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.

Weekly Steel Review
The steel week in review for week 3 in 2021

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.

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