EU sanctions against Russian steel imports from 30 September 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
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
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
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
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
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....
Domestic consumption in China continues to pick up speed – Stainless Espresso
18 September 2023 – Chinese consumption has continued to grow. Online retailers in particular are ahead. Commodities could benefit from Chinese domestic consumption. German ports really a matter for the local governments? The German states with maritime ports...
Asian raw material prices continue to gain – Stainless Espresso
15 September 2023 – Asian raw material prices continued to develop positively on Friday, closing in part significantly higher. Chinese stainless steel prices rose. And the LME is once again trying to be more transparent. Source