Stainless Steel Weekly Inventory Slightly Declines Destocking Pressure Remains High [SMM Analysis]

[SMM Analysis: Stainless Steel Weekly Inventory Edges Down, Destocking Pressure Remains High] From March 14 to 20, 2025, the total inventory in Wuxi and Foshan stainless steel markets dropped to 994,000 mt, down 1.75% WoW, with varying changes across different series. In east China's Wuxi market, 200-series and 400-series inventories decreased, while 300-series inventory increased; in south China's Foshan market, 200-series and 300-series inventories declined, and 400-series inventory slightly rose. The main reason for the inventory decline was reduced shipments from steel mills, coupled with mediocre downstream purchasing. Demand is expected to rebound by the end of March and early April, potentially easing inventory pressure, but there is uncertainty. Attention should be paid to the speed of social inventory destocking, as well as the ongoing impact of production schedules, raw material prices, and macro policies on the market.