November 27, 2021 – As the week drew to a close, it once again caused a little unrest on the markets. Fundamentally, nothing has changed for the time being – only the fear of a new Corona variant is being whipped through the media. As in the past, this has led to values correcting downwards. Oil in particular seems to be sensitive to this. All in all, however, the correction in the base metals was manageable. And US stock markets only opened for a short period of time on the day after Thanksgiving. So we can look forward to Monday with excitement. “Think first, then fire!” Have a nice weekend.
Use off-season before LNY 2022 for stainless steel sourcing
November 22, 2021 – Use the off-season now for strategic stainless steel purchasing ahead of the Chinese Luna New Year 2022 (LNY 2022). Opportunities in the Asian market are great. Freight costs likely to rise again soon. Base metals started Monday on a positive note. Stainless steel futures up. HRC and Rebar demand up 4.2%. Sources report possible new Chinese export tax on steel products.
European spot market for plates bullish
November 23, 2021 – European spot market for plates is getting bullish. Plate producers focusing on project markets. Plates spot market with low availability and rising prices. Steel producers in China’s Hebei province have to reduce crude steel production by up to 100%. Nickel and zinc prices rising strongly. And continuity at the US Federal Reserve is welcomed by the market.
Global shortage of stainless steel and aluminium continues
November 24, 2021 – The global shortage of raw materials and semi-finished stainless steel and aluminium products continues. This is also reflected in the decline in global crude steel production in October 2021. The current situation is no better for aluminium either. According to calculations, global aluminium stocks are at their lowest level in 20 years. And in the United States there is still a shortage of stainless steel, which is expected to continue. In addition, more and more countries seem to want to protect their scrap reserves with export bans. Nickel, aluminium and stainless steel prices rise.
Indonesia to ban further exports of raw materials from 2022
November 25, 2021 – Indonesia wants to ban raw material exports of bauxite, copper and tin. This was announced by Indonesian President Joko Widodo on November 24, 2021. An export ban on bauxite is to begin in 2022. Energy consumption by German steel manufacturers is to increase fivefold due to hydrogen production. Chinese alumina production threatened by winter. And stainless steel prices in Asia are rising.
“Think first, then fire” – Markets react as expected to news on new virus variant
November 26, 2021 – This morning the markets reacted as expected to the news of a new Corona variant in South Africa. Even though nothing has changed on the market and yesterday’s figures were still very positive, today the markets are cashing in on headlines and mindless statements. The outlook for China in particular is surprisingly positive.
And don’t forget: Sharing is caring.
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.
