SMM May 8 report:
This week (May 1-8, 2025), the total inventory at the two major stainless steel markets in Wuxi and Foshan showed an inventory buildup trend, rising from 975,400 mt on April 30, 2025, to 989,100 mt on May 8, up 1.4% WoW. After the Labour Day holiday, the inventory pressure on social stainless steel stocks increased somewhat.
During the Labour Day holiday, most traders were on leave, and downstream enterprises had stockpiled in advance before the holiday, significantly slowing down the cargo pick-up pace during the holiday. Meanwhile, stainless steel mills maintained normal arrivals and continued to supply the market. After the holiday, despite a large amount of cargo pick-up by downstream enterprises, it was still not enough to digest the accumulated arrivals during the holiday, ultimately leading to an increase in the overall stainless steel inventory in Wuxi and Foshan.
From a regional perspective, affected by the holiday, the cargo pick-up pace of downstream enterprises changed. With normal arrivals, both regions experienced inventory buildup, with a relatively larger increase in the Foshan region.
200-series: In Wuxi, the 200-series inventory increased from 93,400 mt to 94,000 mt, up 0.64%; in Foshan, it rose from 166,700 mt to 169,200 mt, up 1.50%. 300-series: In Wuxi, the 300-series inventory grew from 355,300 mt to 360,700 mt, up 1.52%; in Foshan, it increased from 218,400 mt to 222,500 mt, up 1.88%. As the main category of stainless steel, the 300-series had a large number of arrivals. Although there was a destocking trend in delivery warehouses, the overall market inventory gradually accumulated. 400-series: In Wuxi, the 400-series inventory slightly increased from 88,000 mt to 88,200 mt, up 0.23%; in Foshan, it decreased from 53,600 mt to 54,500 mt, down 1.68%.
It is expected that there will be a destocking trend next week.
For any inquiries about stainless steel, please contact Yang Chaoxing at 021-20707860 or 13585549799 (same number for WeChat).
