Taigang Xinhai's Annual 1.62 Million Tons Stainless Steel Project Completed Environmental Protection Acceptance Publicity; Stainless Steel Futures Rise by 120 Yuan
Jul 03, 2024
Posted on July 3, 2024
The 300 series cold rolling has reduced inventory for the third time, with the total weekly inventory of stainless steel in Foshan decreasing by 2.24%.
Today, the spot market for 304 cold rolling by Qingshan's agent remained stable, with traders' quotes fluctuating by 20-50. Hot rolling remained mostly flat, with some narrow strip resources offering discounts for transactions. 201 hot rolling mostly remained stable, with some narrow strips offering discounts of 20 for sales. Cold rolling agents and traders almost maintained the same quotes, with the mainstream quotes still around 8050-8100 basis points, and the market is somewhat cautious in trading. 430 hot rolling mostly remained flat, with cold rolling partially falling by 50.
Today, the mainstream quote for private 304 cold rolling four-foot rough base in Wuxi is 13,500 yuan/ton, unchanged from last Friday; the price for private hot rolling is reported at 13,450 yuan/ton, an increase of 100 yuan/ton from last Friday. For 201, the market atmosphere of rising and falling is not obvious, with cold and hot rolling mainly remaining flat, with Hongwang J1 cold rolling four-foot at 8800 yuan/ton, J2 cold rolling four-foot at 8050 yuan/ton; Dingxin J1 hot rolling at 8600 yuan/ton.
Taigang has successfully applied for a patent titled "Ferritic Stainless Steel Coil for Bicycle Rims and Its Manufacturing Method", with the application published as CN118256698A, dated February 6, 2024.
On June 26, Taigang Xinhai Stainless Steel Co., Ltd. announced the completion of the environmental protection acceptance for its annual 1.62 million tons of stainless steel alloy material project, with the public notice period from June 26, 2024, to July 23, 2024.
Recently, Taigang has developed a new product specifically for the famous Chinese scissors brand Yangjiang Shibazi. After nearly half a year of testing, the product has been fully affirmed by the customer. This is another successful case of Taigang implementing a differentiated strategy to tailor exclusive products and provide comprehensive services for key customers.
On June 28, the construction of the second 25900DWT stainless steel chemical tanker for Xing Tong Hai Yun Co., Ltd., a subsidiary of Xing Tong Hai Bao Shipping Co., Ltd., officially started.
On June 20, the State-owned Assets Supervision and Administration Commission of the State Council announced the latest "Science and Reform Enterprise" list, which includes Taigang Stainless Steel Co., Ltd.
The Hubei Hail stainless steel kitchen utensils project, which started in July 2023, was completed and put into production in June 2024. Once fully operational, it can achieve an annual output of 1 million sets of stainless steel commercial kitchen utensils, with a value exceeding 400 million yuan.
On July 1, the quotation from Jinchuan Company was as follows: Shanghai electrolytic nickel (slab) 137,500 yuan/ton, barreled small pieces 138,700 yuan/ton, an increase of 900 yuan/ton from last Friday.
At present, Zhongwei shares that the company's smelting projects have been successively put into operation, and the capacity is still in the climbing stage, which has a certain impact on the self-sufficiency rate and gross profit margin of nickel resources, with the self-sufficiency rate of nickel resources around 20%.
Recently, Chengdu Huayou Energy Technology Co., Ltd. was established, with equity data showing that the company is jointly held by the wholly-owned subsidiary of Huayou Cobalt, Zhejiang Huayou Recycling Technology Co., Ltd., and others.
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