The Stainless Espresso

by Gerber Group

The Latest Stainless Espresso

European nickel prices continue to rise – Stainless Espresso

22 February 2024 – Nickel prices on the European commodity exchange LME climbed to over USD 17,000/MT today, having already risen by more than 3.5% on Wednesday. And the new EU sanctions package, which was only agreed “in principle” yesterday, appears to be more symbolic than substantial, according to media reports.

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Strikes shake EU stainless steel mills – Stainless Espresso

13 February 2024 – Several EU stainless steel mills are acutely affected by strikes. While there have been repeated strikes in Finland for several weeks, some lasting several days, stainless steel workers in Cadiz, Spain, are on indefinite strike. This is affecting millions of tons of stainless steel capacity in the EU. While imports into the EU have fallen to a historic low due to absurd market protection investigations in Brussels.

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What was going on so far in 2024

Energy prices in the EU continue to fall – Stainless Espresso

15 February 2024 – Energy prices in the EU have continued to fall. Natural gas prices were recently at the same level as in autumn 2018 and at their lowest level since June 2023. Electricity prices were also more than 60% lower in December 2023 than in the previous year. And industrial production in the eurozone is growing again.

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Strikes shake EU stainless steel mills – Stainless Espresso

13 February 2024 – Several EU stainless steel mills are acutely affected by strikes. While there have been repeated strikes in Finland for several weeks, some lasting several days, stainless steel workers in Cadiz, Spain, are on indefinite strike. This is affecting millions of tons of stainless steel capacity in the EU. While imports into the EU have fallen to a historic low due to absurd market protection investigations in Brussels.

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Indian steel exporters face growing problems – Stainless Espresso

6 February 2024 – Indian steel exporters are facing growing export problems and have almost halved their export volume since 2020. Export taxes, logistics problems and proximity to Russia are making Indian steel and stainless steel increasingly unpopular. And the US companies have so far clearly exceeded analysts’ expectations for Q4 2023.

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Australian steel maker: Green steel is coming, but it’s not here yet – Stainless Espresso

1 February 2024 – When announcing a modernization investment in the classic blast furnace route, Australia’s largest steel maker justified the decision by stating, among other things, that technologies for green steel are currently neither available nor economically viable. And the US Federal Reserve continues to keep interest rates stable. Bets on the stock markets on a possible interest rate cut do not seem to be paying off.

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