Stainless Steel Weekly Inventory Slightly Increased with Significant Pressure, Awaiting Downstream Demand Expansion to Alleviate Pressure [SMM Analysis]

March 14, 2025—From March 7 to March 13, 2025, stainless steel inventories in Wuxi and Foshan markets showed varying degrees of change across all series, with total inventory rising to 1.0117 million mt, up 0.63% WoW. Downstream purchases remained below expectations, leading to significant inventory pressure in the market. By region and series, in the Wuxi market, 200-series inventory decreased from 103,700 mt to 100,500 mt, down 3.09% WoW, mainly due to limited arrivals from stainless steel mills and higher prices stimulating some enterprises to pick up goods. 300-series inventory increased from 377,800 mt to 380,900 mt, up 0.82% WoW, primarily due to higher arrivals from stainless steel mills, with many products concentrated in delivery warehouses. 400-series inventory dropped from 90,600 mt to 90,600 mt, down 3.57% WoW, mainly because of relatively small supply volumes, limited arrivals, and strong market acceptance of this series, resulting in destocking. In the Foshan market, 200-series inventory decreased from 176,800 mt to 176,800 mt, down 0.79% WoW, as downstream restocking was active during the local price increase period. 300-series inventory rose from 205,400 mt to 214,500 mt, up 4.43% WoW, as a large volume of overseas products arrived this week, with limited market absorption, leading to inventory buildup. 400-series inventory slightly declined from 49,900 mt to 49,800 mt, down 0.20% WoW. Overall inventories in Wuxi and Foshan markets, as well as 300-series cold-rolled inventory, showed slight WoW increases. The peak season of March and April has not materialized, and with March already halfway through, downstream new orders remain limited. Current inventory levels and production schedules on the supply side indicate continued supply pressure. It is expected that demand may rebound in mid-to-late March, potentially alleviating inventory pressure, though uncertainties remain. Future developments will require monitoring the destocking pace of social inventory. If demand improves and destocking accelerates, the supply-demand structure will improve, providing price support. Conversely, if demand falls short of expectations, leading to inventory accumulation, the market will face downward pressure. Additionally, steel mill production schedules, raw material price trends, and macro policies will continue to influence stainless steel market inventories and prices. For any inquiries regarding stainless steel inventory, please contact Chaoxing Yang at 13585549799 (WeChat available). 》Click to view historical SMM stainless steel spot prices 》Click to view the SMM stainless steel industry chain database

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