Prices for steel and nickel continue to rise. As of today, nickel is holding at over $18,000 per ton on the LME. Turkey remains the EU’s largest HRC supplier. Scrap imports difficult for China. Containers remain scarce. Russian flat steel prices rise.
Our top story this week is that the EU has filed a formal complaint with the WTO against Indonesian export restrictions on nickel. We have published a commentary on this here.
The steel headlines of the week
Steel scrap: Sluggish domestic prices limit Chinese import deals
EU remains Turkey’s top HRC export market despite obstacles
ArcelorMittal raises european steel coil prices again
China: good prospects for 2021
USA: Deutsche Bank expects growth stimulus
China: Export container distribution index rises
Vietnam: Building materials market forecast to be robust in 2021
IREPAS: Long steel products outlook for January 2021
Nickel price holds up well as demand in steel and EV sectors set to rise
Ocean freight rates on China-Brazil route more than quadruple
China: ambitious climate targets
German steel prices to rise, production increases expected
Russia flat steel: prices pick up after the holidays
Formosa Ha Tinh Steel increases local HRC price for March
Iron ore stocks in Chinese ports down 1.22 percent
EU files WTO request against Indonesian export restrictions on stainless steel raw materials
Vietnam: Steel prices could peak in 2021
Outlook for the next week
Next week will show if the trend in nickel holds. It has risen nearly $8,000 since March 2020. The stainless steel shortage in the market has done their by the way. The logistics industry is calling for new containers to deal with the Corona-induced material congestion. And in the midst of it all, a European Union that’s looking for new blockades rather than breaking down trade barriers.
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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.
