Stainless Steel In-plant Inventory Differs by Series, and was in Short Supply in September

SHANGHAI, Oct 12 (SMM) - According to SMM survey, the in-plant stainless steel inventory stood at 1.01 million mt in September, down 3.3% from the previous month. In detail, the in-plant inventory of 200-series stainless steel stood at 294,300 mt, 300-series 516,000 mt, and 400-series 195,900 mt. Except for 400-series, both the in-plant inventory of 200 and 300-series fell. Among them, the in-plant inventory of 300-series has been falling for two straight months, but the overall inventory held by steel mills was still relatively high compared with historical data. In terms of supply-demand balance, the supply was in shortage in August and September. Though the production scheduling of mills was active in September, the in-plant inventory posted declines, indicating strong downstream consumption that matched the supply growth.

Looking into October, the supply of stainless steel is expected to rise further, but the demand growth may fall behind. As such, the in-plant inventory will rise slightly by then.