BNM IS NOW ON YOUTUBE!

BNM’s video profile is officially published on YouTube. By accessing the link, BNM Precision Stainless Steel, BNM welcomes viewers to observe full plant layout, as well as experience entire up-to-date mechanism of BNM’s facilities.

Stainless steel supply capability more important than protest

Stainless steel remains a scarce commodity in Europe. Initial voices are calling for a boycott as a protest against scarce availability and prices. But can that really be a solution? The United States surprised with very good labour market data in October and the $1.2 trillion infrastructure package has passed through Congress. Markets wait for US stock exchanges.

Limited price corrections in stainless steel

Stainless steel price corrections limited. After coal prices were adjusted in China, other products such as stainless steel and nickel also corrected. However, these corrections are very limited. The United States is flying home with a victory in the steel and aluminium dispute and for the EU there could still be some internal trouble in the current solution.

EU-US tariffs: Is everyone happy now? Or not?

The EU-US dispute over steel and aluminium tariffs has been paused for the time being. Agreement has been reached on a quota system for European steel exports to the United States. But are all sides satisfied with this or has the solution simply been postponed until the outcome of the next US presidential election in 2024? The European Union is doing too little to secure its raw material supply chains. And economic growth in the Eurozone is currently the highest in the world – despite bottlenecks in procurement.

Magnesium – EU industry concerned about shortage

The EU industry is deeply concerned about an emerging shortage of magnesium. Magnesium prices have skyrocketed since September 2021. According to industry associations, Europe will run out of magnesium by the end of November – if nothing happens. A home-grown crisis, as the EU relies 95% on cheap imports from China. Metal values on the LME, such as nickel, aluminium, zinc and lead, rose again on Monday morning. And stainless steel in Europe more expensive due to shortages.

Aluminium and nickel rally continues

Nickel and aluminium staged a strong rally on Friday. Nickel briefly jumped back above $20,000. Aluminium joined the trend and briefly jumped above $3,200. And there has been a fire at the Italian stainless steel producer Marcegaglia.