Genova - The last fragile improvements are not enough to show visible repercussions of the economic downturn, with a corresponding positive impact on steel consumption, says Ruggero Alocci from Alocci Rappresentanze Industriali. Even China and India indexes are turning back from the highs.
According to Alocci, there will be some more time with heightened price volatility and some stop-and-go in the steel production. But mostly he fears upcoming new regulations and related costs, such as the JCR EU end-of-waste criteria, REACH and the UN Copenhagen climate summit.
During October, the Italian scrap mills reduced their production further, well balanced by the scrap deliveries from domestic suppliers. The arrivals by vessel in October lay below 20,000 mts the pig iron, 3,000 mts the scrap and 18,000 mts the HBI.
The October average prices reported by the Mills Association (EUR/pmt delivered):
New arisings E8:
* domestic 170
* from France 175
* from Germany 175
Shredded E40:
* domestic 180
* from France 175
* from Germany 175
Demolition scrap E3:
* domestic 155
* from France 165
* from Germany 165
The November and December prices will be conditioned by the scheduled production stoppages due to the lower steel demand.
Pig Iron - H.B.I.
Lack of demand and few orders are reported for October. The arrivals have been the lowest since long time.
Steel
Market is quiet.
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