5 September 2022 – The prices of Asian nickel contracts jumped on Monday, in some cases significantly. Italian steelmakers are demanding support from the state. And stainless steel prices in China are rising.
Nickel race in China
Nickel prices on the Chinese SHFE jumped significantly on today’s trading day. With gains of more than 5.5% in some cases. This should also have an impact on European nickel prices.
Chinese stainless steel prices rise
Not only have Asian stainless steel futures risen by 2% today, but Chinese spot prices for stainless steel are now also rising more sharply.
Italian steel producers call for support
Italian steel producers have demanded support from the government. Otherwise, they would not be able to maintain the operation of their blast furnaces due to the increased energy costs. And they would eventually have to shut them down. Already last week, the Italians had sent further increases in their energy cost surcharges into the media race.
Meanwhile, other media are also reporting on the EAF shutdowns of major European stainless steel producers.
- EU unhappy about South African scrap export ban
- Strong increase in demand for HRC
- European stainless steel mills shut down
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.