The Polish market remains dependent on imports
In 8 months 2024, the share of imports in apparent consumption was 82%
Polish steel industry is going through difficult times: domestic production is decreasing, and demand is mostly met by imports. Polish plants are losing their competitiveness, in particular due to the high cost of electricity. More and more products from Asian countries are appearing on the market – distributors are looking for options to meet domestic demand at the most profitable offers.
Despite the problems of the steel-consuming industries, Poland remains a large enough market in which local producers are able to regain their position, and the upcoming launch of Hut Czestochowa could be the first step in this direction.
More details — in interview with Piotr Sikorski, the Head Manager at Polska Unia Dystrybutorow Stali (PUDS).
What dynamics of steel consumption in Poland do you see this year? What are your feelings about the market?
When we talked about the steel market in Poland last year, it may have seemed that the first half of the year was moderate, but if we repeat it somehow, the market will end the year on a positive note. It turned out that this was only the beginning of problems that unfortunately continue to this day.
It’s a very tricky year we have. Looking at the data alone, it may seem like the market is improving, as we’re seeing an 8% y/y increase in consumption so far this year. It looks quite impressive, but please remember about the low base effect. Moreover, only in August did consumption drop below 1 million tons/monthly for the first time this year – below the stable minimum for the market. However, if we look at the market more broadly, the picture is not so positive. Since mid-2023, prices on the Polish market are practically in a downward trend and inventory levels remain high, which with a rising cost is a vicious combination for business profitability. The August and September macroeconomic data are also disappointing, probably reducing GDP at the end of the year to below 3%. This will also drag down the level of steel consumption growth, which will probably drop at the end of the year from the currently mentioned 8%.
How can you describe activity in different steel consuming industries? For example, we see that according to new residential starts construction market in Poland is revitalizing. Is it really so?
The condition of the construction market is currently causing my greatest concerns. As for the residential market, after several months of solid growth, investor activity stabilized in September. There was an 1% y/y decline in building permits and a 1% increase in the number of construction started. The decline in developers’ sales undermine the upward trend. Among the largest companies, this decline was 12% in three quarters, and in the third quarter alone the sale was 44% down y/y. The market currently offers the highest number of flats since 2016. This might be the biggest cause of stagnation, next to uncertainty regarding government’s future housing programs, reflected in a drastic decline in granted housing loans. Unfortunately, this may result in investors suspending projects, denying a much-needed impulse for the steel industry. In other segments, the situation is only worse. In the three quarters of 2024, non-residential construction recorded a decline of 13% and engineering construction by 8%. If I were to look for positives, I would point out the increasing, although still too slow, pace of contracting EU funds from the 2021-2027 budget and the almost three-fold increase in the NRRP budget to be launched in 2025, compared to the current year.
What is import’s share in steel consumption, considering different segments of the market? Market of flat products traditionally depends on imports in the EU. What is the situation in Poland?
Even though the import of steel products to Poland in 2024 is decreasing, and in the case of flat products – remains at the last year’s level, import penetration is still very high.
In January-August 2024, the share of imports in the apparent consumption of all finished products amounted to 82%. For flat products it was 95%, for pipes and tubes – 94%. Due to dominant position of long products in steel production in Poland, the share of import in this group amounted “only” to 57%.
Do you feel any direct or indirect impact of increasing Asian imports? What are the main sources of steel imports in different segments?
As I said, so far in 2024 imports are falling, but despite this, Asian supplies are increasing. These are not yet significant amounts in terms of tonnage, but the growth dynamics is. I am thinking mainly of flat products, which have the highest import penetration. For example, this year we are seeing an increase of over 140% y/y in deliveries of hot-rolled products from Indonesia and a 160% increase in deliveries of cold-rolled sheets from Japan. In my opinion, in terms of volumes, supplies of coated sheets from South Korea are starting to be noticeable for the market – here the increase has already amounted to 91% and even higher from India – 113%, each almost 100 thousand tons this year.
It is worth emphasizing that in each product category, the European Union is the dominant supplier of steel to Poland (mainly Germany), and among third countries, of course, Ukraine.
Is there a chance for Polish steelmakers to increase their share on the domestic market? What conditions are necessary for this?
