December 18, 2021 – Last week, several central banks announced measures to stabilise inflation. This had a positive effect on the stock markets and commodity markets and led to an upward trend in commodities from the middle of the week. In addition, on Friday, 17 December 2021, the European Commission officially launched the rolling review of the EU Safeguard measures on certain steel products. You can find out more about the Safeguard review with us on Monday.
Enormous metal demand for renewable energies until 2050
December 13, 2021 – The International Monetary Fund (IMF) currently reports that global metal demand for renewable energies could increase by 3 billion tonnes by 2050. Relevant raw materials for steel production, such as silicon metal, molybdenum, nickel and vanadium, would be particularly affected. EU stainless steel prices rose by over $100 per tonne in December. And LME and SHFE are positive today.
Stabilization of Chinese economy priority in 2022
December 14, 2021 – Economy stabilization in 2022: The Chinese government has made stabilizing the domestic economy a priority in 2022. Coal, steel and stainless steel futures up. Chinese aluminum inventories continue to empty, prices up as much as 1.7%. Aluminum scrap prices rise. Supply chain problems eased only slightly. Congestion outside U.S. ports remains at record levels. Demand remains high.
Eurozone industry off to strong start in Q4 2021
December 15, 2021 – Eurozone industry gets off to a strong start in Q4 2021. The production of industrial goods in particular picked up. EU aluminum premiums increased further. Explosion at US stainless steel facility leads to production stoppage.
Export tax cut on Chinese aluminum in 2022?
December 16, 2021 – Export taxes on Chinese aluminum products could fall in 2022. This is according to Chinese government documents we have been able to view. Ends EC aluminum anti-dumping suspension? The US Federal Reserve’s announcement to accelerate tapering is positively received by the markets. Base metal prices pick up. Demand greater than supply: there is a shortage of 1.3 million tons of primary aluminum.
Markets react positively to central bank announcements
December 17, 2021 – Commodity and equity markets have reacted positively to announcements by central banks in the United States, the European Union and the United Kingdom. Base metals on the LME and SHFE have risen significantly. Zinc jumps more than 4% on supply concerns. And EC competition regulators allow sale of Italian stainless steel producer.
More on the EU Safeguard measure
For more information on the EU Safeguard measure on certain steel products, see here.
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.
