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Steel: The market enters a deeper recession spiral in 2023 and faces increasing unpredictability for 2024
The slump in steel demand due to inflation and high interest rates, exacerbated by conflict and persistently high electricity prices, clouds the market outlook for 2023. The downturn in apparent steel consumption is expected to deepen further (-5.3%) this year, while...
Aluminium: Norsk Hydro fears influx of Chinese electric vehicles into Europe
Although the price of aluminium has recovered in recent months, it is still well below the glory days of early 2022, when the metal's spot futures price was approaching $4,000 per tonne (it is now around $2,200). The drop is due to Hydro's closure of a smelter in...
Industrial metals: prices rise thanks to the Chinese stimulus forecast and hopes for demand
Most non-ferrous metals rebounded on Monday on the back of supportive economic measures from China, the main consumer, and positive demand for copper, which pushed up prices. Three-month copper on the London Metal Exchange traded in the $8,117/mt area, up 0.33% (09:20...
Stainless steel: China’s net exports increased by 69.1% y-o-y in January-September
China imported 231,500 tonnes of stainless steel in September, up 32.59 per cent on the month and down 14.95 per cent year-on-year, while it exported 343,000 tonnes, down 6.36 per cent on the month and up 22.11 per cent year-on-year. Chinese imports and exports of...