Stainless Espresso: EU steel prices up again – no more spot offers
European steel prices have risen by 81% since November 2020 and steelmakers’ margins have also increased by 300% despite massive increases in raw material prices. In addition, EU steelmakers are apparently no longer offering on the spot market. EU steel prices...
Stainless Espresso: Nickel stable again after profit taking
After falling by almost 2.5% on Monday, nickel is already picking up again today (Tuesday), gaining almost $200 per ton on the LME. And in a webinar of the Turkish Steel Exporters Association (ÇIB), the European Commission was urged to end the Safeguard measures on...
Stainless Espresso: Fire at YUSCO delays offers from Taiwan
Following a fire (Video) at Taiwanese steel producer Yieh United Steel Corp (YUSCO), new offers for stainless steel from Taiwan have again been delayed in many areas. Germany’s export engine is humming for the eleventh month in succession. And iron ore continues...
Stainless Espresso: Stainless steel prices in Europe up
Some interesting market data await us in the coming week. Politically it should remain quiet – but you never know. In addition, stainless steel prices picked up significantly last week, as we expected. IHS Markit offers an exciting outlook for the coming week....
Stainless Espresso: GCC Safeguard measures, and scrap is up again
The GCC have announced that the Gulf Cooperation Council countries have issued definitive Safeguard Measures on certain steel products. And scrap prices worldwide continue to rise sharply and could exceed $500 per ton. GCC to set definitive steel safeguard measures...
Stainless Espresso: Caught between record profits and scarce steel
Commodity prices are rising and rising. And are being further fueled by demand from China. In Europe, EUROFER announces how badly the European steel sector is doing. And in the same breath, EU steelmakers are cheering record profits. In addition, the US downstream...
Stainless Espresso: Scrap and iron ore continue upward trend
Two weighty factors in steel production, scrap and iron ore, continue to point upwards in terms of demand and price trends. Scrap: prices up by $42 per tonne Recent purchases by Turkish steel mills have pushed scrap prices up sharply by $42 per ton, sources told...
Stainless Espresso: The extraordinary global steel market
The Stainless Espresso with the most important info for the day. Credit Suisse sees an “exceptional” global steel market in a recent analysis. The rating agency Care Ratings expects another possible price rally for steel in 2022, and Goldman Sachs sees...