September 14, 2022 – Stainless steel prices are influenced by various factors. In addition to nickel and ferrochrome, important indicators include 300 series inventories and stainless steel scrap prices. Demand for rebar in Europe is good, prices are expected to rise. Also on scrap metal: metal recycling should not be sacrificed at the EU border.
Stainless steel prices: Stock draining and scrap price rising
The 300 series stainless steel is one of the major trends in stainless steel pricing. It’s no wonder, then, that reports of 300 series stock depletion from China and other Asian countries are influencing spot prices and driving them up even further.
Stainless Steel Scrap Prices Rise Significantly
Additionally, Asian stainless steel scrap prices have risen significantly by more than 8% since mid-August.
EU rebar prices rise
According to recent reports, European rebar demand was good until the end of August and was further fueled by the prospect of higher rebar prices in the coming months. Especially in view of the costs of energy, scrap metal and transport, it is currently still worth booking in order to replenish depleting stocks. Not just for rebar.
Scrap metal: metal recycling should not be sacrificed at the EU border
Steel and aluminum scrap are the strategic raw materials of the near future. And they are high on the priority list of the European manufacturers’ associations EUROFER (steel producers) and EUROPEAN ALUMINUM (aluminum producers).
Industrial lobbies want a ban on scrap metal exports
We have already pointed out on several occasions the possible new regulation on waste shipments of the European Union, which, together with the carbon border tax CBAM, is supposed to, if not prevent, at least massively hinder international competition in favor of manufacturers of the EU.
Recommended Reading: Circular Metal Doesn’t Need To Be Sacrificed At The European Border
Under the title ‘Circular metal doesn’t need to be sacrificed at the European border’, recycling today has just published an interesting article on this subject, which we recommend you read here.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