A very difficult question. If the answer was simple, the level of import penetration of major product groups would look completely different. Poland was and is heavily dependent on imports of finished steel products. To some extent, it is caused by the structure of production. The Polish market produces mainly long products, but consumes mainly flat ones. Therefore, the import of flat products is indeed very high, accounting for nearly 70% of all imports. So, on the one hand, some systemic changes would have to take place, but above all, the Polish steel industry must be more competitive in relation to foreign, mainly European, supplies. There is still a lot to do here, especially with regard to energy prices for mills. I can’t stress this enough: having strong domestic suppliers pays important function of stabilizing both prices and supply. On the other hand, you can`t blame distributors they seek the best deal possible.
Do you see any competition distortion because of continuing imports of Russian slabs in European countries?
Any market disruptions are currently difficult to see, mainly because the market is weak and can be easily compensated. The real test will be a high market, which will proof how strong the dependence on Russian semi-finished products really is. Supplies of Russian slabs to Poland are marginal, but on the other hand, significant import of products, based on Russian slabs is present on the market and doing quite well. This is something that obviously poses a threat to supplies, especially for strategic purposes.
How do you assess the situation on the domestic plates market? What are the main drivers on it?
Poland has all it takes to make this segment develop dynamically, also based on domestic production, which currently accounts for a negligible percentage of deliveries. End customers from construction, shipbuilding, energy, machinery and mining are strongly present on the market, although of course, in the current market situation, they also have their problems. This is a really large market, approximately 1 million tons per year, i.e. 12-15% of all steel consumption in Poland. Unfortunately, it is not sufficiently powered from the military side. Poland spends a lot of money on armaments, but largely buys it abroad. Plates market would look completely different if greater production for army needs was carried out domestically.
How can you assess prospects of Huta Częstochowa’s relaunch? If this plant resumes production, how can it impact on the market? Can the market absorb additional supplies of plates?
There is definitely a place for Huta Częstochowa on the Polish market, both in terms of profile of production and its characteristics. Unfortunately, the mill has a very turbulent history and lacks a stable period in which it could built its position on both the Polish and European markets. And the domestic market is a really large one, of which domestic production accounts for only a tenth. As in the case of other groups of flat products, the level of import is huge.
A year of shutdown is certainly not conducive to rebuilding the plant’s market position, especially in the context of competition such as Vitkovice Steel, which has normalized its financial and ownership situation and also has a stable source of low-emission semi-finished products.
The steelworks begins, so to speak, once again, the old-new stage, as it returns to the state owned company after 20 years. The four-month lease for Węglokoks is probably the first step to acquisition. The value of the facility is still relatively high, and the starting price will probably be higher than the one it had after the bankruptcy of ISD. I hope that production will start in the new year and this time it will become a permanent part of the Polish steel industry.
Source: gmk.center
Thyssenkrupp to axe 11.000 jobs, reduce capacity
Thyssenkrupp Steel says it will cut around 5,000 jobs in production and administration by 2030. A further tranche of 6,000 jobs is to be transferred to external service providers or shed through the sale of business activities.
The steelmaker will lower annual production to 8.7-9 million tonnes, from 11.5mt currently. The reduced volume corresponds to shipments in the previous financial year.
Such a reduction is “in line with market conditions, thus adapting capacities to future market expectations,” it says in a press release sent to Kallanish. The figures are the cornerstones of a key issues paper on the company’s future strategic set up, which was announced previously.
Tk Steel’s separation from Hüttenwerke Krupp Mannesmann (HKM) remains a key element in the capacity reduction. The primary objective is to sell the shares in HKM. If a sale is not possible, tk Steel will hold talks with the other shareholders about mutually acceptable scenarios for the plant’s closure – the first time this option has been explicitly mentioned.
In addition, a processing site in Kreuztal-Eichen is to be closed.
“Comprehensive optimisation and streamlining of our production network and processes is necessary to make us fit for the future. We are aware that this path will demand a great deal from many people,” says tk Steel chief executive Dennis Grimm.
“In terms of operational efficiency and profitability, we still have some catching up to do in key competitive areas. We need to close these gaps if we want to look forward to a positive future,” adds Marie Jaroni, chief transformation officer.
The company maintains that it remains committed to the green transformation and carbon-neutral steel production, and is holding firmly to its intended plan of completing the direct reduction plant that is under construction. A decision on building another DRI plant will only be taken at a later date and under the economic, technological, and political conditions that apply at that time, tk Steel says.
German steel production rises again in October
Crude steel output at German mills in October saw a considerable increase over the corresponding 2023 month, by 15%, to 3.22 million tonnes, according to steel federation WV Stahl.
Notably, year-on year increases occurred at oxygen converter-route mills, by 13%, and electric arc furnace mills, by 19%.
