Alloy surcharges for June will increase significantly
Alloy surcharges for June will increase significantly

21 May 2024 – The stainless steel alloy surcharges for June 2024 will increase significantly. This is not only shown by the substantially higher nickel and molybdenum prices, but also by the first publications from stainless steel mills. Dispute over responsibilities: ‘Pfizergate’ continues to weigh on European elections. And iron ore prices on the DCE continue to rise.

Stainless steel alloy surcharges for June 2024 will increase significantly

The first publications on alloy surcharges for stainless steel already indicate what can be expected from EU and US stainless steel producers in the coming days: Significant increases in alloy surcharges.

Molybdenum and nickel prices up between 7 to 9%

The background to the expected increases in alloy surcharges is the rise in nickel prices by more than 9% compared to the previous month. However, an increase in molybdenum prices of more than 7% is also expected to have an impact on alloy surcharges for stainless steel grades with a molybdenum content (e.g. 316L).

This significant increase once again clearly shows how dangerous it is to rely exclusively on so-called experts.

Pfizergate: Belgian court postpones hearing until December

There is still a dispute over jurisdiction in the proceedings against Commission President Ursula von der Leyen in the so-called ‘Pfizergate’ scandal.

At the end of a hearing before the Council Chamber in Liège on Friday (17 May 2024), the Belgian judiciary decided to postpone the case until 6 December in order to give the various parties time to discuss several procedural issues in writing, such as the conflict of jurisdiction between the Belgian investigating judge and the European Public Prosecutor’s Office.

Von der Leyen weighs heavily on her own party in election campaign

By setting this date well after the European elections in June, the jurisdictions have obviously given themselves some breathing space and taken themselves out of the line of fire. However, this is unlikely to benefit Ms von der Leyen’s reputation, as she is taking the serious accusations of ‘usurpation of functions and titles’, ‘destruction of public documents’, ‘illegal safeguarding of interests’ and ‘corruption’ into the election, thereby placing a heavy burden on her own party.

Iron ore prices climb to three-month high

Iron ore prices on the Dalian Commodity Exchange (DCE) continued their rise today, Tuesday. The September contract, which had already reached a new three-month high yesterday, rose again today and is currently up by more than 1.5%. Positive signals from the Chinese construction industry have caused iron ore prices to rise again for some time.

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