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Oct 23, 2024

Rising stainless steel prices expected in Taiwan

by Gerber Group | Oct 22, 2024 22 October 2024 – Rising stainless steel prices expected in Taiwan due to high raw material costs. Increased European demand for NPI and slabs from Asia continues. And

by Gerber Group | Oct 22, 2024

22 October 2024 – Rising stainless steel prices expected in Taiwan due to high raw material costs. Increased European demand for NPI and slabs from Asia continues. And the European Parliament agrees with the EU Commission on closer cooperation.

The Taiwanese stainless steel market is expecting prices to rise in the coming weeks due to higher raw material costs. Market participants are currently expecting price increases of between USD 80 and 100 per tonne.

Overall, Asian and European stainless steel producers are currently tending to either replace the increasingly scarce stainless steel scrap with a higher proportion of nickel pig iron in the EAFs or to rely on slabs for rolling from external production. In Europe in particular, there are increasing reports that domestic stainless steel manufacturers are turning to NPI and importing slabs from Asia in order to save costs.

A piece of news that pleases us will certainly displease some lobbyists. On Monday, European Parliament President Metsola and European Commission President von der Leyen announced in a joint statement that Parliament and the Commission have agreed on closer cooperation and will adapt the Interinstitutional Framework Agreement to this end.

The EU Parliament, which was previously seen by many as the junior partner of the Council and the Commission, will gain greater influence over the legislative process in the European Union as a result of this new regulation and will now also be able to instruct the Commission to draw up legislative initiatives. Previously, this was only possible to a very limited extent or not at all.

The Parliament has also demanded that the Commission provide comprehensive justifications and information on the exceptional cases in which the Commission’s proposals are based on Article 122 TFEU. Article 122 has so far enabled the Commission to decide on emergency measures together with the Council of Member States, bypassing the EU Parliament. In addition, a clear mechanism for the utilisation of the urgency and fast-track procedures is to be defined.

Whether the Commission will actually honour these commitments is, of course, not yet foreseeable.

We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.

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.