After a short break in week 8, today with a review of calendar weeks 8 and 9 in the steel world. The topics: Nickel, stainless steel prices, EU Safeguard measures, ongoing supply shortages and the alloy surcharges.
A brief overview of the last two weeks in the stainless steel world
Nickel prices drop significantly on the SHFE and LME
After we already had a lot on the topics of stainless steel and nickel in the week before last, then came the official announcement from the EU that the Safeguard measures are being reviewed. And then the drumbeat in the current week, when the nickel prices have significantly collapsed due to reports of a really big nickel deal.
Stainless steel prices currently barely affected by nickel price
But what’s interesting is that stainless steel prices have barely reacted to the plummeting nickel. As we have heard from informed sources, steelmakers are more concerned with other issues at the moment. Iron ore, chrome, scrap prices and finally, and there is still no improvement in sight, availability.
Stainless steel shortage on the market – what’s going on and what to do now
Everyone should have noticed by now that steel and stainless steel are currently in short supply. Prices are going through the roof and delivery times have reached the fall of 2021. It’s a problem that started last year. We have taken a look at how the stainless steel shortage is progressing and put together 5 valuable tips on what is best to do now.
EU Safeguard measures under review
On February 26, the EU officially announced that Safeguard measures will be reviewed. In addition to a coalition of steel consumer associations, ACEA, APPLiA, CECE, CEMA, CEMEP, CLEPA, Orgalim and WindEurope, independent stainless steel trader Thorsten Gerber, CEO Gerber Steel GmbH, has written a letter to the EU Commission calling for an end to Safeguard.
Alloy surcharges for March 2021 published
Stainless steel producers have published their current alloy surcharges. And we have taken a more intensive look at developments on the raw material markets. We have summarized where the journey is heading. Even though the markets have been shaken up a bit in the meantime, the outlook has primarily remained the same.
The most read articles this week
Critical: No, stainless steel prices are not falling
Crazy steel shortage 2021: Where to get stainless steel now?
Nickel export ban: Indonesia ready to fight this dispute with European Union (EU) at WTO
8 Facts about: Recovery in European steel consumption outstrips production growth and keeps prices high
Gerber Steel GmbH urges end to EU Safeguard measures
European steel users urge EU Commission to end threat of safeguard measures
Alloy surcharges March 2021: Rapidly rising raw material prices and shortages set the trend
Nickel falls – Who is to blame? Nornickel or Tsingshan?
If that’s not enough news, there’s plenty more information to be found here.
Outlook for the coming week
In the coming week, it will be exciting once again to see where the commodity markets are headed. In addition, China’s 14th Five-Year Plan is on the agenda. Where is the Middle Kingdom headed? There is now much talk that the People’s Republic wants, if not needs, to head for a greener future. We will certainly look at the final plan.
The media already have quite a bit of information on this
The Guardian: China’s five-year plan for economy is crucial to meeting net zero by 2060
Deutsche Welle: Is China’s five year plan a decarbonization blueprint?
Nasdaq: China to cut energy intensity, but no consumption cap in new 5-year plan
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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.
