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

Published: Jan 24, 2025 16:41

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[SMM Analysis: Stainless Steel Raw Materials Remain Stable, Profit Margins Slightly Recovered] 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.

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.

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