CBAM – Opposition to EU Carbon Border Tax grows stronger – 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...
South African scrap export ban extended – Stainless Espresso
16 June 2023 – The South African government has extended the existing scrap export ban on certain ferrous and non-ferrous waste for another 6 months. Japanese stainless steel producers hike prices again. LME and SHFE nickel prices up 11% since end of May. And...
Chinese steel stocks down, India in buying mood, EU next? – Stainless Espresso
15 June 2023 – Steel demand has picked up significantly since the beginning of June, as can be seen not only from falling inventories in China but also from significantly higher demand from India. And in the European Union, too, there are increasing voices that...
China cuts key interest rate, nickel price jumps upward – Stainless Espresso
14 June 2023 – China surprisingly cut standing lending facility interest rates, which was very positively received by the markets. Nickel prices reacted promptly. The EU goes on a buying spree for critical commodities in Mercosur countries – but does it...
Permit for US copper-nickel mine project withdrawn – Stainless Espresso
13 June 2023 – The US government has withdrawn a permit from a copper-nickel project due to environmental concerns. Could the project, which is supposed to reduce dependence on external suppliers, possibly still be saved by the right approach? What is the...
Japan’s economy surges with impressive momentum – Stainless Espresso
12 June 2023 – The economy of Japan is growing at an astonishing pace, leaving the other industrialized nations behind. Financial analysts are much more optimistic about the US economy. Mining giant to invest USD 1.5 billion in copper mining. And India would...
The growing Green Steel concerns – Stainless Espresso
9 June 2023 – The world is increasingly concerned about Europe’s border adjustment tax CBAM and green steel. And the US government is also considering a CO2 tax but faces the challenge of finding a workable solution – which the EU has not yet been...
OLAF report 2022: Systematic fraud in steel imports? – Stainless Espresso
8 June 2023 – The latest OLAF report by the European Anti-Fraud Office for 2022 shows the importance of working with reliable, professional, and clean traders and importers in a case of systematic fraud in steel imports. Nickel demonstrates growth and stability...