Ningbo Baoxin's BA Plate Order Volume Increased by 34% in the First Half of the Year; June Domestic Stainless Steel Related Import and Export Data Released

  • Author John Doe
  • Date Nov 25
  • Categories no_categories

 

Stainless Steel Industry News Highlights

Market Dynamics

Stainless Steel Futures: The stainless steel futures contract 2409 increased by 90 to 13,850 CNY/tonne, with the current spot-futures price difference at 120.

Foshan Market: After fluctuating, the stainless steel futures rebounded and stood above the 13,800 mark. Spot market prices for 304 cold-rolled materials showed mixed movements, with some falling 20-50 to facilitate transactions, while others slightly increased. However, trading remained quiet.

Wuxi Market: Inquiries in the morning showed that the mainstream quoted price for 304 cold-rolled four-foot materials in the private sector was 13,500 CNY/tonne, unchanged from last Friday; the hot-rolled price was 13,350 CNY/tonne, up 50 from the previous Friday.

Industry News

Ningbo Baoxin's Order Growth: Ningbo Baoxin reported a 34% year-on-year increase in BA plate order volume in the first half of the year, along with growth in other product categories.

Anti-dumping Announcement: China's Ministry of Commerce has announced the continuation of anti-dumping duties on stainless steel billets and hot-rolled coils from the EU, UK, South Korea, and Indonesia, following the expiration review investigation.

Trial Production of Stainless Steel Heat Exchanger Tubes: A 30,000-tonne/year high-end stainless steel heat exchanger tube project, invested by Zhejiang Julong Special Material Group Co., Ltd., has entered the trial production phase.

Export and Import Data: In June, the top 20 export regions for Chinese stainless steel accounted for 36.47 million tonnes, with India being the largest export destination. The top 5 import regions accounted for 12.46 million tonnes, with Indonesia being the largest source of imports.

Raw Material Related

Jinchuan Company's Nickel Price Adjustment: Jinchuan Company has adjusted its electrolytic nickel quotations downward by 1,300 CNY.

Furnace Ignition at a High-Carbon Chromium Factory: A 18,000KVA furnace at a high-carbon chromium iron factory in Inner Mongolia has been ignited, with an expected monthly output of over 3,000 tons of high-carbon chromium iron.

Import Data for Chrome and Nickel Iron: China's imports of chrome iron and nickel iron have shown significant increases both month-on-month and year-on-year.

Stainless Steel Scrap Import Decrease: China's import of stainless steel scrap has decreased significantly compared to the previous month and the same period last year.

Nickel Production Capacity in Indonesia: Zhongwei Shares has disclosed that it has built a nickel resource smelting base in Indonesia with a capacity of 200,000 metal tons.

About Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. is a distinguished manufacturer and distributor of an extensive array of stainless steel products, tailored to meet the varied requirements of multiple industries. Their product range includes stainless steel tubes, plates, strips, and square tubes, all adhered to the highest quality standards.

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Stainless Steel Market's Main Concern is Not Anti-Dumping, But This Matter

  • Author John Doe
  • Date Nov 25
  • Categories no_categories

 

🔍 Stainless Steel Market's Main Concern

July 22nd, Foshan Market News: Today marks the beginning of the hottest season of the year, Da Shu, which is also known as the Great Heat. Perhaps due to the need for restocking on Monday, the stainless steel market also showed signs of "warming up" compared to last week. The market was restless throughout the day. In the morning, attention was drawn to the "Ministry of Commerce's continued imposition of anti-dumping duties on imported stainless steel billets from Indonesia and other countries"; in the afternoon, the hot topic was the significant drop in stainless steel futures warehouse receipts:

📉 Significant Decrease in Stainless Steel Futures Warehouse Receipts

According to data from the Shanghai Futures Exchange, today's stainless steel futures warehouse receipts recorded 147,747 tons, a decrease of 39,847 tons from the previous trading day, a drop of 21.24%. This is the first significant inventory reduction on a trading day within the year, which has attracted considerable attention from the industry:

  1. Voice 1: Level the market, deliver the warehouse receipts to agents, QS is the largest arbitrage company combining futures and spot trading.
  2. Voice 2: The nearly 40,000 tons of warehouse receipts reduced corresponds to last week's GJ futures September short position of about 7,000 contracts closed (holding 9,000 contracts). This position belongs to QS, indicating it is a steel mill action.
  3. Voice 3: The purpose of the significant reduction in positions by ZGGJ that day was to convert warehouse receipts into spot goods. All of Yongwang's warehouse receipts were converted into spot sales, totaling about 48,000 in East China and South China combined.
  4. Voice 4: Today, while commodity futures are falling, why is stainless steel rising instead? It is due to the reduction of short positions, indicating that steel mills do not want to deliver in September and are selling spot goods to agents.
  5. Voice 5: It is said that steel mills have instructed agents not to sell to futures and spot institutions, but the steel mills themselves are issuing warehouse receipts. After a rebate of 13550, it's about 13450 at the base.

Micro-comment: In the evening of Foshan, the sunset is particularly beautiful, spreading across the stainless steel circle of friends.

🌆 "Whether it's beautiful or not depends on the mood. You say such a market, the steel mill is in a good mood, so controllable. Like us, people who survive in the cracks, I feel that it is blood, the blood that the stainless steel people have shed with scars, and I don't have the mood to appreciate the beauty," said Old Iron.

Well, whoever is weak has reason, and whoever is hurt has the final say.

AmeriCan 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.

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