Today in Stainless Steel Espresso: The difficult situation of European stainless steel buyers. And the search for solutions. India exhausts its Safeguard quota on the first day. And in Germany, steel is running short.
Lack of imports exacerbates EU stainless steel shortage
The shortage of stainless steel strip and sheet in Europe has reignited the European Commission’s (EC) market discussion on safeguard quotas.
Stainless steel shortage known since late 2020
Toward the end of last year, it became apparent that material shortages for several grades and sizes of hot-rolled and cold-rolled coils would be a major problem in the first half of 2021. However, prices in Asia climbed as raw material costs increased and freight rates more than doubled due to container shortages.
Stainless steel imports challenging for many European buyers
This, along with EC safeguard quotas and anti-dumping measures, discouraged many European stainless steel buyers from ordering imports to supplement their local supply.
Expert opinion: there are solutions to your sourcing challenges
Thorsten Gerber, CEO of the international Gerber Group on this topic: “The EC has created high hurdles for stainless steel importers with Safeguard and other market protection measures that leave little room for maneuver. However, with the right partner, opportunities and solutions can be found. If you have any questions about this, please contact us now.”
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India exhausts EU HRC quota on first day
Indian suppliers exhausted their quota for hot-rolled coil shipments to Europe in the second quarter on the first day of the new three-month period, according to European Commission (EC) data. Fastmarkets reports this on its website.
German steel market expects further price increases amid limited domestic supply
As reported by S&P Global Platts, prices are expected at Eur900/mt ex-works Ruhr. The EU market is becoming increasingly eager for imported material. Inventories are falling faster than production. Further production delays are expected.
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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.