Tariffs, geopolitical tensions, new trade barriers, high energy prices, and the restructuring of supply chains are redefining the environment in which Italian steel and steel companies operate. These are the main issues at the Assofermet autumn conference, held on Friday, October 2, at the Confcommercio headquarters in Rome, entitled "Risk Markets and Opportunities for Companies."
Opening the event after a video greeting from Confcommercio President Carlo Sangalli, Assofermet President Cinzia Vezzosi noted that the name chosen by the association a few months ago turned out to be "almost frighteningly relevant" against the background of recent international events. According to her, businesses today have to work in conditions of ongoing conflicts, geopolitical instability, stricter restrictions on steel imports and the CBAM mechanism entering the most economically sensitive phase.
At the same time, Vezzosi emphasized not only the risks, but also the strengths of Italian small and medium-sized enterprises. She noted their ability to respond quickly to changes, overcome difficulties and adjust strategies "in months, not years."
The first discussion session was moderated by Sissy Bellomo, editor of the Commodity and Energy Markets section of Il Sole 24 Ore. It was attended by Natalino Loffredo, Advisor to the Minister for International Trade Policy at the Italian Foreign Ministry; Antonio Villafranca, Vice President for International Trade Affairs at ISPI; and Alessandro Panaro, Head of Shipping and Energy at SRM - Studi e Ricerche per il Mezzogiorno.
One of the key topics has become the increasing use of economics as an instrument of political pressure. According to Villafranca, the degradation of the international order has been going on for at least 15 years, and trade, tariffs, raw materials and infrastructure are increasingly intertwined with the logic of the struggle for influence. "Everything becomes a weapon, including the economy," he said, pointing in particular to the so—called bottlenecks — strategic straits and routes through which goods, energy and hydrocarbons pass.
The tension around the Strait of Hormuz has shown how the concentration of trade flows on a limited number of strategic routes can affect global supply chains. Alternative routes and additional infrastructure can reduce vulnerability, but they almost inevitably lead to higher costs.
This point of view was supported by Alessandro Panaro, who noted that companies now have to take into account a new expense item — geopolitical costs. "Logistics is like water: costs can rise, but it will still find a way," he said. Longer routes, additional fees, and port congestion add to the cost.
