Steel prices continue to take centre stage in the new year.
Metal companies, distributors and customers note delays in steel orders and an increase in prices. A temporary mismatch between the supply and demand that it is not known if it will stabilise during the first half of the year.
With the halt in activity in 2020, which seems like yesterday, but almost two years have already passed since the start of the pandemic, companies emptied their stocks in the face of economic uncertainty. With the start of the year 2022, the improvement in the outlook and the increase in orders has significantly increased the demand for steel, which is partly compromised by all the economic circumstances that are happening in this globalised world.
After more than a year and a half of harsh measures, sanitary restrictions decline to a great extent in almost all of the Spanish territory, as well as in the countries that export our products. From Grupo Jover we think that this decision will mean an increase in the domestic consumption of goods such as footwear and leather goods, as is also expected from the sector.
There is no doubt that the change in the USA presidency has helped improve its trade relations with Spain. The recent announcement of the postponement of the increase in tariffs on Spanish footwear was joined a few days ago by the agreement around the G7 to achieve fiscal harmonization for large multinationals. In addition to these announcements, on June 15, the suspension for five years of the special tariffs that were levied on Spanish products such as wine or olive oil at the United States borders. This pressure measure was implemented in retaliation for the Airbus-Boing conflict, a trade dispute with the European Union for the past 17 years.[gallery ids="28268"]