US inflation opens door for rate cut in 2024 – Stainless Espresso

Jul 12, 2024 | Stainless Espresso

12 July 2024 – Inflationary pressure in the US eased more than expected in June. This opens the door for possible interest rate cuts in 2024. The UK economy is growing more strongly than expected. And the CDU/CSU group in the EPP parliamentary group in the...

Mexico: Stricter US Section 232 tariffs on steel and aluminum – Stainless Espresso

Jul 11, 2024 | Stainless Espresso

11 July 2024 – Mexico and the United States have recently agreed to tighten Section 232 tariffs on steel and aluminum products originating in Mexico. And China has further restricted steel production with blast furnaces and is increasingly relying on EAF...

Reporting season: good outlook for SMEs in the US – Stainless Espresso

Jul 10, 2024 | Stainless Espresso

10 July 2024 – Reporting season: The outlook for small and medium-sized US companies (SMEs) in the second quarter looks good with earnings growth of up to 20%. These could be even higher for the second half of the year. And Indonesian nickel smelters still have...

India: ISI marking becomes mandatory for stainless steel products – Stainless Espresso

Jul 9, 2024 | Stainless Espresso

9 July 2024 – The Indian government has made ISI marking mandatory for certain stainless steel and aluminium products. As recently as June 2024, a possible case of customs fraud with fake BIS certificates for stainless steel in India caused a stir. And the...

Stainless steel prices rise in Southeast Asia – Stainless Espresso

Jul 8, 2024 | Stainless Espresso

8 July 2024 – A major Southeast Asian stainless steel manufacturer has announced price increases. The Japanese economy is on course for growth. And the LME delists two nickel brands from Finnish producer Norilsk Nickel Harjavalta Oy. Source

SHFE stainless steel futures up for second week in a row – Stainless Espresso

Jul 5, 2024 | Stainless Espresso

5 July 2024 – Stainless steel futures on Asia’s SHFE have risen for the second week in a row. And iron ore prices on the DCE have risen by more than 4.5% this week. Source

German trade union demand: nationalize critical infrastructure – Stainless Espresso

Jul 4, 2024 | Stainless Espresso

4 July 2024 – Asian and European stock market quotations are in a positive mood today. And the demands and verbal attacks by the German Trade Union Confederation (DGB) for the nationalization of critical infrastructure in Germany seem like something from...

Raw material prices start the trading day with significant gains – Stainless Espresso

Jul 3, 2024 | Stainless Espresso

3 July 2024 – Raw material prices in Europe started the trading day significantly higher today and the share prices of many EU steel mills also recorded gains. And the EU wants to take action against the exploitation of duty-free allowances, which are currently...

Trend: EU stainless steel prices continue to rise in July – Stainless Espresso

Jul 2, 2024 | Stainless Espresso

2 July 2024 – EU stainless steel prices continue to rise in July 2024, driven in particular by scarce availability. And the German Ministry of Defence orders ammunition, trucks and tanks for more than 14 billion euros. Source

Turkey opens stainless steel anti-dumping case against China and Indonesia – Stainless Espresso

Jul 1, 2024 | Stainless Espresso

1 July 2024 – Turkey initiated anti-dumping investigation against cold-rolled stainless steel imports from China and Indonesia on 28 June 2024. And raw material prices in the first half of 2024 have risen in many cases. Source