🔍 Stainless Steel Market's Main Concern

July 22nd, Foshan Market News: Today marks the beginning of the hottest season of the year, Da Shu, which is also known as the Great Heat. Perhaps due to the need for restocking on Monday, the stainless steel market also showed signs of "warming up" compared to last week. The market was restless throughout the day. In the morning, attention was drawn to the "Ministry of Commerce's continued imposition of anti-dumping duties on imported stainless steel billets from Indonesia and other countries"; in the afternoon, the hot topic was the significant drop in stainless steel futures warehouse receipts:

📉 Significant Decrease in Stainless Steel Futures Warehouse Receipts

According to data from the Shanghai Futures Exchange, today's stainless steel futures warehouse receipts recorded 147,747 tons, a decrease of 39,847 tons from the previous trading day, a drop of 21.24%. This is the first significant inventory reduction on a trading day within the year, which has attracted considerable attention from the industry:

1. Voice 1: Level the market, deliver the warehouse receipts to agents, QS is the largest arbitrage company combining futures and spot trading.
2. Voice 2: The nearly 40,000 tons of warehouse receipts reduced corresponds to last week's GJ futures September short position of about 7,000 contracts closed (holding 9,000 contracts). This position belongs to QS, indicating it is a steel mill action.
3. Voice 3: The purpose of the significant reduction in positions by ZGGJ that day was to convert warehouse receipts into spot goods. All of Yongwang's warehouse receipts were converted into spot sales, totaling about 48,000 in East China and South China combined.
4. Voice 4: Today, while commodity futures are falling, why is stainless steel rising instead? It is due to the reduction of short positions, indicating that steel mills do not want to deliver in September and are selling spot goods to agents.
5. Voice 5: It is said that steel mills have instructed agents not to sell to futures and spot institutions, but the steel mills themselves are issuing warehouse receipts. After a rebate of 13550, it's about 13450 at the base.

Micro-comment: In the evening of Foshan, the sunset is particularly beautiful, spreading across the stainless steel circle of friends.

🌆 "Whether it's beautiful or not depends on the mood. You say such a market, the steel mill is in a good mood, so controllable. Like us, people who survive in the cracks, I feel that it is blood, the blood that the stainless steel people have shed with scars, and I don't have the mood to appreciate the beauty," said Old Iron.

Well, whoever is weak has reason, and whoever is hurt has the final say.

AmeriCan Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China