Market developments stainless steel fasteners November 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 rise. This results in a small increase of about 3% on the stainless Steel prices. 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. For the time being, we do not see any problems!
Then, of course, there are the elections in the United States. Whatever the choice of the Americans, it will affect the USD exchange rate. This will affect the prices of our purchases in Asia.
It should be clear. Politics and the pandemic are important factors at the moment in terms of availability and price.