In September, performance between the two remained divergent, with EAF mills’ output up by 26%, while oxygen mills produced 4% less year-on-year.
October production also increased month-on-month, as September’s production was slightly below 3mt, Kallanish notes.
Still, WV Stahl warns that volumes remain altogether low, this year as well as last. EAF mills, especially, kept production down last year due to peaking power prices.
In the year so far including October, crude steel production totalled 31.58mt, which is 5% above the first ten months of 2023.
Christian Koehl Germany
Stahl Gerlafingen suspends redundancy plans
Swiss steelmaker Stahl Gerlafingen is suspending the job cut plans it announced a month ago, as it is hoping for political measures to improve cost conditions.
The company said in October it plans to make another 120 employees redundant, after it had already axed a large number of jobs in spring, when it closed the production line for sections.
In coordination with owner Beltrame, Stahl Gerlafingen’s management will be awaiting the outcome of discussions at political level to alleviate costs. In the meantime, rebar maker Stahl Gerlafingen will instead introduce short working hours, and avoid layoffs, it says in a statement seen by Kallanish.
The mill’s chief, Alain Creteur, has thanked policymakers and administrative bodies for support, and says he hopes the measures will be approved. Such political measures “would somewhat cushion the distortion of the market by the EU”, the statement says, without explaining the EU’s alleged wrongdoings.
The measures under discussion include a temporary reduction of grid fees, an obligation for domestic construction projects to use domestic steel, and a recycling fee for steel. These measures could provide Stahl Gerlafingen with a perspective for the future, allowing Beltrame to hold on to the mill. Beltrame has invested CHF 450 million ($473m) in the mill’s efficiency improvement, and would be willing to continue re-investing future profits, the statement says.
Christian Koehl Germany
Liberty Dudelange unions call for urgent EU intervention
Unions at Liberty Steel’s Dudelange facility are urging the Luxembourg government and the European Commission to take immediate action to secure the site’s future, following delayed wage payments to employees.
The OGBL and LCGB unions have commenced legal proceedings to reclaim the outstanding amount. “The potential for bankruptcy is a significant concern and is further intensifying the existing uncertainties,” unions say in a note obtained by Kallanish. “Employee resentment is heightened by late payments, especially as the end-of-year holidays draw near. This situation, which has become increasingly frequent, is exacerbated with every deadline that is not met.”
“The Liberty Steel group, already compromised by financial controversies, appears unable to fulfil its obligations to its workforce, as well as to governmental bodies, financial institutions, and creditors with whom it has accumulated substantial debts totalling several million euros in Luxembourg. No definitive sales actions have been executed by Liberty,” unions add.
Liberty counters it is “taking decisive steps to address the challenges at Dudelange” and that discussions with a strategic investor have progressed significantly. “We remain optimistic about reaching a resolution soon,” says a Liberty spokesperson.
“Additionally, another potential buyer has already visited the Dudelange site, and we understand the government is already engaged in dialogue with them. We continue to fully cooperate with all stakeholders in a transparent manner to identify a sustainable path forward and secure a new shareholder who can support the company’s future,” the spokesperson adds.
The global steel industry is currently experiencing a prolonged downturn, with market conditions deteriorating to levels even more severe than those observed during the 2008 global financial crisis and 2015 steel market crisis, Liberty points out.
The situation has prompted Eurofer to urge the European Commission to prioritise the implementation of a comprehensive European Steel Action Plan to support the sector.
Liberty Steel intends to sell Italy-based Magona, its Belgian facility in Liege, and Dudelange in Luxembourg. In May, it initiated a strategic assessment of its downstream steel plants in western Europe in response to expressions of interest from multiple parties. The objective was either to establish partnerships through long-term HRC feedstock supply contracts or to divest the units.
The businesses have a combined rolling capacity of more than 2.5 million tonnes/year. Liège and Dudelange produce galvanised HRC, while also offering tinplate for packaging and black plate as a substrate for tinplate. Dudelange is also the sole European producer of Aluzinc. Magona has a long heritage and well respected pre-painted PPGI brand, with its own port access at the plant.
Natalia Capra France
French longs market remains stagnant
The French longs market remains stagnant amid stable pricing and a low volume of order intake across the value chain, Kallanish hears.
The fourth quarter is reflecting a lacklustre performance across all products, as the ongoing weakness in the local construction sector continues to impact steel.
Distributors and mills are experiencing challenges as customers are hesitant to commit to purchase volumes and although there is some modest end-year restocking, both sales volumes and margins are under pressure.
