18 Apri 2024 – Stainless steel prices in Asia are robust and rising due to a significant market recovery. Supply situation in some markets remains tense. And the reporting season starts in Asia. Significant earnings growth expected for IT, utilities and raw materials companies.
Stainless steel prices in Asia robust and continuing to rise
Market participants are increasingly reporting rising stainless steel prices in Asia, especially for cold-rolled products. The main reasons for this are rising demand and the resulting increase in demand activity. In addition, raw material prices have proven to be stable and upwardly orientated despite a certain degree of volatility.
In addition, the supply situation in some markets, such as the European Union, remains tense and there is currently no improvement in sight.
Reporting season starts in Asia: IT, utilities and raw materials companies in the lead
The reporting season in Asia for the first quarter has begun. Deutsche Bank analysts expect the companies in the MSCI AC Asia ex Japan Index to report average earnings growth of just under 24 per cent in 2024.
Expectation: IT, utilities and raw materials companies with significant earnings growth
Looking at the sectors, the IT industry in particular stands out, which could increase its profits in the region by 57 per cent this year.Utilities and raw materials companies are also forecast to achieve above-average profit growth of 48 and 40 per cent respectively.
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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.
