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

On March 20, 2025, the inventory of various series in the Wuxi and Foshan stainless steel markets changed to different degrees, with total inventory decreasing by 994,000 mt, down 1.75% WoW. The main reason was a reduction in shipments from steel mills and mediocre downstream demand. Although there was a slight destocking, the overall market inventory pressure remained significant. In the east China market, represented by Wuxi, 200-series inventory decreased from 100,500 mt to 99,200 mt, down 1.29% WoW; this was mainly due to stable demand for 200-series products and low arrivals, leading to a downward trend in inventory. 300-series inventory increased from 380,900 mt to 382,400 mt, up 0.39% WoW; continuous product arrivals from stainless steel mills and some goods entering delivery warehouses caused a slight increase in inventory. 400-series inventory decreased from 90,600 mt to 88,700 mt, down 2.10% WoW; given the relatively small supply scale of 400-series products, limited arrivals this week, and stable market absorption, a destocking state was formed. In the south China Foshan market, 200-series inventory decreased from 175,400 mt to 166,900 mt, down 4.85% WoW; during the price decline, downstream enterprises were cautious in purchasing, but some had restocked earlier, and with limited arrivals this week, the inventory decrease was noticeable. 300-series inventory decreased from 214,500 mt to 206,900 mt, down 3.54% WoW; some overseas arrivals were gradually absorbed by the market this week, but the overall absorption rate was moderate. 400-series inventory increased from 49,800 mt to 49,900 mt, up 0.20% WoW, with a relatively small change, mainly due to the relative stability of supply and demand for this series. It is expected that at the end of March and early April, the demand in the stainless steel market may see a certain degree of rebound, which could help alleviate the current significant inventory pressure. If you have any questions about stainless steel inventory, please feel free to contact us: Chaoxing Yang 13585549799 (WeChat ID same)》Click to view SMM stainless steel spot historical prices》Click to view SMM stainless steel industry chain database