6 May 2025 – Stainless steel prices in Asia have risen after the end of the Labour Day holidays there. Nickel prices also enjoyed gains. Designated German Chancellor fails first round of elections – for the first time in German history.
Stainless steel prices rise in Asia after public holidays
Prices for Asian stainless steel rose by between 0.5% and approx. 1.0% today, one day after the end of the Labour Day holiday in China, depending on the grade. Prices for stainless steel scrap in Asia improved by around 1.1%.
Nickel prices on the Asian commodities exchange SHFE were also positive, rising by just under 0.5%. Nickel on the LME also rose and was up around 0.74% at around 12 noon CET.
German Chancellor-designate fails first round of voting
The designated new German Chancellor Friedrich Merz, CDU, was not able to unite enough votes of his own coalition behind him in today’s first round of voting and failed in the first round – he was 6 votes short of the necessary so-called chancellor majority. This is an unprecedented event in the history of the German Bundestag. A second round of voting can be scheduled within the next 14 days, theoretically even today.
Merz not uncontroversial in his own party
However, it remains to be seen whether enough dissenters in the ranks of the CDU/CSU and SPD coalition can be captured and convinced. Friedrich Merz is not uncontroversial within his own party due to his changed opinion on new debt in Germany and has lost a great deal of support among voters and within his own party as a result of this stance.
Latest news
- Germany needs good infrastructure, not mega-factories
- Taiwan hints at possible anti-dumping investigation into stainless steel
- Spot market prices for Asian stainless steel up
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.
