Stainless Steel Inventory Declines, Market Pressure Slightly Eases [SMM Analysis]

March 6, 2025—

During February 28 to March 6, 2025, inventories across all series in the Wuxi and Foshan stainless steel markets experienced varying degrees of change, with total inventory rising to 1.0054 million mt, down 0.49% WoW. Market inventory pressure slightly eased.

By region and series, in the Wuxi market, 200-series inventory decreased from 110,700 mt to 103,700 mt, down 6.32% WoW, possibly due to a phased release of downstream demand; 300-series inventory increased from 373,400 mt to 377,800 mt, up 1.18% WoW, reflecting continued supply-side input; 400-series inventory fell from 95,200 mt to 91,800 mt, down 3.57% WoW. In the Foshan market, 200-series inventory rose from 172,000 mt to 176,800 mt, up 2.79% WoW; 300-series inventory dropped from 210,000 mt to 205,400 mt, down 2.19% WoW; 400-series inventory increased from 49,100 mt to 49,900 mt, up 1.63% WoW.

Overall inventories in the Wuxi and Foshan markets, as well as 300-series cold-rolled inventory, have been fluctuating over the long term. The changes in this week's data were influenced not only by short-term supply and demand adjustments but also by the long-term development trends of the industry.

Demand is expected to rebound in mid-to-late March, potentially alleviating inventory pressure.

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