Profit recovery drove up operating rates of EF steel mills

"Interpreting Global Nickel and Indonesia Stainless Steel Industries: Supply-Demand Dynamics and Outlook"Stainless Steel Industries**

During the survey period (April 30-May 6), the weekly output of rebar decreased and the output of wire rod increased at steel mills in central China this week. The total inventory of steel mills increased slightly, but the inventory trends of rebar and wire rod were differentiated. It is expected that the output of steel mills in central China will increase in the next period.

Last week, on April 25th, the UK government made a significant announcement regarding the Deposit Return Scheme (DRS) for drinks containers.

Overnight, the most-traded SHFE nickel contract opened at 130,850 yuan/mt, and closed at 132,590 yuan/mt, up 990 yuan/mt.

DMC prices in the online shopping mall of Shandong-based plants opened at 15,500 yuan/mt this week, down 300 yuan/mt WoW. Offers from leading DMC plants were 15,200 yuan/mt this week, down 1,300 yuan/mt, while those from other plants were 15,300 yuan/mt. Mainstream transaction prices dipped by 400 yuan/mt WoW. 

Tom Giddings, executive director of Alupro, looks to the year ahead and explains what the aluminium packaging recycling industry wants to see in 2024.

This resource update can be reflected in the company's valuation and potentially change the coming-up acquisition landscape.

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