Rebar prices are holding steady in comparison to the end of October. Sellers indicate that current pricing is not a primary concern, emphasising that the key objective is to boost sales; however, there are no indications of a recovery in consumption.
Domestic rebar is pegged at €590-610/tonne ($621.60-642.7/t) delivered, based on volume and customer specifications.
Spanish-origin rebar prices in France are not impacting domestic sales. By contrast, some Italian steelmakers continue to be active in southern France, offering prices that are lower than those in the domestic market.
At present, domestic merchant bar prices also remain stable on-month, hovering at €240-250/t delivered. Including €420/t size extras, effective delivered levels are now at €660-670/t.
The prices for the first category of sections have stabilised month-over-month at approximately €760-770/t delivered.
However, projections indicate a potential increase of €20/t, as a major steel producer stopped sales and is anticipated to elevate its pricing levels, according to sources.
In the first quarter of 2025, multiple mills in Germany and France are scheduled to implement production stoppages for several weeks, aligning with rising energy prices in an attempt to achieve balance between demand and supply.
Many French companies across the steel value chain are currently experiencing financial challenges, leading to delays in payments.
ArcelorMittal’s French service centre division is undergoing a restructuring process, which may result in the closure of two service centres in the country. The Reims and Denain service centres, in northern France, are facing economic difficulties attributed to a downturn in the domestic steel sector.
ArcelorMittal Centres de Services management met with its service centre units last week to announce a project to reorganise the company and adapt its production capacities.
“In a difficult economic context, ArcelorMittal Centres de Services is facing a sharp drop in activity among its industry and automotive customers which has accelerated in recent months,” an ArcelorMittal spokesperson tells Kallanish (see Kallanish 22 November).
Natalia Capra France
Steelmakers should utilise all decarbonisation options: OECD webinar
Steelmakers are actively utilising all available options for decarbonisation, whilst balancing trade-offs in approaches and resource challenges, Kallanish heard from participants during a recent OECD webinar.
The organisation’s research shows there is disconnect between company ambition and implementation for decarbonisation, OECD head of steel decarbonisation Michele Rimini said during the “channelling market forces towards steel decarbonisation” webinar held by OECD at COP 29 last week.
But steelmaker panellists said they were seeking to balance the trade-offs they were facing between approaches.
Piljin Moon, carbon neutral strategy team lead at Posco, noted: “The major trade-off between the breakthrough technology and incremental steps in decarbonisation lies in the balance between risk and reward.”
“Although the breakthrough technology offers significant long-term gain and deeper CO2 reduction, it comes with higher risk and cost, [and] uncertainty in business feasibility. On the other hand, incremental steps are less risky, and more immediately applicable, but they may not achieve the substantial reduction for long-term climate goal,” he said.
“Since the development of the breakthrough technology doesn’t happen overnight, the company should adopt a dual approach, that means steelmakers should implement carbon strategy while simultaneously investing in initiative technology development,” he added.
Moon noted his company’s efforts to reduce CO2 emissions at its current facilities, whilst also constructing a new EAF and developing the hydrogen steelmaking process to replace coal.
Hiroyuki Tezuka, executive manager of Climate Change Policy Group at JFE Steel Corporation, echoed this sentiment, noting its similarities with Posco.
JFE is seeking to utilise hydrogen in the reduction process, and improve its blast furnaces for incremental CO2 reduction, whilst also utilising a new generation EAF to increase use of scrap.
“We cannot throw away any options, we [don’t have that] luxury,” Tezuka added.
Each decarbonisation option also has its own challenges amid limited availability of scrap, affordable and abundant hydrogen, and high-grade iron ore.
“Use of more scrap in company A means reduced scrap availability for company B,” Tezuka said.
“Another issue is the availability of high-grade iron ore, accounting for only around 10% of global iron ore supply capacity. Once everyone chases after this hydrogen DRI route, high-grade iron ore will be very scarce and a precious … material,” he added.
Tezuka also noted how his firm’s recent joint venture with United Arab Emirates-based Emirates Steel to build a hydrogen-ready DRI plant would allow it access to materials and value chains such as natural gas and hydrogen. These parts of the value chain are not currently available in Japan at affordable prices. This would allow it to keep its steelmaking and finishing facilities operating in Japan.
Both steelmakers noted the high costs of producing green steel, which would need to be passed onto customers.
“Decarbonisation requires a balanced approach … CO2 reduction doesn’t come for free,” Moon said.
