According to a survey by S&P Global Platts, US finished steel prices are expected to remain high until at least September 2021. Also in today’s Stainless Espresso: Why Tsingshan’s nickel supply story is full of holes.
High US finished steel prices until at least September 2021
According to a survey by S&P Global Platts, more than half of steel market participants surveyed expect U.S. finished steel prices to remain at their current peak or continue to rise over the next six months.
‘Carefully scripted propaganda’: why China’s nickel supply story is full of holes
Already at the beginning of March 2021 we took a look at the background of the at least 14% nickel crash with the article “Indonesia, Tsingshan and the crashed nickel – What is really happening in the nickel market?“. Even though it is often claimed that it was an expected and purely technical downward correction, there is little to this technical correction.
Shock waves let nickel price crash
The side stockhead.com.au follows up completely up-to-date also again and lets some analysts come in this connection to word. And also points out once again that the announcement of Tsingshan to be able to produce and deliver 100,000 MT nickel matte from NPI (nickel pig iron) alone was enough to send shock waves through the red-hot nickel market.
Update, April 14, 2021: S&P Global Platts also addresses the opportunities created by the conversion of Nickel pig iron to Nickel matte in a podcast. And also identifies Tsingshan’s announcement as the cause of the nickel price drop.
All it took was a press release?
And in the end it was just a press release with a statement of intent – just a carefully planned propaganda action – to lower the nickel price.
With “Is Tsingshan Group benefiting from the drop in nickel prices?” we had already thought about that.
We cannot recognize a purely technical correction here until today.
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