3 February 2023 – Molybdenum prices continue to rise. Pure molybdenum is more than $100,000 per tonne. Supply will be tight for years. Stainless steel producers already have to wait for molybdenum supplies. Molybdenum now also in hydrogen electrolyzers? Chromium ore prices also at record levels. Indian Adani Group loses 100 billion due to shortseller attack?
2 February 2023 – The EU’s steel producers are worth an extra 325 billion euros over the next ten years alone. At the same time, European steel buyers are being asked to pay for free ETS certificates. And already more demands are coming from EUROFER. Stainless steel surface BA soon scarce in Europe? And what is nickel doing?
1 February 2023 – The Indian government’s review process on countervailing duties (CVD) against Chinese stainless steel finally seems to be moving forward. The Indian stainless steel industry is eagerly awaiting the upcoming date. Molybdenum prices break through $80,000/MT mark in Europe. And can the European steel producers no longer meet their delivery dates?
31 January 2023 – Taiwanese stainless steel producers are raising prices across the board. Raw materials lobbying becomes a top priority in Germany. Philippines considers introducing nickel export tax. And WTO panel makes no headway in steel dispute between India and United States.
30 January 2023 – Has the greed for scrap now broken out in Europe? How the EU steel lobbies are positioning themselves in the green shadow of the wind energy producers to whose demise they have contributed for years. Washington wants to appeal against the WTO panel decision on steel and aluminium tariffs. And Europe soon to bring up the rear in renewable energies? Hydrogen investments only at 0.1%?
26 Januar 2023 – At the beginning of December there were already signs of a new shortage of stainless steel from January 2023. Currently, there are many indications that the upward jump in demand is already greater than the supply. And the electric vehicle manufacturer Tesla wants to produce at least two million vehicles in 2023. According to company founder Elon Musk, demand has risen dramatically.
24 January 2023 – EU and US stainless steel alloy surcharges are rising in February 2023, in some cases by double digits, and are already
7 December 2022 – New stainless steel shortages are looming for the United States and the European Union. The factors currently available point to this, and analysts and market experts are already warning that stainless steel availability could again become very tight from January 2023 onwards.
27 January 2023 – The EU has imposed high anti-dumping and countervailing duties on stainless steel imports from Indonesia. The Indonesian government has now filed a request for consultations with the WTO to fight this. And Europe is reporting strong order books, falling availability and rising prices for steel. Mills already fully booked?
26 Januar 2023 – At the beginning of December there were already signs of a new shortage of stainless steel from January 2023. Currently, there are many indications that the upward jump in demand is already greater than the supply. And the electric vehicle manufacturer Tesla wants to produce at least two million vehicles in 2023. According to company founder Elon Musk, demand has risen dramatically.
25 January 2023 – Major Russian nickel miner Nornickel, which mines platinum, palladium and copper as well as nickel, expects production to drop further in 2023. Copper prices at highest level in seven months. Will the UK now get its own carbon border tax to pay own steel companies to go green?
24 January 2023 – EU and US stainless steel alloy surcharges are rising in February 2023, in some cases by double digits, and are already
23 January 2023 – Lower energy costs, rising raw material prices and significantly increased demand dominate the stainless steel market. Chrome ore and ferrochrome prices in particular have recently increased significantly. But the upward trend is currently also continuing for other raw materials.
20 January 2023 – Steel prices have recently risen significantly again. Not only the relaxed covid restrictions in China, but also the lowest inventories in 16 months are giving prices in Europe a good tailwind. Molybdenum and nickel continue to rise.
19 January 2023 – The European demand for stainless steel in has increased significantly after the turn of the year. Further price increases are to be expected here. And Chinese provinces are signalling clear growth targets for 2023, partly with reference to “under any circumstances”.
18 January 2023 – The EU Parliament yesterday voted in favour of the introduction of the revised EU Waste Shipment Regulation and thus for a ban on scrap exports to non-OECD countries. The steel lobby remains unhappy and wants OECD member states, such as Turkey, to be monitored and, if possible, banned as well. Nickel jumps up by more than 5%, molybdenum prices already yesterday by almost 4.8%.
17 January 2023 The Chinese stainless steel market reports suspended deliveries by manufacturers and expects further significant price increases after the Chinese New Year. Further increase in EU stainless steel alloy surcharges very likely, but price increases in Europe already noticeable. Demand and delivery times for steel are already picking up.
16 January 2023 – Production at an Indonesian nickel smelter has had to be suspended for the time being following serious unrest that left two people dead at the weekend. Alumina production in Australia significantly reduced due to gas shortage. And copper prices pull. Indonesian copper export ban from the middle of the year? Raw material inventories halved from 2021 to 2022.
13 January 2023 – The EC has announced the results of the Safeguard Review on the lost WTO DSB case and clearly cemented the market protection measure. Indonesia wants to restrict construction of nickel smelters. And is the euro now in danger of crashing?
12 January 2023 – Many bonded warehouses, especially those for steel and stainless steel, are currently empty, according to sources. A good sign? The LME has to make improvements in many places after an independent report on the chaos from March 2022, while at the same time regulators continue to block Asian trading hours. And molybdenum remains very scarce and prices high.
11 January 2023 – As the Covid peak in China is passed, the markets are also picking up. This can be seen, among other things, in the demand for iron ore and the scarce availability. At the same time, several countries are reporting emptying stocks at distributors and an emerging run on HRC in Europe – which may not be able to be served.
10 January 2023 – The next manipulation bang on the nickel market? How Big Short suddenly wants to convert copper plants to nickel production – in the end just hot air? Or is there a double winner here? Stainless steel prices stable and on the rise. And ASI calls for export ban on ferrous scrap.