Overview
The total regional market stainless steel inventory in China is 1,115,860 tonnes, a decrease of 1.31% week-on-week and a decrease of 41.66% year-on-year. Among this, the cold-rolled stainless steel inventory is 351,430 tonnes, an increase of 6.86% week-on-week and an increase of 46.21% year-on-year. The hot-rolled stainless steel inventory is 764,430 tonnes, a decrease of 4.66% week-on-week and a decrease of 54.29% year-on-year.
This week, the total regional inventory showed a slight decrease, with the reduction mainly observed in the 300 and 400 series, while the 200 series saw an increase in arrivals, resulting in a continuous increase in inventory for the third consecutive week.
Statistical Analysis of Regional Stainless Steel Inventory in China (Tonnes)
(Covering the markets of Jieyang, Zibo, Shenyang, and Xi’an)
| Category | Series | Inventory (tonnes) | Share (%) | Change from Previous Period (tonnes) | Change (%) |
| Cold-rolled | 200 Series | 17,328 | 15.53 | 2,458 | 16.53 |
| 300 Series | 17,815 | 15.97 | -202 | -1.12 | |
| 400 Series | – | – | – | – | |
| Total | 35,143 | 31.49 | 2,256 | 6.86 | |
| Hot-rolled | 200 Series | 15 | 0.01 | 3 | 25.00 |
| 300 Series | 13,428 | 12.03 | -1,741 | -11.48 | |
| 400 Series | 63,000 | 56.46 | -2,000 | -3.08 | |
| Total | 76,443 | 68.51 | -3,738 | -4.66 | |
| 200 Series Total Inventory | 17,343 | 15.54 | 2,461 | 16.54 | |
| 300 Series Total Inventory | 31,243 | 28.00 | -1,943 | -5.85 | |
| 400 Series Total Inventory | 63,000 | 56.46 | -2,000 | -3.08 | |
| Total Inventory | 111,586 | 100.00 | -1,482 | -1.31 |
200 Series
The total inventory of 200 series stainless steel is 17,343 tonnes, an increase of 16.54% week-on-week. Specifically, the cold-rolled inventory increased by 16.53% and the hot-rolled inventory increased by 25%.
The total 200 series inventory has been increasing for three consecutive weeks, with increments in both cold and hot-rolled resources this week. Cold-rolled resources saw an increase in deliveries in Zibo, Xi’an, and Shenyang markets, with notable increases in Zibo and Shenyang, reaching their highest levels this year, primarily driven by arrivals of HW and BGXCL resources. With increased market arrivals and sluggish shipments, the prices for 200 series declined, though attempts to move volume at lower prices were largely ineffective, with market sentiment remaining cautious.
300 Series
The total inventory of 300 series stainless steel is 31,243 tonnes, a decrease of 5.85% week-on-week. Specifically, the cold-rolled inventory decreased by 1.12% and the hot-rolled inventory decreased by 11.48%.
This week, the 300 series inventory continued to deplete, with both cold and hot-rolled stocks showing reductions. The hot-rolled depletion rate was better than cold-rolled. For cold-rolled, the Xi’an market saw a decrease primarily in HW, BGXCL, DL, and TGTG resources, while the inventory in Shenyang and Zibo remained stable compared to last week. For hot-rolled, the Zibo market showed depletion mainly in QS, BGXCL, and DT resources, while there were some arrivals in the Shenyang and Zibo markets. The price for the 304 series remained stable this week with average sales, while the price for 316L increased due to rising molybdenum prices and tighter spot availability. The Zibo market saw faster depletion of hot-rolled resources compared to last week.
400 Series
The total inventory of 400 series stainless steel is 63,000 tonnes, a decrease of 3.08% week-on-week. Specifically, the hot-rolled inventory decreased by 3.08%.
Due to off-season consumption, merchants reported poor downstream order performance and low market purchasing enthusiasm, resulting in generally sluggish shipments for the week.