28 March 2022 – Will the suspension of the EU aluminium anti-dumping measure AD668 against Chinese imports be extended? Or will the European Commission continue to crack down on imports from China? Shanghai, a Chinese metropolis with millions of inhabitants, is going into Corona Lockdown. And European steel prices continue their upward trend.
China: Shanghai goes into lockdown
Chinese authorities in Shanghai have imposed the biggest lockdown on the metropolis of millions since the outbreak of the Corona pandemic in 2020. More than 25 million people are affected by the lockdown in China’s economic heartland. According to authorities, first the eastern part of Shanghai will be completely shut down from 28 March to 1 April and then the western part from 1 to 5 April. New lockdowns have already been reported from other major cities and provinces, such as Tangshan, in recent weeks.
EU steel prices continue upward trend
Steel prices in the European Union continued to rise last week. This upward trend in steel prices, which now also seems to have been recognised by the latest consulting agency, is likely to continue in 2022.
The significant decline in the availability of steel from Russia and Ukraine, the increased raw material costs and the overall high demand are likely to keep prices at a high level, if not increase further.
EU aluminium anti-dumping case enters hot phase
The EU anti-dumping monitoring case AD668Mon, which monitors the suspension of the EU anti-dumping measure against flat-rolled aluminium imports from China, is entering its hot phase. While a significant increase in aluminium imports from China to the European Union could already be observed in recent months, imports in February 2022 had more than quintupled compared to December 2021. This is likely to further fuel the discussion about an end to the anti-dumping suspension in the next few months.
SHFE and LME at stable high levels
SHFE Base Metals have shown high stable levels today. Nickel has adjusted to last Friday’s LME nickel prices on the Chinese SHFE. The LME has also started nickel trading with slight losses. However, nickel prices remain at around $33,500 per tonne, the highest level since June 2007.
Aluminium is currently at about $3,600 on the LME, copper at about $10,240 and zinc at about $4,066 per tonne.
- LME bans submission of orders outside daily price limits
- Stainless steel prices continue to rise
- Nickel +14.97%: LME cancels nickel trades again
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