From January to September 2024, the European Union's imports of direct reduced iron (DRI) increased by 3.1% compared to the same period in 2023, reaching 2.09 million tons, according to Eurostat data.

The EU Steel Action Plan, vigorously advocated by the steel lobby, poses a significant threat to the competitiveness of small and medium-sized enterprises (SMEs) within the downstream industry.

Once more, the Indonesian government has issued a caution regarding the decline of nickel reserves within the nation, urging for their conservation and the exploration of new deposits.

Indonesia's nickel reserves may soon be exhausted, as per the Mineral and Coal Program Development at the Indonesian Ministry of Energy and Mineral Resources.

Nickel prices surged on the LME as trading commenced this Friday. Noteworthy price hikes are being observed across Asia for most base metals, with nickel among them. Additionally, Taiwanese stainless steel manufacturers have implemented price increases for November 2024.

German steel manufacturers are currently benefiting significantly from reduced energy costs, a fact often overlooked amidst their persistent complaints and calls for government intervention.

The world stainless association released figures for the first half year of 2024 showing that stainless steel melt shop production increased by 6.3% year–on–year to 30.4 million metric tons.

Iron ore and steel prices in Asia rose today (Monday) on the back of more positive market sentiment. Asian stocks are also joining the more optimistic outlook, posting gains at the start of the week.

During the recent ECB press conference discussing the impending interest rate cuts in the EU, the ECB reiterated that escalating tariffs and trade barriers would adversely affect the European Union's interests. Additionally, encouraging economic indicators from the United States, Europe, and the UK underscore the resilience of these economies.

Today we ask ourselves whether the Chinese stimulus programme is possibly being underestimated by the market and whether it might not also provide solutions for growth in Germany and Europe.

A major Indonesian stainless steel mill is once again increasing its prices due to the high nickel levels.

On Monday, there was a significant upsurge in nickel prices on the Shanghai Futures Exchange (SHFE) in Asia, surging by over 3.2%.