EU Circumvention claims against stainless steel not tenable? – Stainless Espresso

Oct 5, 2023 | Stainless Espresso

5 October 2023 – The circumvention claims made by EUROFER and EU stainless steel producers against cold-rolled stainless steel products from Turkey, Taiwan and Vietnam originating in Indonesia are proving to be extremely shaky and contrived after only a brief...

Tightening of EU scrap export ban in planning? – Stainless Espresso

Oct 4, 2023 | Stainless Espresso

4 October 2023 – Are European steelmakers working on tightening the EU ferrous scrap export ban? Large-scale green DRI production already off the table? And UK consumer stocks have been strong so far in 2023. Source

China’s economy continues to stabilise in September – Stainless Espresso

Oct 3, 2023 | Stainless Espresso

3 October 2023 – The Chinese economy continued to stabilise in September 2023. This is shown by the latest PMI data for the manufacturing and service sectors in China. Aluminium stocks continued to fall due to stable and growing demand from China. Source

EU CBAM transition phase gets off to a more than jerky start – Stainless Espresso

Oct 2, 2023 | Stainless Espresso

2 October 2023 – The EU Carbon Border Tax CBAM launched on 1 October is already proving to be unfinished at the start. Not even all competent authorities in the member states have been determined. German authorities clueless about CBAM? Positive: And the US ISM...

EU sanctions against Russian steel imports from 30 September 2023 – Stainless Espresso

Sep 29, 2023 | Stainless Espresso

29 September 2023 – New EU sanctions against Russian steel products will come into force on 30 September, requiring manufacturers to prove that their processed products do not contain Russian steel. This is likely to affect India in particular. In China, the...

Lawsuit: Poland calls for repeal of EU CBAM and ETS system – Stainless Espresso

Sep 25, 2023 | Stainless Espresso

25 September 2023 – Poland has filed a lawsuit with the European Court of Justice against the EU regulations on CO2 allowance trading, the Market Stability Reserve and the CO2 Carbon Border Tax CBAM, which is due to start in October 2023. And on 26 September,...

EU gas prices decline as supply outlook improves – Stainless Espresso

Sep 22, 2023 | Stainless Espresso

22 September 2023 – EU gas prices have continued to fall this week, which should help the manufacturing industry. In South Korea, a large stainless steel plant will cease production at the end of the month. And Indonesia is not allocating any new mining quotas...

FED: US with 2.1% economic growth in 2023 – Stainless Espresso

Sep 21, 2023 | Stainless Espresso

21 September 2023 – The US Federal Reserve yesterday (Wednesday) raised its growth forecast for the US economy to 2.1% this year and also expects growth of at least 1.5% in 2024. A major Chinese stainless steel mill is down for several weeks due to a change in...

Bündnis90/Die Grünen as lobbyists of the German steel industry? – Stainless Espresso 

Sep 20, 2023 | Stainless Espresso

20 September 2023 – Are the German Bündnis90/Die Grünen lobbying the European and German steel industry? A look at the recent past and current election programmes quickly makes this clearer and declares CBAM, which is not supposed to be a market protection...

Asian stainless steel prices remain stable – Stainless Espresso

Sep 19, 2023 | Stainless Espresso

19 September 2023 – Asian stainless steel prices are currently holding steady, while Chinese analysts are already pointing to the possibility of rising prices. Nickel sulphate remains in short supply. And Indonesian minister warns of dwindling nickel reserves....