14 January 2022 – EU coil prices are stable and market participants expect further price increases. Steel sections are also continuing to rise due to increased energy prices. And Deutsche Bank also reports rising industrial metals.
EU coil prices stable, rising prices expected
European steel buyers report stable and probably rising prices in the EU coil segment. EU coil prices are expected to remain at a high level. Energy and raw material costs are the factors that will continue to keep prices up, according to buyers.
Steel Sections: European prices continue to rise
European producers of steel sections also saw prices rise again last week, according to market sources. By up to $ 115 per tonne due to increased energy costs.
Deutsche Bank: Industrial metal prices continue to rise
The six industrial metals traded on the London Metal Exchange are also in demand at the beginning of the year. The prices for nickel in particular rose by around seven percent in the first three trading days of this week to their highest level since August 2011. This is reported by Deutsche Bank in its current newsletter.
Inventories on the London Metal Exchange have been falling for exactly 50 days
On the one hand, an electric car manufacturer secured the future production of a nickel producer for the long term via futures contracts at the beginning of the week. On the other hand, inventories on the London Metal Exchange have been falling for exactly 50 days, which was last the case in 2000.
Indonesia: Is the nickel export tax coming?
In addition, Indonesia, one of the most important nickel-producing countries, is considering an export tax that could be introduced as early as 2022. Foreign buyers are therefore now bringing forward their purchases originally planned for later.
Nickel supply deficit of 30,000 tonnes possible
If demand from growing electromobility continues, Deutsche Bank expects a nickel supply deficit of up to 30,000 tonnes in 2022.
- Chinese stainless steel supply chains affected by Corona measures
- Base Metals in the wake of rising energy prices
- Nickel and stainless steel prices rise significantly
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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.