2025 Shanghai Steel Union New Year Gathering - Scrap Steel Shaoxing Station Successfully Concluded
Feb 21,2025
The 2025 Shanghai Steel Union New Year Gathering - Scrap Steel Shaoxing Station was successfully held on the afternoon of February 20, 2025, at our company.
This conference was jointly hosted by Shanghai Steel Union E-commerce Co., Ltd. and Zhejiang Youyi New Materials Co., Ltd. Jointly organized.
The meeting began at 2:30 PM and was chaired by Mr. Xu Yanjun, Deputy General Manager of the Shanghai Steel Union Scrap Steel Business Department.
Meeting Opening Start Before Mr. Zhang Ruiyang, Chairman of Zhejiang Youyi New Materials Co., Ltd. Mr. Zhang Ruiyang delivered a wonderful opening speech for the gathering, Wonderful wishing the meeting a complete success.
Next, the meeting officially entered the thematic speech session:
First, Mr. Xue Hongchao, Zhejiang Provincial Editor of the Scrap Steel Business Department of Shanghai Steel Union E-commerce Co., Ltd., gave a thematic sharing on "Review of the 2024 Scrap Steel Market and Outlook for the First Quarter of 2025." Reviewing 2024, Zhejiang Province's crude steel output was 14.1556 million tons, a year-on-year decrease of 301,900 tons. Zhejiang Province's share of crude steel output is small, and overall, the demand for scrap steel in Zhejiang Province is not high. The focus of China's economic development and the concentration of the steel industry will still be in East China, South China, and North China. Looking forward to the first quarter of 2025, the overall manufacturing industry's resumption of work will be delayed compared to 2024. Looking at the inventory of raw materials for downstream manufacturing industries, there is not much change. The inventory of automobiles and home appliances has increased slightly month-on-month, while the inventory of machinery and steel structures has remained basically flat. The policy focus remains on people's livelihood and new driving forces, as well as debt reduction and risk prevention.
Following this, Mr. Luo Qiang, Deputy Manager of the Raw Materials Department of the Stainless Steel Business Department of Shanghai Steel Union E-commerce Co., Ltd., gave a thematic speech on "Review of the 2024 Scrap Stainless Steel Market and Outlook for the First Quarter of 2025." Reviewing 2024, the scrap stainless steel industry has more than 10,000 participants, with the largest proportion being individual households, accounting for more than 50%. The usage of scrap stainless steel has increased from 2.7% ten years ago to 21.4% today, and there is huge room for improvement in the next 5 years. Looking forward to 2025, with the influence of favorable macroeconomic policies, crude steel production may continue to increase, but the reduction in new production capacity will slow down the overall growth rate. In terms of supply, domestic scrap stainless steel prices have continued to fluctuate at low levels, and the import advantage has decreased. China's import volume is expected to remain relatively low. It is expected that the price of scrap stainless steel in 2025 will be more closely linked to finished products.
Subsequently, Mr. Wang Guodong, Non-ferrous Metals Researcher at Changjiang Futures Co., Ltd., gave a thematic speech on "Continued Surplus, Bottom Nirvana - Nickel Market Outlook and Hedging Tool Application." In 2024, the price trend of stainless steel was similar to that of nickel, but the volatility was less than that of nickel. For the whole year, the demand for stainless steel was flat and not a major influencing factor in the market. Price fluctuations mainly came from cost-side disturbances. Looking forward to 2025, in terms of supply, global nickel iron and nickel sulfate will maintain an expansionary trend, and refined nickel is expected to continue to increase production. In terms of demand, ternary batteries will remain the core growth factor for future nickel demand, and growth in alloys and stainless steel is expected to be stable. Overall, the surplus of primary nickel supply is expected to continue in 2025, and demand will maintain growth but lack highlights.
Finally, Mr. Jin Xionglin, Chief Scrap Steel Analyst at Shanghai Steel Union E-commerce Co., Ltd., gave a thematic speech on "Review of the 2024 Steel Market and Outlook for the First Quarter of 2025." Reviewing 2024, the global economy performed weakly overall, with uncertainty and complexity coexisting, and global trade protectionism rising. The construction area of real estate, the newly started area, and the performance of rebar have been negative year-on-year, and real estate continues to drag down the demand for rebar, and the general direction has not changed. Large-scale equipment upgrades and policies for replacing old consumer goods with new ones are beneficial to the demand for steel used in manufacturing. It is expected that the demand for steel used in manufacturing will continue to increase in 2025. Looking forward to the first quarter of 2025, the contraction of steel mills' profits after the festival is quite clear, and steel mills' profits will once again be tested. At the same time, low steel inventory is the result of market shrinkage, and policies are unlikely to exceed expectations and cannot drive steel prices to rise significantly. The conditions for a sharp rise in steel prices are not in place, and the industry is still in a state of oversupply, especially the oversupply of raw materials is even more serious. Future cost reductions will drag down steel prices.
Thus, the "2025 Shanghai Steel Union New Year Gathering - Scrap Steel Shaoxing Station" came to a successful conclusion. After the meeting, all participants took a commemorative photo and had a dinner together at our company, enjoying a harmonious atmosphere. Thank you again Shanghai Steel Union E-commerce Co., Ltd. and all the guests who attended!
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