10 October 2023 – Will the anti-circumvention proceedings against stainless steel from Indonesia boomerang on EU mills? There are indications that this is the case. Nickel price in Asia rises by about 1.8%. And be careful where you ship stainless steel.
Nickel prices up in Asia
Nickel prices on the Asian SHFE have risen between 1.3% and about 1.8% today. Spot market prices for nickel have also risen by up to 2.0% in China. Prices for 304 stainless steel scrap have been holding steady since mid-August and have and have increased by just over 8% in the last 6 months.
Are anti-circumvention actions now coming against EU stainless steel?
The argumentation of the EU stainless steel producers in the current EU anti-circumvention proceedings against cold-rolled stainless steel from Turkey, Taiwan and Vietnam via Indonesia, as already in the anti-circumvention case against hot-rolled stainless steel from Turkey, is based on an alleged lack of or minimal added value from slab to hot-rolled to cold-rolled. The fact that this is a bold claim based on fragile figures is likely to lead to some further discussion.
Stainless steel slabs from Indonesia
But if we take a closer look at this point of the lack of added value and look at the official statistical data from EUROSTAT regarding the flow of stainless steel slabs originating in Indonesia for the years 2019, 2020, 2021 and 2022, we might ask the heretical question at what point some European producers of cold-rolled stainless steel would have to be told that their added value from slab to coil is too low? Because this would mean circumventing the existing anti-dumping and anti-subsidy measures against cold-rolled stainless steel from Indonesia.
EU27 Imports of Stainless Steel Slabs from Indonesia – 2018 to 2022
After all, at least two names known in Europe or the world can be found here in the relevant databases. People! How mendacious can you actually be?
Stainless steel: Be careful from where you ship it
As you know us, we always warn you about dangerous offers. Currently, offers of stainless steel cold rolled from Taiwan to Europe are entering the market. These pretend to come from origins other than those currently affected by the anti-circumvention investigation.
Please bear in mind that in such a case the material is still shipped from Taiwan and thus subject to registration under the customs number established for the current proceeding. And thus could also be affected by possible measures.
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We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.