According to Ruggero Alocci from Alocci Rappresentanze Industriali, there are some good news at the end of this year: Destocking seems to continue, the industrial production is growing, delivery times are lengthened again, order backlogs are rising and the GDP of USA and European Union is showing a small plus.
Genoa – In November the Italian mills were conditioned by the moderate scrap inventories, while the production level remained low. The domestic prices increased weekly, but at the end of the month the suppliers agreed with the prices and the deliveries improved.
The November average prices reported by the Mills Association (EUR/pmt delivered):
New Arising E8:
• Domestic: 175
• from France: 170
• from Germany: 175
Shredded E40:
• Domestic: 185
• from France: 170
• from Germany: 175
Demolition Scrap E3:
• Domestic: 160
• from France: 160
• from Germany: 165
Pig Iron - H.B.I.
The short arrivals at the ports (round about 20,000 metric tons of pig iron and 6,000 metric tons of scrap in November) and the improved demand have increased the prices for pig iron up to USD 340 CIF for January shipment. New offers for February/March delivery are reported at higher prices. The last HBI offers are following the increases.
Steel
Markets for billets, rebars and profiles are still quiet. The flat products are doing a little better.
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