Foshan market news on March 6, 2024, data released by the China Federation of Logistics and Purchasing on the 5th showed that the China Commodity Price Index (CBPI) in February was 111.4, a slight decrease of 0.7% month-on-month and a year-on-year decrease of 7.5%. Among them, the black price index fell slightly after rising for three consecutive months, down 0.1% month-on-month and down 8.5% year-on-year; the non-ferrous price index ran at a low level, down slightly 0.8% month-on-month and down 7.4% year-on-year; the energy price index continued to fall, down 0.9 month-on-month. %, down 9.3% year-on-year; the mineral price index was the lowest since January 2021, down 2.3% month-on-month, and down 10.2% year-on-year.
So, in addition to the above data, what other news is there in the stainless steel industry? Please take a look at today’s stainless steel highlights below:
1. Futures-to-Case Price Difference
1. [Stainless steel futures 2405 contract fell 110 yuan to 13,710 yuan/ton, with a price difference between futures and current prices of 410 yuan]
Today, the stainless steel futures 2405 contract fell by 110 yuan to 13,710 yuan/ton, with positions increasing by 469 lots to 148,568 lots, and 156,530 lots traded.
Today, Wuxi 304 cold-rolled Hongwang spot 2.0mm rough edge was quoted at about 13,950 yuan/ton (converted into a trimmed edge of about 14,120). The current stainless steel futures price difference is 410.
2. Market Dynamics
1. Foshan Market
In the morning, the futures market was deadlocked after diving, and the spot market 304 cold-rolled Qingshan agent raised the price. The first wave of traders maintained the high level of yesterday afternoon, and some went directly to 13400 basis for shipment, and the second wave of mainstream sales went to 13400 basis. Some of the transaction prices reached 13,350 bases, and most cards were ahead of the curve near 13,400 bases. Some transactions moved back to their original positions. The overall market price remained volatile and the theme of falling remained unchanged. The 304 hot-rolled market is still falling by 50-100 for shipments. Some cold-rolled and hot-rolled products have the same price, while some cold-rolled products are cheaper than hot-rolled products.
2. Wuxi Market
In terms of spot stainless steel, in the morning inquiry, the mainstream price of private 304 cold-rolled four-foot rough base in Wuxi was 13,650 yuan/ton, and the private hot-rolled price was reported at 13,400 yuan/ton, both down 50 yuan/ton from yesterday. Futures prices declined weakly, and the wait-and-see mood spread in the spot market. Terminal purchasing enthusiasm was not high, and transaction performance was average. Most traders’ quotations were slightly lowered this morning.
3. Industry News
1. [The output of Baosteel Desheng hot rolling mill exceeded 400,000 tons again in February]
Baosteel Desheng Hot Rolling Plant adopts a scientific production planning method to ensure a stable production transition. In February, the output of the hot rolling mill once again exceeded 400,000 tons, successfully achieving a breakthrough. (Baosteel Desheng)
2. [Beigang New Materials Company will focus on breakthroughs in precision belts and 1803 products this year]
Recently, Lin Longsheng, a steel rolling expert at the Technology Center of Guangxi Beigang New Materials Co., Ltd., said in an interview that in terms of new product research and development, this year’s focus will be on breakthroughs in several areas: First, precision belts, which will use existing precision belts that have been invested and built. production line, to do some mass production in specialized fields; the second is the product 1803, which was developed in the early stage and replaces 304, such as water pipes and pipes in daily life. From the perspective of cost-effectiveness, through the optimization of alloys, it has been A great replacement. It is expected that some new development and expansion will be carried out in steel for rail frames this year. (Guangxi Beihai Investment Promotion)
3. [15 steel types of Taigang’s 4300 medium and heavy plate production line have passed the EU CE certification]
