After a short setback on Thursday, June 3, 2021, the nickel has stabilized again today. And all the world is looking tensed to Brussels: has the end of EU Safeguards come? There is a possibility that there will be an update today.
Update: Serious EU stainless steel shortage and no Safeguard decision yet
Data, facts, figures: US labor market makes nickel twitch briefly
After the nickel on the LME had to accept a setback of about $ 500 per ton yesterday, Thursday, June 3, 2021, and had also fallen on the SHFE by just under $ 300, it shows itself stable again today, Friday.
The background seems to have been the good labor market data in the United States and the strengthening dollar.
EU Safeguard measure: Is the new draft coming today?
If the Europeans stick to their usual schedule, the new draft for the future of the EU Safeguards (Case Safe009R4 – Steel products (certain)) could possibly be published today, June 4, 2021.
Expiry Review on the anti-dumping case against China and Taiwan.
Also in the realm of possibility, however, is that the European draft for the expiry review on anti-dumping Case R722 – Stainless steel cold-rolled flat products concerning the People’s Republic of China and Taiwan will also appear soon.
What will happen to EU Safeguards?
The future of the EU Safeguard measures has been the subject of heated public debate in recent months. Even though market sources claim to already know about an extension of Safeguard, the outcome is still officially uncertain.
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Read also:
- Stainless Espresso: Nickel inventories on LME and SHFE decreased
- Stainless Espresso: 25 steel producers must shut down plants
- Stainless Espresso: Waiting is not an option at present!
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