Jan 15, 2024
Asia’s steel market in high tension: Festivities drive up prices – Stainless Espresso
2024-01-18
15 Januar 2024: The Asian market is experiencing a boom ahead of the Chinese New Year celebrations: demand for steel and stainless steel is growing, stocks are shrinking and prices are climbing. Aluminum scrap: shortages in China despite significantly increased imports in 2023.
Ahead of Chinese New Year: steel and stainless steel prices on the rise
The Asian market is experiencing a boom ahead of the Chinese New Year celebrations: demand for steel and stainless steel is growing, stocks are shrinking and prices are climbing. A veritable firework display of activity awaits the industry!
Stainless steel: full order books, rising prices
Stainless steel is also in full swing. Stable, sometimes rising prices and falling stocks are the order of the day. Some manufacturers are already fully booked and are not accepting any further orders for January. So it’s time to be quick.
Aluminum scrap: China in a buying frenzy
China’s imports of aluminum scrap are literally jumping upwards: A 15% year-on-year increase from January to November 2023. In November alone, imports grew by a whopping 40% compared to the previous year.
Aluminum scrap: shortages in Asia
The Chinese industry is scrambling for aluminum scrap. The high demand is meeting with scarce availability. The result: rising prices and heated market sentiment.
Source: Steel News
