China battles steel overcapacity – Stainless Espresso

Aug 29, 2024 | Stainless Espresso

29 August 2024 – China has declared war on capacity expansions in steel production and is no longer allowing any new announcements for replacement capacity. And stainless steel prices in China have stabilised, demand is rising. Source

LME nickel prices continue to rise in August – Stainless Espresso

Aug 28, 2024 | Stainless Espresso

28 August 2024 – Nickel prices on the LME have risen between 5 and 6% so far in August. Philippine nickel ore is up 1.82% today and Asian analysts also expect an upward reaction in NPI prices in the short term. Source

Canada to impose high tariffs on steel and aluminum from China – Stainless Espresso

Aug 27, 2024 | Stainless Espresso

27 August 2024 – Canada has announced its intention to introduce tariffs on Chinese steel, stainless steel and aluminum products from October. And German steel mills continue to pick up speed and increase crude steel production, in some cases significantly....

Prospect of US rate cuts triggers stock rally – Stainless Espresso

Aug 26, 2024 | Stainless Espresso

26 August 2024 – On Friday, Fed Chairman Jerome Powell signaled that nothing would stand in the way of interest rate cuts in the United States. The prospect of US rate cuts triggered a stock rally. And the United States imposed 400 new sanctions, including...

Alumina shortage in China drives up prices – Stainless Espresso

Aug 22, 2024 | Stainless Espresso

22 August 2024 – A persistent shortage of alumina has been driving up prices for the essential aluminum raw material since the beginning of the year. At the same time, imports of raw aluminum and aluminum products to China have increased significantly. This has...