Recently, due to the rising price of nickel ore and the shortage of domestic high-nickel iron supply, domestic high-nickel iron factory quotations have risen again and again, and the price of nickel iron purchased by steel mills has also risen with the tide.
The spot price of stainless steel 304 has also soared due to factors such as the opening of steel mills, soaring futures, insufficient spot inventory, and rising raw materials. So what is the current profitability of steel mills?
According to data from 51bxg, the ex-factory price of high-nickel iron increased by 110 to 1,110 yuan per nickel from the beginning of the month. The quotation of 304 waste stainless steel primary materials increased by 200 to 9,850 yuan/ton from the beginning of the month (Dainan), and the Yangtze River spot nickel plate quotation increased by 6,700 to 115,850 yuan/ton from the beginning of the month.
From the cost model monitored daily by 51bxg, the cost of 304/2B complete nickel-iron is about 14,300 yuan/ton, an increase of 910 yuan/ton from the beginning of the month; the ordinary cost is about 14,450 yuan/ton, an increase of 730 yuan/ton from the beginning of the month.
At present, the Wuxi market 304 cold-rolled private 2.0mm raw edge price is 14,800 yuan/ton, an increase of 900 yuan/ton from the beginning of the month. The increase is equivalent to the increase in the cost of full nickel and iron. The profit margin of steel mills per ton of steel has not changed much from the beginning of the month, but due to the recent high nickel Iron has skyrocketed, which is still 360 yuan/ton lower than the highest profitability level this month.
