RISING STAINLESS STEEL PRICES

This week was marked by the approach to secure the supply of steel and stainless steel and that boycotts in the current situation simply lead to available tonnage being bought by someone else. Especially in view of the US infrastructure bill that will require millions of tonnes of additional steel. Aluminium is still in short supply. Energy prices have risen again in the meantime. And that no changes are currently to be expected in either the EU or the US market for stainless steel.

Stainless steel supply capability more important than protest

November 8, 2021 – Stainless steel remains a scarce commodity in Europe. Initial voices are calling for a boycott as a protest against scarce availability and prices. But can that really be a solution? The United States surprised with very good labour market data in October and the $1.2 trillion infrastructure package has passed through Congress. Markets wait for US stock exchanges.

US infrastructure bill will increase demand for steel

November 9, 2021 – The US infrastructure deal will increase demand by an average of 5 million tons of steel for every US$100 billion spent on it, according to US steel groups – which could amount to a calculated 27.5 million tons. Positive trends on stock exchanges and base metals. Nickel demand remains high – especially for nickel pig iron and pure nickel.

Scarce aluminium stocks

November 10, 2021 – Scarce aluminium stocks on the London Metal Exchange. Stocks fell below the 1 million tonne mark yesterday due to strong demand. Warrant stocks are at their lowest level since 2005. Energy restrictions and capacity constraints are supporting Chinese steel prices. A real solution to the energy crisis is not yet in sight. And metal demand in 2022 is expected to continue to rise significantly.

Asian coal prices on the rise again

November 11, 2021 – Coal prices are picking up again in Asia. Dalian Coking Coal futures jump up to 10%. Indonesian nickel matte producer cuts 2022 production outlook by 13%. Base metals rally. SHFE aluminium futures up over 3%. Urea for trucks in short supply in Asia.

EU stainless steel market expects no changes

November 12, 2021 – Even if some steel producers are trying to unsettle their customers on the EU stainless steel market with rumours, the current market indicators show something quite different. Behind the rumours, however, could be a manufacturer’s desperation over its own inability to deliver. US stainless steel prices at highest level since 2011. And in China HRC futures rise by up to 8%.

Source: https://steelnews.biz/rising-stainless-steel-prices/