Some interesting market data await us in the coming week. Politically it should remain quiet – but you never know. In addition, stainless steel prices picked up significantly last week, as we expected.
IHS Markit offers an exciting outlook for the coming week.
After global purchasing managers’ indexes showed the strongest growth in 11 years in April, official economic data will be of interest to track the recovery momentum as well as the potential impact of faster growth on inflation, IHS Markit analysts write.
What awaits us the next week?
Consumer and producer price inflation for April will be released from the U.S. and China, as will retail sales and industrial production for China. Meanwhile, the GDP review continues with the release of first-quarter figures from the U.K., Malaysia and the Philippines, as well as factory production figures for the eurozone. A quiet political week is ahead, with central bank meetings only in the Philippines.
For a comprehensive analysis, click here.
Stainless steel prices in Europe continue to rise
After we reported earlier that prices could rise due to VAT rebate cuts on Chinese steel exports, the latest figures from Fastmarkets confirm the trend we expected. Stainless steel prices in Europe rose by at least $243 (€200) per ton last week.
- Stainless Espresso: GCC Safeguard measures, and scrap is up again
- Stainless Espresso: Caught between record profits and scarce steel
- Stainless Espresso: Scrap, iron ore and nickel continue upward trend
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.