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Stainless Espresso: Stainless outlook for 2022 positive
Stainless outlook for 2022 positive

9 May 2022 – Despite an expected drop in demand in Russia and Ukraine, the outlook for steel and stainless steel in 2022 remains positive and overall demand is expected to remain at last year’s level. Is the commodity market getting an alternative to nickel trading on the LME? Italian importer loses aluminium anti-dumping case.

Stainless Outlook: Overall demand to remain at previous year’s level

Global stainless steel prices continue to hold firm. Demand is high and especially in the United States, stainless steel producers cannot keep up with production.

Taiwan

Taiwanese stainless steel producers have raised alloy surcharges for the 316 series for the fourth month in a row. Overall, the outlook for Taiwanese stainless steel prices remains firm and stable in May.

China

In China, stainless steel spot prices not only ended last week stable, but also started the new week equally firm.

Ukraine and Russia

Despite an expected decline in demand in Russia and Ukraine in 2022, overall global demand for steel is expected to remain at the previous year’s level.

European Union

Another indication of this developments are the currently published figures of the major steel producers, especially stainless steel producers. The shares of these companies closed with substantial gains at the end of last week.

Alternatives to LME nickel?

According to market information, after the nickel debacle on the London Metal Exchange (LME), the first exploratory talks are now being held for possible new marketplaces. In particular, they want to address nickel traders and investors who have lost confidence in the LME.

Whether this can succeed remains to be seen. Many alternatives, especially those that do not belong significantly to the big international investment banks and financial service providers, are rare.

EU: Italian importer loses aluminium anti-dumping case

An Italian aluminium importer had sued the European Court of Justice in November 2021 against the European Union’s anti-dumping measure imposed on Chinese aluminium extrusions in March 2021, and their lawyers had asked for the measure to be lifted.

The court has now dismissed the action as inadmissible, as the applicant and its lawyers failed to prove that the applicant was individually affected by the regulation.

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