Steel dispute: EU rejects US offer – Stainless Espresso

Jun 30, 2023 | Stainless Espresso

30 June 2023 – The European Union has rejected the US proposal to settle the steel dispute. Not WTO compliant, sources say. But the problems are far greater. And US Section 232 tariffs softened for India? There could be a nasty duck on the way. Source

LME nickel shows further volatility – Stainless Espresso

Jun 29, 2023 | Stainless Espresso

29 June 2023 – The nickel shows volatile, after the court hearing around the manipulations on the LME. Now comes the multimillion dollar damages? Tesla with record second quarter sales in China, but booming Chinese e-vehicle market continues to eat Tesla’s...

The bulls are taking over Wall Street again – Stainless Espresso

Jun 28, 2023 | Stainless Espresso

28 June 2023 – On Wall Street, the bulls take over again after strong US economic data. US manufacturing orders are up in May. Consumer confidence rises to its highest level since the beginning of 2022, and spending on leisure and entertainment increases again,...

India must withdraw WTO cases against Section 232 and others – Stainless Espresso

Jun 27, 2023 | Stainless Espresso

27 June 2023 – While India is still celebrating a supposed victory in the negotiations with the US government on the Section 232 tariffs, there could soon be a sense of gloom on the Indian side. After all, India got nothing in the end. Now official: The EU...

European energy prices down to early 2022 levels – Stainless Espresso 

Jun 26, 2023 | Stainless Espresso

26 June 2023 – Good news for the manufacturing sector in Europe. Energy costs have fallen by more than 60% in some cases compared to the previous year. EU has adopted the 11th sanctions package against Russia. And for companies, it is a good idea to make sure...

Nickel case: LME was aware of manipulations by Tsingshan 

Jun 23, 2023 | Stainless Espresso

23 June 2023 – In the case of cancelled nickel trades worth more than 10 billion dollars, more and more details come to light. Also, that the LME had been aware of previous market manipulations by the Chinese Tsingshan Group. And copper stocks continue to fall. ...

Industrial metals up again since the beginning of the month – Stainless Espresso 

Jun 22, 2023 | Stainless Espresso

22 June 2023 – Industrial metals have risen again since the beginning of the month. Now the focus is on China and whether the stimuli from the government there will give the economy further momentum in the second half of the year. When the EU steel industry has...

ECRMA: Calls for inclusion of aluminium in Critical Raw Materials Act – Stainless Espresso

Jun 21, 2023 | Stainless Espresso

21 June 2023 – The draft European Critical Raw Materials Act (ECRMA) is missing one important raw material: aluminium. Calls are now growing louder for aluminium to be added to the list due to existing supply difficulties. And Ukraine is planning the green...

LME Nickel Case: Now it gets serious – Stainless Espresso

Jun 20, 2023 | Stainless Espresso

20 June 2023 – It is getting serious in the case against the LME for cancelled nickel trades from March 2022. The two most prominent lawsuits, which may also point the way for all others, are scheduled for hearing starting today, Tuesday. Asian inflation rates...

CBAM – Opposition to EU Carbon Border Tax grows stronger – Stainless Espresso

Jun 19, 2023 | Stainless Espresso

19 June 2023 – While the economic mood on the markets continues to brighten, criticism of the EU border tax CBAM is increasing. More and more developing countries, such as China, Indonesia, or India, are voicing concerns and opposition to CBAM. India is already...