European long steelmaker Beltrame Group has received all certifications and technical approvals required to sell rebars from its newly acquired Donalam SBQ rolling mill in Targoviste, Romania, and has announced price levels, Beltrame CEO for Romania and France Carlo Beltrame told S&P Global Commodity Insights Sept. 20.
Beltrame estimated the sale price of the rebar at Eur900-940/mt ($899-939/mt) ex-works Romania, taking into account the current economic context.
“We have decided on this price range in particular after having taken into account the current electricity and gas prices,” Beltrame said.
Beltrame acquired the Targoviste plant in March with the aim of resuming local production of rebar steel.
The company also launched an investment plan to modernize the steel plant, which produces hot rolled steel bars and special steels for use in the construction sector.
Beltrame told S&P Global that the company had revamped rolling mills No. 1 and No. 2, which had restarted production in June and August, respectively, allowing it to produce around 40,000 mt of rebars by October.
The electric arc furnace was supposed to restart production by October, but this has been delayed to March or April 2023 due to high energy costs, Beltrame said, adding that the company was using billets shipped from the company’s other sites.
The new mill’s emissions are expected to be below the 50 kg CO2/mt limit, Beltrame said.
In July, the company pledged to invest around Eur300 million to build a 600,000 mt/year greenfield steel plant in Romania and a 100 MW solar farm.
The company’s board has yet to give the new investments the green light, which is expected by the end of September, Beltrame said.
Platts assessed TSI Northwest Europe rebars at Eur975/mt ex-works Sept. 16, up from Eur790/mt ex-works at the start of the year, but down from the intra-year high of Eur1340/mt ex-works on March 30, according to S&P Global data.
— Annalisa Villa