Recently, 15 steel types of Taigang’s 4300 medium and heavy plate production line have passed the EU CE certification. Among them: 13 stainless steel grades have passed the PED certification for pressure equipment under the CE certification system, and 2 carbon steel grades have passed the CPR certification for construction products under the CE certification system. (TISCO Group)
4. [Contract awarded for two 13,000-ton stainless steel chemical marine main engines]
On March 4, Yuchai Marine Power Co., Ltd. and Zhoushan Dashenzhou Shipbuilding Co., Ltd. held a contract signing ceremony for two 6S35ME-C9.7-HPSCR main engines for 13,000-ton stainless steel chemical tankers in Zhuhai. (Ship and sea equipment)
5. [Jiugang Hongxing Stainless Steel Co., Ltd. dug deep into cost reduction and efficiency enhancement points, creating a total profit of more than 450,000 yuan in January]
In January, the Stainless Steel Branch of Jiuquan Iron and Steel Co., Ltd. Hongxing Co., Ltd. carried out potential exploration at various levels around the classification of grinding debris, control of middle-finished casting residue, control of tail billet and ultra-pure head and tail billet cutting waste, and the use of domestic protective slag instead. A total of more than 450,000 yuan was created, and a cumulative cost reduction of more than 4,000 yuan was achieved. (Jiugang Daily)
6. [Domestic stainless steel crude steel production in February 2024 was 2.52 million tons, a month-on-month decrease of 510,000 tons]
According to research statistics, in February 2024, the crude steel output of domestic stainless steel enterprises above designated size was 2.5159 million tons, a month-on-month decrease of 505,200 tons, a decrease of 16.72%; a year-on-year decrease of 423,700 tons, a decrease of 14.41%.
7. [In February 2024, domestic stainless steel wide plate and coil crude steel production was 2.01 million tons, a month-on-month decrease of 190,000 tons]
According to research statistics, in February 2024, the wide-width coil crude steel volume of domestic stainless steel enterprises above designated size was 2.0143 million tons, a month-on-month decrease of 192,100 tons, a decrease of 8.71%; a year-on-year decrease of 103,100 tons, a decrease of 4.87%.
8. [In February 2024, China stainless steel strip crude steel production was 190,000 tons, a month-on-month decrease of 220,000 tons]
According to research statistics, in February 2024, the output of narrow-strip crude steel by domestic stainless steel enterprises above designated size was 192,900 tons, a month-on-month decrease of 222,700 tons, a decrease of 53.58%; a year-on-year decrease of 292,100 tons, a decrease of 60.22%.
9. [In February 2024, domestic stainless steel flat steel crude steel output was 2.21 million tons, a month-on-month decrease of 410,000 tons]
According to research statistics, in February 2024, the flat steel crude steel output of domestic stainless steel enterprises above the designated size was 2.2072 million tons, a month-on-month decrease of 15.82%; and a year-on-year decrease of 15.19%.
4. Raw Materials Related
1. [The inquiry price of 304 scrap from Qingshan Steel Plant is reduced by 200 yuan/ton]
On March 6, the inquiry price of 304 scrap stainless steel (8 nickels, 96% water yield) from Qingshan Steel Plant was 9,600 yuan/ton, which was 200 yuan/ton lower than on February 27.
2. [Qingshan Steel Plant purchases high-nickel iron for 950 yuan/nickel]
On March 6, Qingshan Steel Plant purchased tens of thousands of tons of Indonesian high-nickel iron at 950 yuan/nickel (tax included at arrival) to supply traders.
3. [Jinchuan Company’s electrolytic nickel quotation reduced by 2700]
On March 6, Jinchuan Company (yuan/ton): Shanghai electrolytic nickel (large plate) 135,300; barreled small pieces 136,500; the above quotation is 2,700 lower than the price on March 5.
4. [LME does not plan to launch a green nickel contract]
According to foreign media reports on March 5, the London Metal Exchange (LME) said on Tuesday that it does not plan to launch “green” futures contracts for nickel because the market size of such contracts is not large enough.