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.

Weekly Steel Review
The steel week in review for week 2 in 2021

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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