Confectionery "Italy" reopens BF No. 2
Italian flat-rolled steel manufacturer Acciaierie d'Italia (ADI) restarted blast furnace No. 2 at its plant in Taranto on February 10, the steel company's emergency administration said on February 21.
Earlier this month, the company announced plans to double steel production to 4 million tons per year by April 2026. Maintenance of furnace No. 4 is also planned at the steel plant, which will begin on February 28 and last 60 days.
Market sources commented that the decision to increase production for the steel company is timely, as European buyers are faced with higher import prices due to the introduction of the carbon dioxide Emissions Control Mechanism (CBAM) in January. In addition, import quotas are expected to decrease sharply from July, making imports more risky.
As a result, more and more European buyers are turning to domestic suppliers, which allows domestic prices to rise despite the lack of recovery in demand from end users.
In Italy, transactions for domestic hot—rolled coils (HRC) were reported at a price of 660-670 euros per ton from the factory, which corresponds to prices in Northwestern Europe, which were previously traded at a premium. Some domestic steel producers have also become more ambitious in their offers in Southern Europe, as the region is traditionally more dependent on imports, and expect to receive 750 euros per ton for delivery in May for rolled HRC
.Currently, ADI is in the process of being sold, and the American investment company Flacks Group, specializing in the rehabilitation of troubled enterprises, is considered on the market as a likely new owner. The tender has not been completed yet.
Author: Maria Thanatar
Opisnet.com