Market developments stainless steel fasteners December 2020
We receive questions on a regular base from our partners concerning the price developments of stainless steel fasteners. A Logical consequence... considering the ever fluctuating market movements! Important stakeholders such as banks and manufacturers make forecasts, but often they don't get it right. Which external influences are important? When is a perfect time to place an order? What is currently going on and which forecasts can be made? To answer these questions our CCO Dennis Steegman will share his vision on the stainless steel market on an monthly base.
What is going on this month and what can be expected?
Once again we have seen the price of nickel on the London Metal Exchange increase. Another component copper is rising to its highest price in the last 7 years. Copper is mainly used to make stainless steel easier to deform such as screws with a recess. This results in a small increase of about 3.5% on the pre-material and 5% on stainless steel containing copper. This increase is hardly noticeable in the orders we place with our partners.
At the moment the Covid pandemic is still a hot item. Many parts of Europe and the world are again taking measures in connection with the 2nd wave. A problem that is currently looming is the overcrowded container lines from the Far East to Europe. It is expected that delays of up to 3 to weeks will have to be taken into account in the coming period.
Slightly rising prices and delays in prospect. With this we conclude an eventful 2020.
