The week is already over again. It was very much characterized by interesting news from China. Which, of course, have a major impact on the entire global economy.
In addition, the Chinese New Year is only a few weeks away. Now, stainless steel orders and deliveries urgently need to be wrapped up.
Carriers, for example, are already offering significantly fewer empty runs. But China has also announced that the problem with a lack of container capacity will be resolved.
Europe and the United States continue to be characterized by rising steel prices. Material is still in short supply and the European steel mills have already significantly increased prices again.
The steel headlines of the week
European distributors remain concerned about steel supply
China considers measures to increase capacity and stabilize container rates
Chinese iron ore futures rise on replenishment demand
Europe HRC: Domestic prices rise again, with even higher offers expected soon
HRC exceeds the $1,100/t mark and awakens 232 clamors
Dollar rises, but traders expect strength to be short-lived
China steel futures close higher
Carriers offering fewer blank sailings for CNY 2021, or is a whole slew of blank sailings coming?
Closures due to new Covid-19 outbreak in China raise concerns for steel and iron ore
Why iron ore will remain strong this year even as Chinese demand wanes
Container shipping may experience unprecedented ‘large-scale delays’
Weakening steel margins in China put iron ore under pressure
Base metals in Shanghai were mostly higher after Wall Street rose to record levels following Biden’s inauguration
China’s stainless steel mills raise list prices due to increased production costs
Outlook for the next week
We are approaching Chinese New Year (CNY) with big steps. The time, in which in China defacto nothing economic will happen. An important date, then. Stainless steel and steel are difficult to get in Europe and in the USA. Prices are supposedly high, but will probably continue to rise the closer we get to CNY.
Nickel has settled above $18,000. The euro may show if it can hold its own against the dollar. And according to sources, steelmakers in the EU are running out of scrap.
In any case, it will not be boring.
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.