The current steel week was strongly characterized by developments on the European market. In many cases, EU steel producers have raised their prices. There were reports of historic lows in inventories. And delivery times for material from EU and US production have not decreased.
Logistics problems due to the Corona pandemic and a shortage of containers continue to exist. And a Taiwanese stainless steel mill has already announced price increases due to higher raw material prices.
We also took an in-depth look at global steel market developments this week and published a comprehensive opinion on the matter: What is the (stainless) steel market doing – short setback or trend reversal?
The steel headlines of the week
Are EU coil distributors coming out of the drought?
EU section prices hold at 12-year high, mills seek further increases
Why have freight costs shot up by up to 300%? Fierce battle for containers
ArcelorMittal Italia initiates restart of blast furnace 2 at Taranto site: sources.
Steel shortage? German steel stocks fall to 33-year low
Container shortage – Will Chinese New Year be a turning point?
US mill lead times for sheet products stabilize but remain extended
Major Taiwanese stainless steel mill announces new prices
What is the (stainless) steel market doing – short setback or trend reversal?
EU stainless steel purchasers face bottlenecks as prices rise
Outlook for the week ahead
Nickel and metal scrap prices remain particularly interesting. Stainless steel scrap is currently extremely scarce, which will probably drive prices further. Nickel had a brief setback below $18,000 per ton, but has almost fought its way back above it as of today (Friday).
Material shortages (430 in particular is currently really tight in the EU), prices and logistics will continue to keep us busy. More so as Chinese New Year dawns. So it is better to place orders now for the coming weeks than to wait any longer.
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.
