May 2020 is proving to be the low point for the metal industry. However, destocking is continuing and the expectation over the summer period will not bring a revival.
A strong interim recovery could then begin in September, some mills are reacting to the weak order intake with periodic shutdowns. There are no bottlenecks. At present, scrap stocks are low due to Corona, but this will level off quickly. Demand for primary raw materials (nickel, molybdenum) is therefore relatively high and is stabilizing the price trend. For the market as a whole, experts estimate a global decline in stainless steel production of over 10 percent. It must be expected that the EU will continue to restrict steel imports in order to protect domestic producers and push ahead with urgently needed reforms (from coke/coal to hydrogen/renewable energies). This means that even if prices are under pressure in the short term because of a lack of demand, prices are more likely to rise again in the medium term.
After Hempel Special Metals has received the ISO13485:2016 approval for the medical industry in 2015, we have now also been able to obtain the EN9100:2018 certification.