As is reported by Ruggero Alocci from Alocci Rappresentanze Industriali, the global recovery is proceeding at different speeds in the various regions. Driving the global rebound were the amount of policy stimulus, the interest rates down to record lows and the public support of the financial sector. But at the same time there are still indications that private demand is taking hold, at least in advanced economies.

Genova – Commodity prices rose strongly during this stage of recovery, despite generally high inventories, but this upward pressure is expected to be modest for 2010. The tighter fundamentals in the steel markets do not suggest further price increases for the next months.

In Italy, the mills restarted the production around the 10th of January, but at a low rate. The negative weather conditions maintained the scrap availability very short and the steel makers used the prices as stimulus for receiving the quantities they needed. The scrap prices increased round about EUR 25 for contracts from France and Germany with some higher peaks on the domestic market.

The January average prices reported by the Mills Association (EUR/pmt delivered):


New Arising E8:
• Domestic: 220
• from France: 230
• from Germany: 230

Shredded E40:
• Domestic: 230
• from France: 230
• from Germany: 230

Demolition Scrap E3:
• Domestic: 205
• from France: 220
• from Germany: 220

It is expected that in February the scrap prices will decline, considering the poor pricing and sales of finished products.

Pig Iron - H.B.I.
The new offers for deliveries in March are reported around USD 400/420 CIF, but the buyers are postponing the new purchases. The last HBI offers are reported around USD 350 CIF.

Steel
Prices of long and flat products rose a little bit, but the lack of sale volume is the big touble.

Quelle: Alocci Rappresentanze Industriali

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