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.
|Foto: Marc Weigert|
Following the January official average prices reported (€/pmt delivered):
New arising E8:
Demolition scrap E3:
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.
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