According to Ruggero Alocci from Alocci Rappresentanze Industriali the recent economic forecasts are showing the recovery in three stages. The first has been the global re-stocking in late 2009, the second will be a rise in business investment in mid 2010 and the third will be more consumption from Q4 2010 onwards.
Genoa – In February the Italian mills worked at low levels. The scrap generation (the national car manufacturers stopped production for two weeks) and the strong winter maintained a short availability. The steelmakers are still pushing the prices in order to book the scrap for covering their needs. Scrap prices remained basically unchanged, also for the contracts from France and Germany, but deliveries have been short. The inventories of the mills are very low and any small movement in the production means a rise of price. Round about 15,000 tonnes of scrap have been exported from Italy.
The February 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: 200
• from France: 220
• from Germany: 220
During March the scrap prices will follow the mills’ demand, fighting with the low availability. Prices will rise further.
Pig Iron - H.B.I.
The offers for deliveries in April are reported around USD 420 CIF and the buyers remain on waiting position. The last HBI offers are reported around USD 360 CIF.
Steel
Hard job for the producers to rise the prices and to increase the sale volumes.
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