ceremony: Graduation is only a temporary farewell, looking forward to your more brilliant return.

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About Americ Energy (CHINA) Co., Ltd.

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

National Bureau of Statistics Preliminary Steel Production Figures for Various Provinces in the First Half of the Year

📊 National Bureau of Statistics: Preliminary Steel Production Figures for Various Provinces in the First Half of the Year

According to data from the National Bureau of Statistics, China's crude steel production in June 2024 was 91.617 million tons, a year-on-year increase of 0.2%; from January to June, China's crude steel production was 530.572 million tons, a decrease of 1.1% year-on-year.

Looking at the data by province and city, Hebei topped the list with a production of 113.4853 million tons from January to June 2024; Jiangsu came in second with 62.5792 million tons; Shandong was third with 38.1031 million tons.

📈 Editor's Recommendations

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Tangshan steel billet prices slightly fell, steel price growth hindered.
Rio Tinto's sales in the second quarter reached a four-year high for the same period.
Research on the implementation of new national standard rebar production by major circulating steel mill brands in the East China market.

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About Americ Energy (CHINA) Co., Ltd.

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

Nickel Iron Market's Recent Transaction Price Drops to 980 Yuan/Nickel, Squeezing Profits of Nickel Iron Producers

Nickel Iron Market Update

Since July, the nickel iron market has been quite sluggish with sporadic inquiries but no actual transactions. Suppliers are finding it difficult to negotiate a lump-sum price, mainly relying on long-term agreements. Only one public lump-sum transaction was recorded in the middle of the month, with the latest transaction landing at 980 yuan/nickel (inclusive of tax upon arrival). However, the market has not shown significant fluctuations, and the wait-and-see attitude remains, with a clear divergence in price between supply and demand.

High Nickel Ore Prices and Impact on Iron Plant Profits

Nickel ore prices from the Philippines remain high, and the domestic market for high-grade nickel ore is quite cold, with 1.4% grade ore priced at 41-42 USD/wet ton, which is not well accepted by domestic iron plants. Only low-nickel high-iron ore Ni: 0.9% can still be traded at 37 USD/wet ton.

Domestic Nickel Iron Market and Cost Reversal

Affected by downstream pressure, the domestic nickel iron market is under pressure and is weakly running. Iron plant costs are significantly reversed, and profits are hit, leading to iron plants taking measures to reduce production to cope with losses. Apart from necessary production, iron plants have a low willingness to purchase existing high-priced nickel ore raw materials. Currently, the highest spot cost of domestic RKEF nickel iron plants has reached 1027 yuan/nickel, with the lowest profit margin at -5.59%.

Indonesian Nickel Ore Supply and Factory Profits

Indonesian nickel ore supply is limited, and local factories have increased their demand for nickel ore imports to meet normal production needs. Especially the shipment volume of nickel ore from the Philippines to Indonesia has increased significantly. Although Indonesian iron plants are profitable, their profit margins are also narrowing. Currently, the highest spot cash cost of Indonesian nickel iron is close to 900 yuan/nickel, with the lowest profit margin recovering to 5.6%.

Weak Terminal Demand and Inventory Pressure

In July, stainless steel futures and spot prices remained weak, with more declines than increases. The market lacks confidence in the future and holds a bearish expectation. Stainless steel production in July has decreased. According to Mysteel statistics, the production in July is 3.2467 million tons, a decrease of 1.27% month-on-month, of which 300 series is 1.5764 million tons, a decrease of 4.64% month-on-month, and 7.19% year-on-year. In addition, affected by weakening demand, the de-stocking speed of stainless steel social inventory has slowed down, and the social inventory is at a high level compared to the same period last year.

Summary and Outlook

Although the nickel iron price is currently weak, the downside is limited. The main reason is that both domestic and foreign iron plants have reduced nickel iron production capacity. The reduction and suspension of production by domestic iron plants due to profit losses have led to a reduction in capacity, while Indonesian iron plants, driven by profits, have shifted more nickel iron production lines to high-nickel lines. In addition, the shortage of nickel ore supply has led to a reduction in nickel iron capacity.

Moreover, according to data released by the National Bureau of Statistics, China's GDP growth rate in the first half of the year was maintained at 5%. Against the backdrop of economic recovery, coupled with the "Golden September and Silver October" as the peak season for stainless steel, multiple macro factors may help boost terminal demand. As the end of the month approaches, the steel plant procurement period is coming, and the market is waiting for centralized transactions to land.

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:
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Phone: 13521210668
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Notice on Holding the China Steel Structure Industry Chain Hundred Enterprises Forum

📢 Notice on Holding the China Steel Structure Industry Chain Hundred Enterprises Forum 🏗️

China Metallurgical Industry & Trade Promotion Association

Mysteel.com - July 18, 2024, 10:23 AM

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

Stainless Steel Crude Steel Production in the First Quarter Grew by 5.5% YoY to 14.585 Million Tons

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Stainless Steel Crude Steel Production in the First Quarter Grew by 5.5% YoY to 14.585 Million Tons

Brussels, July 12, 2024 - The World Stainless Steel Association has released data for the first three months of 2024, indicating that the production of stainless steel crude steel has increased by 5.5% compared to the same period last year, reaching 14.585 million tons. It has decreased by about 1.3% compared to the previous quarter.

Among them, Europe decreased by 4.8% year-on-year but increased by 3.7% quarter-on-quarter to 1.558 million tons; the United States increased by 6.5% year-on-year and by 15.8% quarter-on-quarter to 0.509 million tons; Mainland China increased by 2.1% year-on-year but decreased by 4.5% quarter-on-quarter to 8.595 million tons; Asia (excluding Mainland China and South Korea) increased by 12.9% year-on-year but decreased by 5.2% quarter-on-quarter to 1.842 million tons; Other regions (Brazil, Russia, South Africa, South Korea, Indonesia) increased by 25.0% year-on-year and by 10.1% quarter-on-quarter to 2.081 million tons.

Americ Energy (CHINA) Co., Ltd. is 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

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Stainless Steel Futures 2409 Contract Falls 115 to 13,815 Yuan/Ton, Spot-Futures Price Difference is 305

📰 Stainless Steel Industry News

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.

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