China's stainless steel market to remain high
China’s stainless steel market to remain high

3 May 2024 – After the Labor Day celebrations in China, Asian analysts expect a further rise in the already increased demand for stainless steel. And according to the EU Commission, final energy consumption in Europe is to be reduced by up to 1.9% annually and is unlikely to be compensated for by renewable energies even in the event of additional demand.

China’s stainless steel market to remain high

Asian analysts currently assume that the surprisingly strong demand for stainless steel products in April is likely to continue after the Chinese Labor Day holidays. This is indicated by market sentiment, among other things, but also by the increased demand for nickel products in China.

EU energy consumption to be capped

It is not only European industry as a whole that is on the verge of transformation and therefore has a considerable additional demand for energy, but also many other sectors of the economy that are essential for the EU, such as telecommunications and IT infrastructure. One example of this is energy consumption in cloud computing, which could almost double by 2030.

A recent report by the International Energy Agency (IEA) predicts that the total electricity consumption of data centers could reach more than 1,000 terawatt hours (TWh) by 2026.

Even capping the consumption of renewable energies…

According to the EU Commission, however, energy consumption in the EU is to be reduced by 1.3 to 1.9% annually by 2030, while at the same time the expansion of renewable energies is to be driven forward.

The problem here is that, although many sectors of the economy demonstrably have a significant additional demand by 2030, this additional demand is not even likely to be covered by renewable energies if it exceeds the Commission’s energy saving targets. How is such a logical and economic transformation supposed to work?

It could hardly be more stupid

Once again a clear example of the green eco-madness that is being foisted on all Europeans for better or worse by the queen of bureaucrats in Brussels. “Europe is doing away with itself”, one might think, to put the book title of a former German SPD politician (“Deutschland schafft sich ab”) in a different but entirely appropriate context.

Of course, it is obvious that Ms von der Leyen is once again just window-dressing in order to secure the moral pioneering role, as the actual additional demand is simply to be shifted to Non-European countries instead of producing it directly in the EU.

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