Genoa -- Despite the concerns about European debt markets and uncertainty economic growth, but also the Arab Spring and the Occupy movement, the business optimism is closely reflected in the public spending plans that Europe and USA governments have to launch in the future. In short, low business confidence, moderate economy growth, the tax increase and the rising youth unemployment are suppressing the citizen spending power. That means also less steel consumption. To be optimist is priceless: Even during the worst crisis, positive business opportunities are available for who is prompt to seize on the right moment.

The rise in the prices stopped during January also in Italy, following the general trend. On the Italian market the first price cuts have been seen during the W4, after the previous increases up to €20 pmt. The monthly contracts settled with the usual European suppliers reported raise around €15/20. The deliveries have been delayed by the truck strikes (three / four days), but the mills inventories are enough to cover the needs, considering that some mills restarted the production during the W3. January arrivals by vessel were abt 40 Kt the scrap, abt 60 Kt the pig iron and 105 Kt the HBI.


Following the January official average prices reported (€/pmt delivered):

New arising E8:
Italy 340
France 345
Germany 345

Shredded E40:
Italy 345
France 350
Germany 350

Demolition scrap E3:
Italy 320
France 320
Germany 320

The February prices will be driven by the weaker market and demand but balanced by difficulties in the logistic due to the strong winter, just arrived.

PIG IRON - H.B.I.

The lower pig iron consumption maintained the ports, resellers and mills inventories well covered even if the arrival were lower than the standard volumes. Last pig iron offers are quoted around $480 pmt CIF for March shipment, it means around € 380pmt delivered end-users. As expected more important were the HBI arrivals from Russia and Venezuela being the prices more attractive for the end-users. The last offers are reported around US$ 420 pmt CIF.

STEEL

The flat products prices have been rewarded with €30/50 increases, a rebound from the bottom they touched in December. The long products are as usual following the up and down scrap price movements. The sale volumes remain conditioned by the slow economic growth.

Quelle: Alocci Rappresentanze Industriali

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