How are world market prices for stainless steel developing?

Opinions differ on the trend in market prices for steel and stainless steel. Some are singing the song of the end of the steel market boom. Others see no end in sight. In China, at any rate, domestic stainless steel prices are rising to a 4.5-year high. And the European Commission seems to be about to initiate further anti-dumping investigations on steel products.

HDG market expects further EU anti-dumping measures

The market for HDG coils (hot-dip galvanized) expects the European Commission to launch new anti-dumping investigations against HDG products from Turkey and Russia in the coming months. According to market sources, these seem to be about to be published by the EC.

Russia and Turkey in anti-dumping focus

Turkey and Russia in particular are currently not subject to any specific country quotas and imports from there have increased significantly in recent years. Due to shortages in automotive chips, some HDG quotas appear to have been underutilized in the second quarter of 2021.

Chinese stainless steel prices continue to rise

Domestic stainless steel prices in China have climbed to a 4.5-year high. The current price increases are due to higher production costs, especially for nickel. World market prices for stainless steel have also risen significantly in recent months.

How are world market prices developing?

In recent days we have already reported on an increase in stainless steel prices. Currently, therefore, the question is what will happen to world market prices for stainless steel if China implements the announced export duties on steel and stainless steel products?

Current influencing factors:

• Rising production costs for stainless steel, e.g. due to nickel
• Cut of Chinese tax rebates on steel exports
• Very likely introduction of export tax on steel products
• Continuing problematic corona situation in some Asian producer countries
• Overall further shortages on the world market

Price correction for stainless steel not yet discernible

Based on the current factual situation, contrary to some doom and gloom in the industry media predicting a correction in the price of steel, we cannot yet see this for stainless steel.

Sources: https://steelnews.biz/how-world-market-prices-stainless-steel-developing/