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The current question is no longer, “What is the price of stainless steel?” but “Can I get sheets or coils at all?”

Update 2021: Crazy steel shortage 2021: Where to get stainless steel now?

Can I still get stainless steel sheets and coils at all?
Can I still get stainless steel sheets and coils at all?

This is exactly the one question that purchasers of stainless steel sheets and coils are asking themselves. For several weeks now, prices for steel and stainless steel have been rising worldwide. Demand has jumped unexpectedly. And large quantities of material are in demand, especially in the automotive industry.

Stainless steel mills not at full capacity

However, stainless steel mills have not yet returned to full capacity. Many blast furnaces have been shut down as a result of the Corona pandemic. The shortage on the market is also playing into the hands of manufacturers. They can currently drive up prices.

EU steel prices to rise, imports to fall further

Assofermet Acciai even goes so far as to say that the European steel market is in a state of panic.

Read article

Further rise in U.S. hot-rolled coil prices expected

For the United States, hot-rolled coil prices are also expected to rise sharply. Here, too, mills are driving prices up. Potential for $1,000/mt is expected in the US and probably even higher in Canada.

Read article

Stainless Steel: Producers cautious on capacity expansion

There are also fears that Chinese stainless steel stocks could run dry in the coming months.

Read Article

Nickel prices through the roof

The mills are being supported by a sharp rise in nickel prices.

Asian stainless cold-rolled coils recover as nickel rises

In Asia, mills are already raising prices to cover higher material costs, including nickel. On the London Metal Exchange, the nickel price has already risen to over $17,000/ mt.

Read article

London nickel climbs to 14-month high on fears of supply shortages

Nickel contracts on the Shanghai Futures Exchange even rose to over $20,000 per mt.

Read article

Cold-rolled stainless steel up $92/ mt from the previous week

In China, prices of cold-rolled stainless steel have risen by up to $92/ mt. According to one of our sources, in some cases even by over $150/ mt.

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Additional challenges in the freight business

It has already been apparent for a few weeks that freight rates are rising. This is also due to the pandemic situation this year. There are hardly any containers or free freight spaces to be found. Freight rates are almost only offered on a daily basis. This has led to the fact that almost only FOB can be offered.

Container freight rates: Looking Ahead

Freight rates have not even increased in the process, but have remained constant. However, the necessary material is not where it should be, and the surge in demand is driving prices up.

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Container freight rates from Asia rise to new highs – ‘it’s gone crazy’

It is also reported that freight rates from Asia to Europe have risen significantly. Some shippers have even closed their order books for weeks. Rising freight rates are also expected for the United States.

Read article

Conclusion

The market for stainless steel and steel is currently somewhat out of joint worldwide. Prices are rising and international producers are running out of available material. While the mills have not yet returned to full capacity.

This picture has been emerging for several weeks. In November, the media already reported on the growing problem.

European coil buyers go away empty-handed as more plants come off the market

The European market for hot rolled coils is in a buying frenzy over what is left of the material available from European mills for the end of the first quarter of next year as reported on November 26.

Read article

When this situation will change again is not foreseeable now. Currently, those who have built up a good network and are not dependent on a single source of supply have an advantage.

Do you have any questions about this topic?

Give us a call!

EU: +49 7642 9282851

US: +1 302 803 5865


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