QBE publishes Metals Update Spring 2022

Metal

By QBE Senor Underwriter Ally Connolly

Sector Overview

Metal prices in the UK and Europe have remained elevated versus pre-pandemic levels in 2022. The end of March rounds off an extremely volatile month for product availability and bullish pricing which is largely down to the Russia/Ukraine conflict and energy cost inflation. Despite market volatility, demand remains strong in end markets and margins across steel service centres, traders and producers are healthy. This report touches on some pertinent headwinds that this sector faces which we believe could pose a serious threat to supply chains across the industry, adversely impacting trading and liquidity for many downstream businesses. In the absence of Government backed Covid-19 initiatives we expect insolvencies to increase throughout the year.

To access the full Metals Spring Update 2022 CLICK HERE

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About QBE

QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.

As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.

We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.

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