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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