1 June 2023 – Will nickel production no longer keep up with demand from 2027? That is possible. But it is also possible, should there be even a small imbalance in supply and demand, that a possible oversupply of nickel will end as early as 2024. Germany’s inflation data unexpectedly better. European financial and commodity companies a major growth driver. And Chinese industrial companies are doing much better than anticipated.
31 May 2023 – As early as January 2023, Indonesia requested WTO consultations with the European Union regarding the countervailing and anti-dumping measures imposed by the European Union on imports of stainless steel cold-rolled flat products from Indonesia. A WTO panel now had to be formed. Thinking in solutions, positive motivation and bare facts – how we work and a look at some facts. EU-US Trade and Technology Council: Still no agreement in the steel dispute. Is the EU reducing overcapacity?
30 May 2023 – Agreement in dispute over U.S. debt ceiling met with positive response. Taiwanese stainless steel producers expect market to stabilize in second half. Nickel prices rise again. Indonesia to introduce its own nickel index. Important reminder: The European stainless steel industry is not just mills!
26 May 2023 – An open letter from German steel giant thyssenkrupp steel europe to the German Federal Ministry for Economic Affairs and Climate Protection is now apparently intended, with the help of the works council, to force the disbursement of subsidies amounting to around 2 billion euros for a less than transparent and alleged green steel project. Otherwise, the project would be stopped. Now they are playing hardball? What’s going on?
25 May 2023 – China needs more steel scrap. The necessary standards are now to be adapted for this. This is of immense importance for many manufacturers. EAF capacity in China is to be expanded to 400 million tons of steel and stainless steel per year. Aluminum imports to China rise significantly. Commodities bull Goldman says ‘we were wrong’ but sticks to its assessment, because largest commodity destocking process in history should soon be over.
24 May 2023 – A green steel clash between steel producers seems increasingly likely. This is because BF/BOF and EAF producers have very different motives, which is also becoming increasingly evident in their green steel initiatives and certification. And the US Department of Commerce has proposed extensive changes for Trade Remedies.
23 May 2023 – The decision on whether to extend the EU Safeguard measure to certain steel products or end it early is due shortly. The EC recently announced the TRQ for steel products between the UK and Ireland. And the ISSF clearly sees a significant increase in stainless steel consumption coming in 2024.
26 May 2023 – An open letter from German steel giant thyssenkrupp steel europe to the German Federal Ministry for Economic Affairs and Climate Protection is now apparently intended, with the help of the works council, to force the disbursement of subsidies amounting to around 2 billion euros for a less than transparent and alleged green steel project. Otherwise, the project would be stopped. Now they are playing hardball? What’s going on?
24 May 2023 – A green steel clash between steel producers seems increasingly likely. This is because BF/BOF and EAF producers have very different motives, which is also becoming increasingly evident in their green steel initiatives and certification. And the US Department of Commerce has proposed extensive changes for Trade Remedies.
23 May 2023 – The decision on whether to extend the EU Safeguard measure to certain steel products or end it early is due shortly. The EC recently announced the TRQ for steel products between the UK and Ireland. And the ISSF clearly sees a significant increase in stainless steel consumption coming in 2024.
22 May 2023 – We are back as announced and are pleased to announce the launch of the Stainless Espresso Stream. Curious? So are we! UK to impose sanctions on Russian commodities including nickel, aluminium, copper and diamonds. The German stock index DAX shows record highs last week, reflecting the good mood in the market. At the same time, German basic suppliers are significantly lowering electricity and gas prices.
16 May 2023 – No, the makers of Stainless Espresso will not become quieter or stop pointing their fingers critically at what no one else dares to do. No, the makers of Stainless Espresso will not become quieter or stop pointing their fingers critically at what no one else dares to do. We have to reject this wish and hope of some. And take away the concern of the many others that we might stop.
15 May 2023 – The Chinese NEV market continues to pick up significantly. Market sources report tight nickel inventories and lack of availability. Nickel inventories at the SHFE continue to be historically low and are down 94% from 2020 levels. And U.S. homebuilder stocks have experienced a significant surge in recent months. Shares of U.S. homebuilding companies in the S&P 1500 Homebuilding Index are up an impressive 48 percent since last October.
12 May 2023 – The Chinese hunger for scrap seems to be awakened if one looks at the current import figures for steel and stainless steel scrap into China. Stainless steel scrap in particular is pulling away tremendously. Bank upgrades outlook for producers in anticipation of rising aluminium prices.
11 May 2023 – The European Union could go from being an exporter to an importer of steel scrap in less than 5 years. And as steel production around the world increasingly switches to electric arc furnaces, a race is on for the coveted raw material. US inflation data surprisingly low – lowest since 2021. And demand for consumer credit in Germany up by double digits.
10 May 2023 – Demand for base metals, such as aluminum and copper, is meeting an increasingly tight supply. And the expansion of mining capacities is not keeping pace. China is massively expanding EAF capacities for steel, which should soon make scrap even more sought-after. Is there a growing political and economic conflict between producer and consumer countries?
9 May 2023 – For years, the German steel giant thyssenkrupp Steel has been drawing a substantial part of its existence from the German and European taxpayer in the form of direct and indirect subsidies, grants and rescue packages worth billions of euros. There are frequent political visits in return. Soon also from the Cartel Office? It stinks in Duisburg. And the next European stainless steel producer presents very good figures for Q1 2023 and sees a massive destocking in Europe and North America, while at the same time market sources report clear gaps in stockists and service centres.
8 May 2023 – The worldwide trade data are robust and the trend towards globalisation continues unabated. Even if trade flows are shifting, there is no getting around China, especially for electric vehicles. The EV business is booming there. In Asia, commodity prices are rising today, Monday, in some cases by more than 5-6%. And what is the nickel price doing?
5 May 2023 – The EU is planning a new sanctions mechanism against third countries, which could include steel products. And after this week’s interest rate hikes by the Fed and the ECB, there are many indications that inflation will continue to fall and the global economy will stabilise.
4 May 2023 – The government of Indonesia has stressed several times in the recent past that it wants to conserve its nickel reserves for higher-value products. Now the government is cutting tax breaks for NPI smelters. Positive data is coming out of China for nickel, stainless steel and scrap. And LME nickel stocks continue to fall, prices rise.
3 May 2023 – LME nickel prices have risen by almost 10% since the end of March 2023 and the European nickel price was already above $25,400 per ton again in the meantime. Inventories eased a further 4.7% in April, according to the latest LMI surveys. China’s Export Container Index is up, and for Europe and North America it’s up more than 6%. And Japan’s economy continues to gain momentum.
2 May 2023 – Positive market data to start May 2023. The markets on both sides of the Atlantic – the United States and Europe – have performed more positively than many analysts expected. The great recession in the Eurozone has failed to materialise and GDP in France is growing despite weeks of strikes and protests. And already the first short sellers and financial institutions are trying to make a stink elsewhere. Is that necessary?