China once again adopted an "asymmetric" interest rate reduction policy in August, with the one-year LPR lowered by 10 basis points to 3.45%, while varieties over 5 years remained unchanged at 4.20%. This policy reflects the policy orientation of stabilizing bank interest margin levels while supporting residents medium to long-term credit. In the future, monetary policy may continue to maintain a loose monetary policy, and there may be further interest rate and reserve requirement reductions within the year. There is a high possibility of a new round of reserve requirement reduction policies

On August 18th, the central bank released a monetary policy execution report. The report mentions that the macroeconomic situation is expected to continue to improve, and monetary policy needs to be precise and strong to firmly support the recovery of the real economy. At the same time, the unemployment data and manufacturing index in the United States also show certain fluctuations, bringing some uncertainty to the market.

On January 9th, the Stainless Steel Branch of the China Special Steel Enterprise Association announced the results of the online public vote for the top ten stainless steel news in China in 2022. It is expected that Chinas stainless steel production will reach 31.5 million tons in 2022, a year-on-year decrease of 3.5%, and will experience negative growth in the past decade. The following are the top ten news items for Chinese stainless steel in 2022 selected by the vote. Firstly, the SUS630 stainless steel cold-rolled plate of Taiyuan Iron and Steel Group has successfully replaced imports, solving the "bottleneck" problem in Chinas printed circuit board industry. On February 21, 2022, Taiyuan Iron and Steel announced that after nearly three years of system research and continuous improvement, Taiyuan Iron and Steel achieved stable supply of precipitation hardened SUS630 stainless steel cold rolled sheet products in bulk, becoming the first enterprise in China to provide such products. This product solves the "bottleneck" problem of key basic materials in Chinas electronic circuit industry, and helps Chinas electronic circuit printed circuit board industry move towards high-end. At present, the linear expansion coefficient, flatness, same plate difference, surface quality, and surface roughness of Taigangs products can meet the strict requirements of users.

Today, the stainless steel seamless pipe market is still experiencing a greater increase in market volume than in spot prices, especially with the main contract for raw iron ore rising by over 4%. Unstoppable all the way, rising steadily. Why is iron ore so strong? From the perspective of the market, raw iron ore, coking coal, and coke have just completed the main contract switch, and the discount spot price of the main contract is even greater. Surprisingly, the increase in 01 contract today is higher than the increase in 09 contract, and the prices of coking coal and coke 09 contract have closed down, but 01 contract has risen. This at least indicates that the expected reduction in production is already weakening in the face of deep discounts on the market. But from a time perspective, speculation in the distant months must be driven by expectations and capital, and has nothing to do with reality

On August 22nd, the closing price of the stainless steel main contract was 16075 yuan, an increase of 110 yuan. The spot market for stainless steel shows a positive price sentiment, with the rapid rise in nickel iron trading prices, leading to a significant increase in stainless steel production costs and maintaining high market prices. The steel mills have shown a clear atmosphere of price appreciation, and the futures market has also shown a strong willingness to pull up, with high consolidation being the main focus. Specifically, the quotation for Qingshan 304 stainless steel water is 11100 yuan/ton, and it is expected that the scrap stainless steel market will continue to fluctuate and rise today