Today in Stainless Espresso: Domestically Chinese stainless steel prices rise. China and Latin America drive up Black Sea billet prices. And Varoufakis accuses von der Leyen of “outrageous greenwashing” in the EU.
China’s Domestic Stainless Steel Prices Rise on Pick-up in Demand
China’s domestic stainless steel prices increased last week due to a pick-up in demand. Although nickel prices are currently subject to some ups and downs, they are at a fairly stable level. Moreover, the nickel price has generally had at most a marginal impact on current prices in recent months.
China and Latin America Drive Black Sea Billet Prices
Despite a lot of talk in recent days about how China’s interest has shifted from the Black Sea billet, one thing is certain: Latin America keeps on coming back for more. Last week both countries caused billet prices to rise while other key markets like Turkey and North Africa pressured CIS supplies. The Black Sea billet market saw FOBs go over $580/mt last week supported by demand from two powerhouse regions!
‘Time to call EU out!’ Varoufakis challenges von der Leyen on ‘outrageous greenwashing’
The EU has been criticized by a leading economist for “outrageous” plans that would massively exaggerate its environmental credentials.
EU Commission President Ursula von der Leyen has been accused of “greenwashing” over the EU’s controversial planned green revolution.
After her 2019 rules were deemed too strict, the Commission is considering significantly weakening the requirements to satisfy industry while still appearing green. Economist and politician Yanis Varoufakis criticizes the planned project.
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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.