SHANGHAI, Dec. 1 (SMM) — The stainless steel market remains stable with sparse trading.The basic quotation of #304 cold rolled coil is between 12900-13400 yuan/ton.According to the survey of traders, due to the tight spot supply of Hongwang, some agents have suspended the sales of coils and reserved the supply for the later sales of medium and heavy plates.
Qingshan’s January #304 133.32cm cold-rolled stainless steel futures opened at RMB 12,800/t.Hongwang has received sufficient December and January futures orders.The price of #201 cold rolled stainless steel remained stable.The spot guide price of #430 cold-rolled stainless steel has risen to 9000-9200 yuan / ton, and it is expected to continue the upward trend.
China’s total stainless steel exports increased by 21,000 tonnes from September to 284,400 tonnes in October, up 7.96% MoM but down 9.61% YoY.The total import of stainless steel in October increased by 30,000 tons to 207,000 tons compared with September, a month-on-month increase of 16.9% and a year-on-year increase of 136.34%.The increase in imports in October was mainly driven by a 28,400 t increase in imported flats/flats and a 40,000 t increase in flats from Indonesia.
According to SMM’s research, as the operating rate of overseas stainless steel plants is limited by COVID-19, the export volume of stainless steel products and home appliances is expected to remain at a high level in November, while China’s production has been largely under effective control. Recovery from the epidemic.
Profit: As the spot price of stainless steel remains stable, the total cost loss of stainless steel plants with NPI facilities is about 1330 yuan/ton in terms of raw material inventory.From the perspective of daily raw material inventory, under the circumstance of falling prices of NPI and stainless steel scrap, the total cost loss of ordinary stainless steel plants is about 880 yuan / ton.