November 20, 2021 – Shortly before the close of trading on Friday afternoon, nickel surpassed $20,000 per ton on the LME in London this week. The signs of a renewed nickel upward trend had already been noticeable during the week. So we are looking forward to the start of the week for nickel and the other base metals on Monday. The EC has also unveiled its plans to ban waste and scrap exports. And as expected, the European Commission imposed anti-dumping measures against flat-rolled stainless steel imports from India and Indonesia. What else was important?
Were nickel ore prices kept artificially low?
November 15, 2021 – It is possible that Indonesian nickel ore prices were kept artificially low through market manipulation. The Indonesian anti-monopoly authority is currently investigating this suspicion. In Europe, low-carbon ferro-chrome prices rose by up to 10% last week due to scarce availability. And the Stainless Steel World trade fair in the Netherlands from 30 November to 2 December 2021 has been cancelled by the organiser.
Indian steel demand to pick up significantly
November 16, 2021 – India expects domestic steel consumption to increase by up to 160 million tons per year in the coming years. AISI welcomes signature of US infrastructure package and focus on American-made steel. Strong dollar corrects prices – stainless steel futures unimpressed. And on the LME, inventories continue to fall.
China’s alumina net imports at 2.59 million tonnes
November 17, 2021 – China’s net alumina import volume so far in 2021 has been around 2.59 million tonnes. This means that the Asian country remains one of the world’s most important buyers of the aluminium raw material. The automotive industry with its deferred steel demand is likely to ensure further steel price increases in 2022. This should also keep coil prices high.
EC to ban export of steel and aluminium scrap to non-OECD countries
November 17, 2021 – The EC today presented its proposal for a new EU Waste Shipment Regulation. According to this proposal, all non-hazardous waste exports, including steel and aluminium scrap, to non-OECD countries should be banned.
US vehicle production picks up by 18.8% in October 2021
November 18, 2021 – The latest figures from the US Federal Reserve (FED) show that vehicle production in the United States rose by almost 19% in October 2021. Vehicle sales are also up 6% from the previous month. This points to an imminent end in the chip shortage and a surge in demand for steel and aluminium. China is producing more than 23% less crude steel. And EU plate prices are expected to rise further.
EU imposes anti-dumping on stainless steel from India and Indonesia
November 18, 2021 – The European Commission (EC) has today imposed final anti-dumping duties on cold-rolled stainless steel products from India and Indonesia. This means that anti-dumping duties of up to 35.3% will be imposed with immediate effect.
Aluminium smelter accident – prices jump due to shortage concerns
November 19, 2021 – After an accident at a large Chinese aluminium smelter in Yunnan province, aluminium prices jumped today by more than 3% in some cases. EU HRC prices are stable and are expected to rise further from January 2022. German group thyssenkrupp is thinking aloud about outsourcing its steel division and forecasts a significant increase in demand for 2022.
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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.
