Market Dynamics and Innovations

On July 3, 2024, the market witnessed a series of developments in the stainless steel industry, reflecting both market dynamics and technological advancements.

1. Stainless Steel Futures and Current Prices

The stainless steel futures contract 2409 increased by 55 to 14,190 yuan/tonne, with a current price difference of -170 yuan.

2. Market Updates

• Foshan Market: Stainless steel futures opened above the 14,100 mark and fluctuated at high levels, with the main market price for 304 cold-rolled remaining at 13,600-13,700 yuan per tonne.
• Wuxi Market: The main quoted price for private 304 cold-rolled four-foot basis was 13,550 yuan/tonne, and the hot-rolled price was 13,400 yuan/tonne, both unchanged from the previous day.

3. Industry News

• Qingtuo Group: Their QN and QD series products have a yield strength that can be increased by more than 30% compared to chrome-nickel stainless steel, with a thickness reduction of over 10%.
• Fujian Qingshan Special Material Stainless Steel Deep Processing Project: The project is expected to complete all basic construction by mid-August.
• Taigang: Signed a contract to provide stainless steel plates for the core equipment of the Chashma Nuclear Power Plant Unit 5 in Pakistan.
• Jiangmen Xinhui District Stainless Steel Industry Cluster: Proposed to be recognized as a characteristic industry cluster of Guangdong Province's small and medium-sized enterprises.
• Jieyang Stainless Steel Company's 4MW Photovoltaic Demonstration Project: Has entered the grid trial operation phase, using Huawei's intelligent photovoltaic solution.
• Wenzhou Expansion Project for Stainless Steel Flanges and Tubes: The environmental impact report has been accepted for public announcement.
• Liyang Delong Metal Technology: Successfully produced a titanium hot-rolled coil with a width of 2 meters, filling the domestic gap in ultra-wide titanium hot-rolled coils.

4. Raw Material News

• Jinchuan Company's Electrolytic Nickel Price: Adjusted down by 100 yuan.
• Zhongwei's North Morowali Industrial Base in Indonesia: The first batch of low-ice nickel successfully arrived at Qinzhou Port.
• Chalice Mining and Mitsubishi: Reached an agreement to develop the Gonneville platinum group metal and nickel-cobalt-copper project in Western Australia.