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News
NEWS CENTER
26
2023
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01
Things to know about the supply of stainless steel shoe cabinets in Tianjin
On Friday, nickel prices opened lower and fluctuated, with the main 2209 contract closing at 172,410 yuan/ton, down 2.74%. With the gradual release of production from new wet and pyrometallurgical projects in Indonesia, the global supply of nickel has entered a surplus stage. Nickel iron and nickel sulfate prices continue to fall, and future prices remain under pressure. Under the pressure of supply, nickel prices are difficult to sustain a rise. Last week, the Shanghai Futures Exchange's nickel inventory increased by 1,891 tons to 3,632 tons, easing the pressure of pure nickel supply shortages, and spot prices continued to fall. Moreover, at present, nickel demand has not shown any significant improvement. Although nickel demand in the new energy sector remains strong, traditional stainless steel demand is weak, stainless steel mills are still losing money, and against the backdrop of weak domestic economic recovery, stainless steel demand is unlikely to show any significant improvement. Therefore, the fundamentals of nickel prices remain weak, and it is expected that nickel prices will continue to fall in the future. Consider establishing short positions at high prices. Stainless steel futures rose slightly this week, outperforming nickel. Stainless steel survey data shows a significant reduction in production in January, with a decline in supply. Overall social inventories of stainless steel have rebounded, with 300 series continuing to accumulate, and futures...
Nickel prices opened lower and fluctuated overnight on Friday, with the main 2209 contract closing at 172,410 yuan/ton, down 2.74%. With the gradual release of production from new wet and pyrometallurgical projects in Indonesia, the global supply of primary nickel has entered a surplus stage. Nickel pig iron and nickel sulfate prices continue to fall, and prices are still under pressure in the future. Under the pressure of supply, nickel prices are difficult to sustain a rise. Last week, the Shanghai Futures Exchange's nickel inventory increased by 1,891 tons to 3,632 tons, easing the pressure of pure nickel supply shortages, and spot prices continued to fall. Moreover, at present, nickel demand has not shown any significant improvement. Although nickel demand in the new energy sector remains strong, traditional stainless steel demand is weak, stainless steel mills are still losing money, and against the backdrop of weak domestic economic recovery, stainless steel demand is also unlikely to show any significant highlights. Therefore, the fundamentals of nickel prices remain weak, and it is expected that nickel prices will continue to fall in the future, and it is advisable to consider establishing short positions at high prices.
Stainless steel futures rose slightly this week, outperforming nickel. Stainless steel survey data shows a significant reduction in production in January, with a decline in supply. Overall social inventories of stainless steel have rebounded, with 300 series inventories continuing to accumulate, and futures inventories continuing to increase. There is cost support for stainless steel, and there are also expectations for post-holiday demand. Downstream and suppliers are gradually going on holiday, and purchases and sales are slowing down. Stainless steel prices may continue to fluctuate in the near term. Stainless steel has started to strengthen relative to nickel, but there are repeated fluctuations, with the two alternating.
As a one-stop supplier and service provider of cleanroom related products. We produce and sell commonly used stainless steel products for cleanrooms, such as changing rooms, shoe cabinets, stainless steel sinks, trolleys, shelves, stainless steel platforms, stainless steel railings, stainless steel tables, stainless steel racks, stainless steel shelves, sanitary ware racks, stainless steel flat carts, etc.
Last week, the inventory of 300 series stainless steel increased by tens of thousands of tons, reflecting weak demand. At the same time, there are still expectations of a surplus in nickel iron supply, and prices will continue to be under pressure. The cost side may not be able to provide strong support. At the same time, news of steel mill production cuts continues, and by reducing production to maintain prices, it is expected that stainless steel prices will maintain a fluctuating trend, but there is pressure on the upside.
Driven by rising nickel prices, Shanghai stainless steel rose slightly overnight. Supply remains loose, although there are production cuts by large domestic mills, but with the commissioning of overseas projects in Indonesia, it is expected that the return flow of overseas stainless steel will increase significantly in the future. Overall, the trend of stainless steel is weak due to strong supply and weak demand, and the raw materials chrome iron and nickel iron are still falling, and the cost support for stainless steel is gradually weakening.
In terms of industry, although the import and export profits of pure nickel have been repaired and the Green Hill project has been successfully put into production, we must also see the impact of the reduction in pure nickel production in January. In the short term, pure nickel may continue to maintain a tight state; in terms of nickel ore, the rainy season in the Philippines continues to disrupt supply, while demand is weak, and ore prices are relatively firm; in terms of nickel iron, iron plants have a strong willingness to maintain prices, but downstream stainless steel demand continues to weaken, and nickel iron prices are expected to continue to fluctuate; in terms of stainless steel, steel mills have carried out more maintenance and production cuts in January, and spot transactions have not improved, but the market has begun to trade the post-Spring Festival consumption recovery. In the short term, stainless steel will fluctuate under the game between weak reality and strong expectations.
Tianjin Zhongxinglida Stainless Steel Products Co., Ltd.
Tel：+86-22-29481476
Mobile：+8613902071446 Yang Zhiguang
Address: Liga Zhuang Industrial Zone, Shigezhuang Town, Wuqing District, Tianjin
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