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Weekly Report of China Stainless Steel Market for April 26-May 5, 2019

https://en.steelhome.com [SteelHome] 2019-05-06 09:44:51

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According to SteelHome China Steel Price Index (SHCNSI), steel price index closed at 100.81 points (4,361 yuan) on 5 May 2019, up 0.13% week on week or 0.53 point (23 yuan) from last week. Stainless steel price index (SHCNSI-SS) closed at 65.53 points (14,363 yuan), down 0.02% week on week or down 0.03 point (7 yuan) from last week.

By Sunday, average price of 2.0mm 304/2B cold rolled stainless steel in eight Chinese cities closed at 14,688 yuan/t, unchanged from last weekend; that of 2.0mm 430/2B cold rolled stainless steel closed at 8,225 yuan/t, unchanged from last weekend; that of 2.0mm 201/2B cold rolled stainless steel (plate) closed at 7,550 yuan/t, unchanged from last weekend; that of 6.0mm 304/NO.1 hot rolled stainless steel closed at 13,494 yuan/t, unchanged from last weekend; and that of 10.0mm 304/No.1 hot rolled stainless steel closed at 13,888 yuan/t, unchanged over last weekend.

In the given time, stainless steel price still ran in weak pace with flat offers.

By the end of 3 May (Thursday), LME three-month closed at 12,124 dollars/t, 196 dollars/t lower than that in last week.

From transaction aspect, affected by May Day Holiday, overall transactions were sparse amid weak demand from end-buyers. In order to return cost, traders gave certain negotiation to the deal price.

From steel mills aspects, daily settlement price of 2.0mm 304/2B stainless steel coil produced by TISCO was 14,700 yuan/t, unchanged from last week; that of 2.0mm 430/2B stainless steel coil was 8,350 yuan/t, down 100 yuan/t from last week; and that of 304 hot rolled steel produced by Eastern Special Steel was unchanged. Now 8.0mm 304/No.1 coil produced by Eastern Special Steel was 13,550 yuan/t.

SteelHome predicts that stainless steel price is more likely to run in weak pace in the next week.

Table 1: Average Price of Stainless Steel at 8 Chinese Major Markets on 5 May 2019

 

Price (Yuan per ton)

Up/down (Yuan per ton)

2.0mm 304/2B stainless steel flats

14688

-

2.0mm 430/2B stainless steel coil

8225

-

2.0mm 201/2B stainless steel sheet

7550

-

6.0mm 304/No.1 stainless steel coil

13494

-

10.0mm 304/No.1 stainless steel coil

13888

-

Table 2: China’s Stainless Steel Market Price (Unit: yuan per tonne)

304/2B

Shanghai

Wuxi

Foshan

Hangzhou

Zibo

Tianjin

Taiyuan

Shenyang

Average price

2.0mm

5 May 2019

14800

14600

14600

14500

14600

14900

14650

14850

14688

26 April 2019

14800

14600

14600

14500

14600

14900

14650

14850

14688

Up/down

0

0

0

0

0

0

0

0

0

Steelmakers

Baoxin

Taiyuan Steel

Taiyuan Steel

Taiyuan Steel

Taiyuan Steel

Taiyuan Steel

Taiyuan Steel

Taiyuan Steel

 

430/2B

Shanghai

Wuxi

Foshan

Hangzhou

Zibo

Tianjin

Taiyuan

Shenyang

Average price

2.0mm

5 May 2019

8300

8200

8150

8200

8200

8200

8200

8350

8225

26 April 2019

8300

8200

8150

8200

8200

8200

8200

8350

8225

Up/down

0

0

0

0

0

0

0

0

0

Steelmakers

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

 

201/2B

Shanghai

Wuxi

Foshan

Hangzhou

Zibo

Tianjin

Taiyuan

Shenyang

Average price

2.0mm

5 May 2019

7950

7650

7250

7300

7650

7950

7350

7300

7550

26 April 2019

7950

7650

7250

7300

7650

7950

7350

7300

7550

Up/down

0

0

0

0

0

0

0

0

0

Steelmakers

LISCO

LISCO

LISCO

LISCO

LISCO

LISCO

LISCO

LISCO

 

304/NO1

Shanghai

Wuxi

Foshan

Hangzhou

Zibo

Tianjin

Taiyuan

Shenyang

Average price

6.0mm

5 May 2019

13250

13300

13900

12250

13050

13500

14450

14250

13494

26 April 2019

13250

13300

13900

12250

13150

13600

14450

14250

13519

Up/down

0

0

0

0

0

0

0

0

0

Steelmakers

Baosteel Stainless Steel

Baosteel Stainless Steel

TISCO

Baosteel Stainless Steel

TISCO

TISCO

TISCO

TISCO

 

10.0mm

5 May 2019

13950

14300

14200

12600

13050

13900

14750

14350

13888

26 April 2019

13950

14300

14200

12600

13150

14000

14750

14350

13913

Up/down

0

0

0

0

0

0

0

0

0

Steelmakers

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

TISCO

 

Raw material

Nickel

Nickel futures price vibrantly went downtrend. By Sunday, 1# electrolyzed nickel price in spot market was 100,900 yuan/t, down 450 yuan/t from last Friday (26 April). By Thursday, LME three-month nickel futures price closed at 12,124 dollars/t, down 196 dollars/t in a week.

Impacted by Indonesia export policy and Philippine politics, nickel supply is to sharply grow and imported electrolytic nickel. Meanwhile, in the late of Q2, domestic metallurgical resumption is expected to accelerate. Nickel price will be dragged down by increasing supply and slack demand. No matter in the short term or the long term, there is little chance for nickel price rebound. In the spot market, orders volume is cut and downstream demand is reduced. Traders who hold the resources mainly promote sales.

SteelHome predicts nickel price is difficult to rebound in the next week.

Stainless Steel Mills

1. TISCO: it was reported on 26 April, maintenance on No.5 blast furnace of TISCO kicked off.

2. Beihai Chengde Stainless Steel: through technology innovation and technique breakthrough, Beihai Chengde Stainless Steel develops new processing to reduce consumption of Nickel.

Downstream Industry:

1.     Auto: Data from Customs shows that in 2018, auto enterprises totally export 1.0407 million units, up 16.82% on year. Impacted by Iran economy, China exports 231,000 units in the first quarter of 2019, up 2.7% on year.

2.     Machinery: Statistics from China Construction Machinery Association Excavating Machinery Branch (CEXMA), in the first quarter of 2019, it sold 74779 units, up 24.5% on year.

3.     Household Appliance: according to Qingdao Haier yearly report, in 2018, the company reached 183.317 billion yuan business income, up 12.17% on year and its net profit was 7.44 billion yuan, up 7.71% on year. Compared with that in 2017, business growth slowed down.

SteelHome Dynamic:

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Profile of XV Steel Development Strategy and Supply/Demand Conference

Summary of SteelHome Spring Report

Wu Wenzhang: 'New Economy, New Momentum, New Challenge'

Li Xinchuang: Situation Analysis of Steel Market in 2019

Peter F.Marcus: Better Fundamentals for Global Steel in Years to 2025

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