Sharing is caring

This week, we asked the question: Where are we heading economically and politically in the steel industry right now?

Weekly Steel Review
The steel week in review for week 5 in 2021

We looked at the United States and the European Union. Who is currently coming through the Corona pandemic better? Quo vadis Europe? USA already recording growth in 2020 again.

In a letter to the EU Commission, the Eurometal association has pointed out that when the EU’s Safeguard measures expire in mid-2021, steel consumers must not be forgotten. In response to a letter sent to the European Union by twelve EU countries and Eurofer calling for Safeguard measures to be extended.

The US Steel Importers Association (AMSCI) has called on the Biden administration to remove the Section 232 tariffs and quotas. However, now it does not look as if AMSCI will succeed in doing so.

One of the first acts of U.S. President Biden was to reinstate the tariffs on aluminum imports from the United Arab Emirates that were lifted by his predecessor. In addition, a recent ruling by a U.S. court this week found the Section 232 tariffs to be lawful.

The steel headlines of the week

Eurometal calls on EU to “take care of steel consumers”

U.S. steel importers call for end to Section 232 tariffs and quotas

China’s stainless steel market will continue to grow in 2021

Alloy surcharges: Where is the rally on the metal markets heading?

3 UK import steel quotas already exhausted, system still under maintenance

AISI releases SIMA steel import data for January 2021

Quo vadis Europe? USA already recording growth in 2020 again

U.S. court upholds Trump’s national security tariffs on steel imports

Outlook for the coming week

Chinese New Year starts next week, and many Chinese and Asian countries go on vacation for up to three weeks. Many Chinese stainless steel manufacturers and suppliers have already gone on vacation or closed their order books.

The nickel price, which is relevant for stainless steel production, is already close to the $18,000 per ton mark again today. And the euro is hovering around $1.20. Further price increases are forecast for ores and alloys. And Japan’s third largest steel producer also raised prices this week.

So, it doesn’t look like there will be much of a significant drop in stainless steel prices at the moment.

Do you have any questions on one of our topics? Or would you like to know where stainless steel is currently still available? Just give us a call: +49 7642 9282851 or send us an email to info@steelnews.biz.


Sharing is caring
Receive all the latest news once a week

Receive all the latest news once a week

Make it easy for yourself: we will remind you once a week about the latest news.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!