Tezuka mulled how steelmakers could create a market for green steel and convince customers to pay more for their usual quality grades of steel made using a “very complex production process”.
Putting a value on transitional green steel would help steelmakers recover their initial emission reduction investments.
Carrie Bone UK
Metinvest moves ahead with new green steel facility in Italy
The project was intended to promote the industrial revitalization of the town, located on the shores of Tuscany.
The new green steel plant will be based around an electric-arc-furnace (EAF) and will have capacity for 2.7 million tonnes per year of hot-rolled coil. The total investment was expected to reach €2.5 billion ($2.63 billion), Metinvest said.
“The plant will leverage technologies based on EAFs and recycled materials, including scrap, pig iron and direct-reduced iron [DRI] sourced from Ukraine,” Metinvest said in a statement seen by Fastmarkets.
According to Metinvest, Italian export credit agency SACE and other leading financial institutions in the country have officially expressed interest in providing financial support for the project.
Italian government grants were also expected to support the project.
The Italian port management authorities also confirmed the project’s alignment with their development plans, Metinvest said.
The joint declaration builds on already-signed agreements between all key stakeholders in the new green steel project – the Tuscany Region, the Municipality of Piombino, Italian equipment supplier Danieli, and Metinvest Adria.
An initial Memorandum of Intent was announced in January 2024, and a Memorandum of Understanding was signed in April this year.
An additional Program Agreement was expected to be signed by the beginning of 2025, Fastmarkets understands. The document will define specific actions, including land remediation concessions, development contracts via Italy’s development agency Invitalia, employment protection measures, renewable energy initiatives, and improvements to the port infrastructure, Metinvest said.
“The project will help to strengthen the Italian steel industry and Ukraine’s mining operations, showcasing the potential of international cooperation in fostering sustainable industrial development,” Metinvest Group chief executive officer Yuriy Ryzhenkov said.
Complementing existing assets in Italy
The investment in the new green steel plant will also help Metinvest to complete the value chain of its metallurgical assets in Italy, and to reduce reliance on imported semi-finished products, Fastmarkets understands.
In Italy, Metinvest operates two rolling mills. Ferriera Valsider has two rolling lines for the production of heavy plate and hot-rolled coil. The heavy plate line has capacity for 400,000 tonnes per year while the HRC mill has capacity for 600,000 tpy. Trametal, meanwhile, is equipped with a heavy plate mill with capacity for 600,000 tpy.
Before Russia’s invasion of Ukraine in February 2022, Metinvest used to feed Italian rolling mills with steel slab from its Ukrainian assets, supplying around 100,000 tonnes per month to its Italian mills, a source familiar with the matter told Fastmarkets.
After acquiring slab from Ukrainian assets became impossible due to Russia’s invasion, Metinvest and other Italian re-rollers had to look for alternative slab sources, and found them mainly in Asia.
Metinvest has been exploring opportunities to buy its own steelmaking facility in Europe since 2022.
Metinvest gains property rights at Piombino
This week, another agreement related to the construction of the new green steel plant came to light. JSW Steel Italy, a subsidiary of India’s JSW Steel and a current owner of the Piombino site, signed a commercial agreement with Metinvest Adria regarding the transfer of rights over part of the property.
Metinvest will have to pay €30 million to JSW Steel Italy for the transaction, the Indian company announced to the National Stock Exchange of India.
JSW Steel acquired the Piombino site from Algeria’s Cevital in 2018. JSW Steel Italia operates three rolling mills in Piombino that make rail, wire rod and bar products, and which rely on billet and bloom shipments from its parent company.
JSW had several times announced plans to resume steelmaking in Piombino, but these were never implemented.
According to Fastmarkets’ sources, the Italian government was seeking an agreement with JSW to develop rail production at Piombino.
This was confirmed by the recent statement from JSW Steel, which said that in March 2024 a Memorandum of Understanding to this effect was signed between JSW Steel Italy and the Italian authorities.
The document outlined several areas of cooperation, which included the implementation of JSW’s rail mill modernization project, setting up a hardening facility, and increasing the length of the rails being produced to as much as 120 meters.
JSW Steel added that its cooperation with the Italian authorities was intended to achieve “the revival of the industrial site of Piombino as a steel hub.”
Steelmaking decarbonization gains pace in Europe
More than 50 million tonnes of new green steelmaking capacity – using just EAFs or a combination of EAFs and DRI – was expected to come online in Europe in the period 2025-30, Fastmarkets has estimated.
