Italy

In general, on the European hot-rolled market trade of products is limited. Restocking is expected no earlier than next year

In 10 months of 2022, steel production in Italy decreased by 10.8% y/y

A third of the funds will go to tax credits for enterprises

Italian producers raise prices, and Turkish producers are forced to lower quotations

The main concern is the fall in prices in January

Quotations of rebar in Turkiye last week fell by 3.6%, in Italy – by 5.5%, in China – by 2.6%

Currently, there is no optimism about the recovery of demand at the end of 2022 or in the first months of 2023

In January-September 2022, steel production decreased by 11.1% y/y

Tax discounts included in the decree «Aiuti ter» will allow reducing the impact of energy costs in energy-intensive industries

In August 2022, the average spot price for electricity in Italy was €537 per MWh, compared to €229.6 per MWh in January 2022

In January-August 2022, steel production decreased by 10% y/y

The size of the surcharge to the product price can amount to €200-300 per ton of rolled steel