Italian stainless steel coils maker Acciai Speciali Terni, part of Arvedi, is to implement a longer production stoppage this year for the Christmas holiday break, the company confirms.
The hot end area will be idle from 19 December until 7 January.
“The stoppage is a consequence of the contraction of the steel market in general and the high cost of energy that AST is forced to pay compared to its competitors,” a company spokesperson tells Kallanish. The steelmaker has already idled production for three days from 28 November to 1 December due to the contraction in orders that is affecting the European market, following better demand in September and October.
Economic uncertainty and slow orders are hitting Italian stainless steel margins and volumes. Demand continues to be sluggish but processing costs are simultaneously increasing, local steel trade association Assofermet has warned last month. The sector is experiencing the worst margin contraction in 2023, which has become worse over the past 90 days (see Kallanish passim).
Natalia Capra France