According to Ruggero Alocci, there are some good news: the raw steel production is increasing at around 1 % per week and several mills have announced price increases on stainless and carbon steel for July.
Genova – The purchases of the Turkish mills in June (more than one million tons) will help the European and U.S. scrap traders to cross the summer. The low freight rates will also support the small and medium seized operators to export scrap to the Far East countries by containers. This means that companies can approach the summer holidays with more confidence. The scrap prices correction which started from the second half of June (plus USD 50 and EUR 30 from the lowest level) is a good vitamin for the short future.
The prices paid by the Italian mills in June have been reduced during the first three weeks with a small recovery at the end of the month. Now the mills are following the international prices, even if they are not supported by the low sales volumes. Steel mills have scheduled an average work stop of four weeks during the summer. That will help the end-users to limit the rise of prices.
The arrivals by vessel have been round about 13,000 tons of pig iron, about 20,000 tons of scrap and 16,000 tons of HBI.
The June average prices reported by the Mills Association (EUR/pmt delivered):
New Arising E8:
• Domestic: 155
• from France: 165
• from Germany: 165
Shredded E40:
• Domestic: 165
• from France: 160
• from Germany: 160
Demolition Scrap E3:
• Domestic: 145
• from France: 145
• from Germany: 145
Pig Iron – H.B.I.
After a long time, the arrivals at the ports have been very low, voiding the inventories at the ports with a general satisfaction of the traders. Buyers refused the June offers from Black Sea (around USD 280 pmt CIF). This means they will pay higher prices when they return on the market.
Steel
If everything turns out the way the companies want it, the prices are long-living and the consumption recovers.
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