Arvedi, Italy’s largest flat steel producer, has restarted production at its mill in Cremona, northern Italy, after previously suspending output amid high raw materials costs and low demand, an executive close to the company told S&P Global Commodity Sept 26.
On Sept. 22, Arvedi restarted one electric arc furnace and and the other on Sept. 23, while one of its EAFs in Terni was still in a planned outage.
Arvedi’s two electric arc furnaces have capacities of 1.4 million mt/year of crude steel 2.6 million mt/year.
According to sources, it was not clear yet what Arvedi was planning to do in Cremona in October with the company still pondering the market but hoping to continue production.
A spokesperson declined to comment on output from Cremona’s EAFs but confirmed that one of the two EAFs at its plant in Terni was still not in operation.
The two EAFs in Terni have a combined capacity of around 1.1 million mt/year.
Steelmakers across Europe are cutting production to sustain prices in moves that steel end users hope will continue to rebalance demand and re-stabilize margins.
Platts assessed hot-rolled coil in southern Europe stable on day at Eur750/mt ($724/mt) ex-works Italy Sept. 23. The assessment was based on offers and achievable prices heard at Eur740-780/mt ex-works Italy.
— Annalisa Villa, Maria Tanatar