ITALY DATA: October crude steel output falls 9.3% on year

Italian crude steel production in October fell 9.3% year on year to 2.014 million mt, the sixth consecutive month of year-on-year falls, according to data from Italian steel federation Federacciai released Nov. 21.

However, the volume was up 7.5% month on month and at a five-month high, the data showed.

Of the October volume, 1.103 million mt was long products, down 14.2% year on year and slipping 5.2% from September.

Flat production for the month also dropped 22% year on year to 821,000 mt, although this was up 14.3% from September to a five-month high.

For the January-October period, Italy, which is Europe’s second-largest steel producer after Germany, produced 18.48 million mt of crude steel, dropping 10.9% year on year, due to summer closures caused by maintenance works, low demand and high energy prices.

Long product output for the 10-month period was also down 11.7% year on year at 10.24 million mt, while flat product output slipped 11.8% to 8.16 million mt.

A number of European steelmakers are still not working at full capacity, as energy prices remain high, combined with high stocks and low demand.

Domestic prices for HRC have been declining in Europe since the second half of March due to weak demand.

Platts, part of S&P Global Commodity Insights, assessed daily HRC in Italy at Eur580/mt ($593.94/mt) ex-works Nov. 18, down 30.6% since the start of 2022.

— Jacqueline Holman