Italy

The company made this decision due to high electricity costs

Factories may idle capacity after summer shutdowns for repairs if buyers refuse to accept higher prices

June production was 14.2% lower than the same month in 2021

Euro and dollar exchange rates are nearly equal, which could help European flat steel prices reach bottom and stabilize

The total capacity of the two companies is about 6 million tons of metal products per year

As of June 24, the HRS index from Argus was €784.5/t compared to €1350/t in mid-March

In May, the production of long products fell by 9.4% to 1.1 million tons, flat products – by 14.8%, to 871 thousand tons

Steel production in Italy down 8.1% in March

24 thousand tons of steel products were used in the bridge construction in total

Shipment of earlier manufactured products from Ferriera Valsider and Metinvest Trametal is currently in progress