Sharing is caring

In South Korea, prices for automotive steel are being increased for the first time in 4 years. In Europe, the flat steel availability crisis could worsen. And on LME and SHFE, nickel and stainless steel futures continue to rise. Waiting is currently not an option on the market.

Stainless Espresso: Waiting is not an option at present!
Stainless Espresso: Waiting is not an option at present!

Steel price increase to auto manufacturers in Korea

South Korean steelmakers have raised prices for automotive steel for the first time in 4 years. Market sources said an agreement had been reached between steelmakers and automakers.

The background to the automotive steel price increases is the drastic rise in iron ore prices, which have increased by almost 85% compared to the previous year.

Is the flat steel crisis worsening in Europe?

Despite full order books, Italian flat steel producer Liberty Magona is currently at a standstill and has to temporarily “lay off” its employees. The background is the financial crisis at Liberty Steel and ArcelorMittal’s decision to stop supplying coil material to the Italian subsidiary.

Are 70,000 more tons of flat steel products now missing?

The shutdown at the plant could lead to a shortfall of another 70,000 MT of galvanized and pre-painted flat steel in Europe in June. The impact on the rest of the year cannot yet be predicted.

Source: iltirreno.gelocal.it

Nickel rises after LME holiday

Nickel continued its price rise on the London Metal Exchange after Monday’s holiday, standing at around $18,370 per tonne at around 8 am (GMT+1). On the SHFE, nickel futures are also on an upward trend. Stainless steel futures in Shanghai continue to point north and are up almost 3.7% today.

Conclusion: Waiting is not an option

Even if some market voices recommend a wait and see, we say: Waiting is currently not an option in stainless steel purchasing!

Read also:


Sharing is caring
Receive all the latest news once a week

Receive all the latest news once a week

Make it easy for yourself: we will remind you once a week about the latest news.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!