April 9 SMM stainless steel spot price: 3042B volume-trimming (Wuxi) average price down 100 yuan / ton

The Ministry of Ecology and Environment announced that in 2021, China’s 145 million mt of steel production capacity completed the ultra-low emission transformation of the whole process.

Baosteel Desheng High-quality Stainless Steel Green Industry Base Project - Steel Capacity Replacement Project is located in Jin’gang Industrial Zone, Luoyuanwan Development Zone, Luoyuan County, Fuzhou City.

The operating rates across 34 EAF mills of construction steel stood at 54.58% as of December 28, a gain of 0.68 percentage point from the previous week.

The output of stainless steel has increased since November as the power rationing has been eased. However, downstream producers’ consumption thinned, suppressing stainless steel prices. Stainless steel mills suffered losses as prices of raw material like ferrochrome and NPI were at high levels, in spite of correction. Especially, #200-series stainless steel prices have declined 2,900 yuan/mt or 22.3% since early November.

This is a roundup of news in the steel industry for last week.

This is an overview of China’s imports and exports of metals in September.

Shanghai base metals all trended higher on Monday morning boosted by the unexpectedly low US employment data. Meanwhile, their counterparts on LME trended mixed.

Shanghai nonferrous metals closed all in the positive territory as the US debt risks have been contemporarily mitigated.

Shanghai base metal basically trended lower on Wednesday morning against the lower-than-expected US CPI increase in August. Meanwhile, their counterparts on LME mostly cruised higher.

According to SMM survey, import profits rose as the SHFE/LME nickel price ratio advanced this week. In addition, traders that had locked in the SHFE/LME price ratio last week moved goods into the domestic market for delivery.