Italian steel producers have joined the race to achieve net-zero carbon emissions by 2025, in line with those goals.
For example, DRI Italia, a wholly owned subsidiary of state-owned development agency Invitalia, was to build a DRI facility at the Taranto steelworks at Puglia in southeast Italy, using state funds.
The company said that the 2 million tpy DRI module would become operational by 2026. EAFs at the Taranto site were scheduled be built by 2026 as well.
In 2022, EAF-based flat steel producer Arvedi revealed plans to invest about €227 million in the “green” transformation of its steel plants at Trieste and Cremona.
In 2023, the company launched its own green steel brand, Arvzero
Published by: Julia Bolotova, Darina Kahramanova
European HRC prices edge higher in quiet market
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €562.50 ($591.58) per tonne on Friday, up by €1.25 per tonne from €561.25 per tonne on November 21.
The index was stable week on week but up by €8.75 per tonne month on month.
Most suppliers in Northern Europe were offering coil for January-February delivery, with official offer prices consolidating around €600-620 per tonne ex-works, sources said, with bids coming in at €560-580 per tonne ex-works.
Market participants told Fastmarkets it hard to fix higher HRC prices in deals because of the persistently weak fundamentals, including deteriorating automotive demand and fierce competition between steel service centers with high inventories and cashflow needs.
And no major changes to the fundamentals or prices are expected until the end of the year, Fastmarkets understands.
Expectations for the first quarter of 2025 remain mixed, however.
Some sources said the recent toughening of trade defense measures – including a steel safeguard review and an anti-dumping investigation into HRC imports from Japan, Vietnam, India and Egypt – was likely to result in a stronger reliance on domestic supplies, which should support a recovery in domestic flat steel prices in Europe.
“The [HRC] market is still oversupplied, considering the fall in demand. It’s always about market balance,” a buyer in Germany said.
“The first quarter [of 2025] might be a bit early [for flat steel prices to recover],” he added, “but [later in the year] we will see better prices, in view of the decline in imports and reduced availability.”
At the same time, a real demand recovery was considered unlikely in the short term, so the chances of a strong price rebound were also low, sources said.
In Southern Europe, meanwhile, Fastmarkets calculated its steel hot-rolled coil index, domestic, exw Italy, at €559.58 per tonne on Friday, down by only €0.42 per tonne from €560.00 per tonne on Thursday.
The Italian index was up by €3.58 per tonne week on week and by €11.45 per tonne month on month.
The market in Italy was also mostly quiet, however, with prices broadly flat despite the subdued trading.
“Mills can get good prices [for HRC]. But at the same time, prices have been almost flat for nearly a month. [It is a] standstill situation,” a buyer source said.
HRC with lead times in the first quarter of 2025 was on offer from local suppliers at €600 per tonne delivered, which would net back to €590 per tonne ex-works.
Some sources said that one local mill still had limited tonnages of December-delivery coil available at €580 per tonne delivered – equivalent to €570 per tonne ex-works – but this could not be confirmed at the time of publication.
And buyer estimates of the tradable price for HRC in Italy were heard at €560-580 per tonne delivered (€550-570 per tonne ex-works).
In the week to Friday, few import offers were available to the European market, and the few that were around were not considered workable by local buyers due to the small gap to domestic prices and the risks related to tougher trade measures being introduced in the EU, sources told Fastmarkets.
HRC was on offer from Taiwan and South Korea at €600-605 per tonne CFR Italy, while HRC from Indonesia was on offer to Italy at €555 per tonne CFR and one Turkish mill was offering HRC to Italy at €590 per tonne CFR, including the anti-dumping duty.
Italian buyers, however, estimated the tradable price for imports during the week to Friday as no higher than €530 per tonne CFR.
Published by: Julia Bolotova
German steel production rises again in October
Crude steel output at German mills in October saw a considerable increase over the corresponding 2023 month, by 15%, to 3.22 million tonnes, according to steel federation WV Stahl.
Notably, year-on year increases occurred at oxygen converter-route mills, by 13%, and electric arc furnace mills, by 19%.
In September, performance between the two remained divergent, with EAF mills’ output up by 26%, while oxygen mills produced 4% less year-on-year.
October production also increased month-on-month, as September’s production was slightly below 3mt, Kallanish notes.
Still, WV Stahl warns that volumes remain altogether low, this year as well as last. EAF mills, especially, kept production down last year due to peaking power prices.
In the year so far including October, crude steel production totalled 31.58mt, which is 5% above the first ten months of 2023.
Christian Koehl Germany