Italian crude steel production declined for a fourth consecutive month in May, falling 3.5% to 1.9 million mt, according to data released by Italian steel producers’ association Federacciai.
Production was weighed down by weak demand as well as low output at the country’s second-largest domestic steel producer, ADI.
In the first five months of the year, crude steel production fell 5.5% to 9 million mt.
Flat steel production saw the heaviest decline in May, falling 7.5% to 765,000 mt. Over the first five months of the year, flat steel production fell 9.3% to 3.76 million mt.
ADI has been operating at its lowest-ever rate since February, with the new management working to increase production.
Long steel production in May dropped 1.8% to 1.18 million mt, reflecting a weak construction industry, with January-May output falling 1% to 5.30 million mt.
Italian HRC prices dropped to Eur629/mt ex-works Italy by May 1 from Eur685/mt base ex-works at the beginning of January, according to assessments by Platts, part of S&P Global Commodity Insights. In May prices moved sideways and stabilized. They were last assessed at Eur620/mt base ex-works on June 17.
In April domestic hot-rolled coil prices fell to their lowest level since the beginning of the year at Eur620/mt base ex-works.
Meanwhile, Federacciai members last week confirmed Antonio Gozzi as the association’s president for the two-year period 2024-2026.
Gozzi will be supported in his role by vice presidents Antonio Beltrame, Mario Caldonazzo, Michele Della Briotta, Giuseppe Lucchini, Federico Pittini and Claudio Riva.