Stainless Steel Raw Material Remains Stable, Profit Margins Slightly Recovered [SMM Analysis]

This week, stainless steel futures prices fluctuated rangebound with a downward trend, while spot prices remained relatively stable. The weekly average price of private 304 cold-rolled stainless steel was 13,150 yuan/mt, up by approximately 120 yuan/mt WoW. With the holiday approaching, many steel mills began maintenance, leading to a slight decline in production; meanwhile, downstream market inventory was replenished in advance, resulting in sluggish market transactions. The integrated cost of 304 cold-rolled nickel was approximately 1,021.25 yuan/mtu, a slight increase of about 0.02% WoW. Ferrochrome prices remained stable at 7,200 yuan/mt, and stainless steel scrap prices were around 9,300 yuan/mt, unchanged. Raw materials continued to provide support, with the daily raw material cash cost for integrated production at approximately 13,543 yuan/mt. Based on the stainless steel mill price of 13,150 yuan/mt, the cash cost incurred a loss of nearly 2.91%, while the full cost loss reached 7.16%. Stainless steel finished product prices are expected to remain stable or slightly decline next week.

》Click to View SMM Stainless Steel Spot Historical Prices

》Click to View SMM Stainless Steel Industry Chain Database