21 February 2022 – Raw material prices continue to rise, at the same time steel prices are trending upward. Nickel close to $25,000 per tonne. US federal court upholds anti-subsidy measure against Chinese aluminium imports. And Indian steel prices hit record high and continue to rise.
Raw material costs rise, steel prices continue upward trend
Prices for raw materials in aluminium and stainless steel production continue to rise. Already last week, the markets and also the prices for raw materials had risen significantly. On the SHFE, nickel in particular rose by over 1.56% on Monday. Iron ore on the DCE even rose by 4.74%. And coking coal prices are also up by more than 3.5%. Commodity values on the European LME are already following suit and nickel is close to $25,000 per tonne.
Price increases expected for stainless steel and steel
This should fuel steel and stainless steel prices, which have already gained between 0.5 and over 2% today and are continuing their upward trend from last week. Many steel producers have already announced price increases for March 2022 in recent days. This calls for action.
USA: Anti-subsidy measure against Chinese aluminium maintained
US anti-subsidy duty margins on imports of aluminium extrusions from China remain unchanged after a federal trade court on Friday upheld the Commerce Department’s decision to treat the cheap supply of glass to Chinese producers as a countervailable government subsidy.
The US is maintaining countervailing duties on Chinese aluminium extrusions, simple metal shapes including parts for curtain walling. The Department of Commerce conducted a periodic review of duties on extrusions imported into the US in 2013.
India: Steel prices at all-time high
Indian prices for long steel products climbed to an all-time high in futures and spot markets today. High domestic demand, higher raw material prices and scarce energy supplies are not only causing problems for Indian aluminium producers, but are also pushing up steel prices on the subcontinent.
- Broad steel price increases in Asia for March 2022
- Plate prices of EU re-rollers are raised amid strong demand
- Demand for stainless steel high, markets optimistic
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