Stainless steel inventory experienced a slight destocking, with future demand becoming the key factor [SMM Analysis].

March 27, 2025 -

From March 21 to March 27, 2025, the inventory of various series in the Wuxi and Foshan stainless steel markets experienced varying degrees of change, with the total inventory decreasing to 984,300 mt, down 0.98% WoW. Downstream demand for goods pick-up remained rigid, and traders controlled inventory, maintaining a slight destocking trend.

200-series: In Wuxi, the 200-series inventory decreased from 99,200 mt to 97,400 mt, down 1.81% WoW, showing a significant decline. This was mainly due to the price increase of 200-series products this week, which drove downstream rigid demand for restocking, leading to a downward trend in social inventory. In Foshan, the inventory increased from 166,900 mt to 167,800 mt, up 0.54% WoW. The performance in the two regions diverged, with the increase in Foshan failing to offset the decrease in Wuxi.

300-series: In Wuxi, the 300-series inventory decreased from 382,400 mt to 375,500 mt, down 1.80% WoW; in Foshan, it decreased from 206,900 mt to 206,600 mt, down 0.14% WoW. Both Wuxi and Foshan saw a decline in 300-series inventory, with Wuxi experiencing a relatively larger drop. Stainless steel mills had limited product arrivals this week, and delivery warehouses destocked as pick-ups exceeded arrivals. Most trader warehouses maintained flat inventory, resulting in a slight destocking trend across the market.

400-series: In Wuxi, the 400-series inventory decreased from 88,700 mt to 86,600 mt, down 2.37% WoW; in Foshan, it increased from 49,900 mt to 50,400 mt, up 1.00% WoW. Wuxi saw a decline in inventory, while Foshan experienced an increase, similar to the 200-series, indicating regional differences.

This week, stainless steel inventory experienced slight destocking, with downstream merchants mostly buying the dip. It is expected that inventory resistance will remain significant in the future, and downstream demand growth may drive further destocking of stainless steel.

For any inquiries regarding stainless steel inventory, please feel free to contact us: Chaoxing Yang 13585549799 (WeChat ID same as phone number).

》Click to view SMM spot stainless steel historical prices.

》Click to view SMM stainless steel industry chain database.