Market Information Wednesday 30 June 2021

The global steel industry may have to face up to USD 70 billion in stranded assets in the coming years because the industry is still building large steel plants using coal which will become obsolete as the world reduces carbon emissions. Some 50 million tonnes of steelmaking capacity using blast furnace technology is under development. According to U.S.-based think-tank Global Energy Monitor (GEM) most of the capacity is being developed in China.

The Dutch cabinet is reducing the corona emergency support to companies. After the third quarter, the support and recovery package will no longer be extended. The cabinet has decided accordingly because of the positive news on the corona pandemic and subsequently the more favourable economic developments.

Selling prices of Dutch industry rose sharply on an annual basis in May. This was revealed on Wednesday from figures from the Central Bureau of Statistics. Selling prices rose by 12.9% in May compared to May 2020. In April there was an increase of 12.2%, in March the annual increase was 7.1% and in February of 0.9%. In the eleven months before that, there had been declines.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.13% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.