SMM, October 9 - The total inventory of stainless steel in the major markets of Wuxi and Foshan showed a destocking trend, decreasing from 909,000 mt on September 25, 2025, to 905,600 mt on October 9, down 0.37% WoW.
This week, as the first working week after the National Day and Mid-Autumn Festival holidays, the overall social inventory of stainless steel again showed a slight downward trend, with inventory remaining at 900,000 mt, still at a relatively low level for the year. Although pre-holiday stockpiling demand was not robust, some downstream end-users still made advance purchases and cargo pick-ups. Additionally, before the holidays, typhoon and heavy rain weather in southern China affected cargo shipments and warehouse inflows; during the dual holidays, industry participants took holidays, and market transactions paused; meanwhile, affected by the holidays, the number of transport vehicles decreased, leading to reduced inflows and outflows. These factors collectively contributed to the decline in stainless steel social inventory. Although purchasing sentiment among downstream stainless steel end-users remained weak recently, the concentrated release of pre-holiday stockpiling demand may further exacerbate sluggish market transactions after the holidays. However, post-holiday, SS futures rose amid the overall strength of metal futures, and the sentiment of rushing to buy amid continuous price rise and holding back amid price downturn may stimulate the release of some market demand. Subsequent attention should be paid to the recovery of downstream demand.
