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October 23, 2021 – A hot week, especially on the Asian commodity markets, is coming to an end. Here are the most important topics of the last week in our Stainless Weekend. Comfortable to read over a hot espresso.

Stainless Espresso: Metal values rise due to global energy shortage
Stainless Espresso: Metal values rise due to global energy shortage

Metal values rise due to global energy shortage

October 18, 2021 – Metal values on commodity exchanges rose again on Monday due to the global energy crisis. For nickel, aluminium, manganese it goes up. Outliers can definitely be spotted in Zinc and in Coke futures, which shoot up 8 and 9% respectively. However, there seems to be some positive relief in the tight freight market, at least for now.

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Stainless Espresso: Peak in commodity supercycle not yet reached
Stainless Espresso: Peak in commodity supercycle not yet reached

Peak in commodity supercycle not yet reached

October 19, 2021 – Goldman Sachs sees the top in the commodity supercycle not yet reached and expects it to continue for quite some time due to lack of capacity. Raw materials for European EV battery market are lacking. And South Africa’s Richards Bay bulk port, through which coal, raw aluminum, ferro-chrome and chrome ores are exported, is struggling again.

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Stainless Espresso: China announces possible action on coal prices
Stainless Espresso: China announces possible action on coal prices

China announces possible action on coal prices

October 20, 2021 – The government in China may be planning to take action on coal prices. SHFE reacts to this with slight price declines. Overall situation unchanged. However, prices will probably rise again. LME hardly reacts to announcement. Eurostat data show that Russia’s gas exports to the EU have increased significantly. Is the EC looking for halo effects in the energy crisis with black swan? And stainless steel scrap more expensive again in the EU.

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Stainless Espresso: Nickel rally 2021 - What happened?
Stainless Espresso: Nickel rally 2021 – What happened?

Nickel rally 2021 – What happened?

October 21, 2021 – Nickel rally: Surprisingly for many, nickel values on the LME and SHFE made massive gains on 20 October. At times they went up by well over 6%, sending nickel on the LME over $21,000 per tonne. In the meantime, things have calmed down again and we take a look at the background. Chinese alumina production is expected to fall further. And stainless steel prices continue to rise.

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