A new week has begun. That’s when the eyes first turn to what you really need to know. What are the base metals doing, where does nickel stand, what are stainless steel prices doing and what else could be in store this week. Read that now in a nutshell in your Stainless Espresso!
Good start for base metal spot prices
On the SHFE, the metals on the spot market this morning were mostly in the plus. On the LME and SHFE, the nickel contracts showed slight weakness. However, spot nickel prices were up.
Stainless steel futures robust
Stainless steel futures prices on the Shanghai Futures Exchange are robust at the start of the week.
What will be important this week
Monday, June 7, 2021
Germany | Industrial new orders in April. Growth in orders is expected to have continued at the start of the second quarter, although at a slightly slower pace than in March.
Switzerland | Consumer prices in May. Mainly due to higher energy prices, the inflation rate is likely to have risen further and thus remain above the zero line once again.
Eurozone | Sentix Investor Confidence: In June, the sentiment of investors surveyed may have improved somewhat compared with May.
Tuesday, June 8, 2021
Germany | Industrial Production in April. Although not quite as dynamic as in March, production by German industrial companies is expected to have increased moderately in April.
Germany | ZEW Indicator of Economic Sentiment for June. The medium-term expectations of the analysts and institutional investors surveyed are likely to consolidate slightly above the level of the previous month.
USA | NFIB SME Index in May. The index, which measures the optimism of SMEs, is expected to slightly exceed the already high level of April.
China | Consumer and Producer Price Index for May. A further significant increase in producer prices in particular is expected.
Wednesday, June 9, 2021
Germany | April trade balance. Due to the economic revival in many economies, a slight increase in exports is forecast for April.
Canada | Bank of Canada interest rate decision. After the last meeting of the Canadian central bank already saw a shift away from the very expansive monetary policy, the monetary watchdogs are unlikely to come up with any surprises this time.
Thursday, June 10, 2021
Eurozone | Interest Rate Decision by the European Central Bank (ECB). Market participants will pay particular attention to whether the ECB will maintain the current accelerated pace of bond purchases under the Pandemic Emergency Purchase Program in the coming weeks.
USA | Consumer prices in May. Inflation is expected to rise further from the already high level of the previous month.
Friday, June 11, 2021
United Kingdom | Gross Domestic Product in April. Due to the first opening steps after the pandemic-related restrictions, a robust increase in the UK’s economic output in April compared with the previous month is expected.
USA | University of Michigan consumer confidence in June. The index should show a further increase in consumer sentiment. In addition, U.S. consumers’ medium- to long-term inflation expectations may attract interest.
G7 countries | Representatives of the G7 countries including the additionally invited representatives of India, Australia, South Korea and South Africa will meet in Cornwall over the weekend.
Source: deutsche-bank.de
Asian media expect EU Safeguard decision soon
The Asian media are increasingly reporting an possible announcement by the European Commission regarding the future of EU Safeguard measures.
Read also:
- Stainless Espresso: Serious EU stainless steel shortage and no Safeguard decision yet
- Stainless Espresso: EU Safeguards before their end?
- Stainless Espresso: Nickel inventories on LME and SHFE decreased
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.
