9 August 2024 – Nickel prices in Asia rose by up to 2.5% in some cases on Friday. Nickel prices are also rising on the LME today. And after a significant improvement in sentiment on the US stock markets on Thursday, the Asian markets followed suit on Friday.   Asian nickel prices rose by up to 2.5% on Friday Nickel futures on the Asian commodity exchange SHFE rose by 2.3% (ni2409) to 2.5% (ni2408) on Friday. Chinese spot market prices for nickel also improved by around 2.5%. On the London Metal Exchange (LME), the nickel price rose by around 1.6% shortly after the start of trading. US stock markets in a good mood, Asian stocks follow suit After share prices on the US stock exchanges had already recorded gains on Thursday due to good labour market data, the Asian stock exchanges followed suit on Friday. The Nikkei 225, TOPIX, KOSPI and Hang Seng ended the trading day up by more than 1.3% in some cases. The Dow Jones Industrial Average rose by 1.8% on Thursday, the S&P 500 by 2.3% and the NASAQ Composite by as much as 2.9%. The Stainless Espresso is taking a short break The Stainless Espresso and the steelnews.biz...

1 August 2024 – Asian nickel futures rose again today, Thursday. Nickel prices on the Chinese spot markets are also continuing their rise. And a first interest rate cut by the US Federal Reserve is approaching and is expected in September. After significant price increases in nickel futures on the SHFE commodity exchange on Wednesday, as well as in spot market prices, prices rose again today, Thursday. The SHFE nickel contracts ni2408 and ni2409 rose by more than 1.7%. Nickel prices on the Chinese spot markets, which had already started to rise on 26 July 2024, rose by up to 0.85% today. Overall, prices here rose by more than USD 1,000/mt in some cases. Chinese stainless steel prices for cold-rolled coil rose by up to 1.05% today, depending on the grade. Prices for stainless steel scrap rose by around 1%.

About the tolerances of the goods. This will occur in steel cooperation in any country, and there are clear and detailed provisions in the implementation standards of each country.

China’s Ministry of Commerce has announced that it wilinitiate an expiry review of the antidumping duties on stainless steel biletsand hot-rolled stainless steel plates from the European Union, the United Kingdom, South Korea and lindonesia. The review, whichwill start on July 23 this year, is expected to be completed before July 23, 2025.The period of review is january 1, 2023 through December 31, 2023. in order to assess injury, the ministry will examine the periocfrom January 1, 2019 through December 31, 2023. The review wilexamine if termination of the antidumping measures on theimports from the given regions and countries will result in injury to the domestic industry. The current antidumping duties on the given products are at 43.0 percent for the EU and the UK, 23.1 percent for South Koreanproducer POScO, 103.1 percent for other South Korean companies, and 20.2 percent for all lindonesian companies The products under review currently fals under Harmonized System (HS) tarif classification numbers 72189100. 7218990072191100,72191210,72191290,72191312,72191319,72191322,72191329,72191412,72191419,72191422,7219142972192100,72192200,72192300,72192410,72192420,72192430,72201100.and 72201200.

Due to the chaos of the international market and the large difference in steel prices, it is necessary for you to conduct a separate PMI test for the goods before shipping. (Mainly for stainless steel, Monel alloy category)

The steel industry underpins the global economy. It is deeply intertwined with other industries like automotive, construction and energy – making it subject to risks and opportunities from multiple directions. Decarbonization initiatives also have significant implications for anyone buying, selling or trading in steel markets. These risks include shifts in international competitiveness and the financial risk associated with carbon pricing and regulations. On 8 June, Fastmarkets launched a suite of green steel prices to bring clarity and support investment decisions needed to reduce emissions. You can understand the critical forces impacting steel news and steel price movements with our reliable data-driven insights, market-reflective prices, forecasts and analysis. Navigate the complexities of the steel industry and make informed decisions with our global coverage of steel market news, steel price developments, steel market trends, forecasts and analysis. Our steel and steel raw materials market experts provide global and local data-driven insights combining the commodity intelligence of familiar names like Metal Bulletin, American Metal Market, Scrap Price Bulletin, Industrial Minerals and more.