Fire halts Marcegaglia CR line for ‘a few weeks’
Italian re-roller Marcegaglia plans to resume cold-rolling production at its Ravenna plant within a few weeks following a fire at the plant, a company spokesperson told McCloskey on 3 November.
Market participants reported that the fire occurred at the end of October.
“The fire, which affected one of the three cold rolling mills at the Ravenna plant, was promptly extinguished and did not involve any people. A recovery plan to restore the plant’s operations was immediately activated and is expected to be completed within a few weeks,” Marcegaglia’s spokesperson said. “Industrial and commercial agreements were also promptly activated to minimize the impact on deliveries, including in the short term.”
Italian buyers expressed concerns that the incident would reduce supply and push cold-rolled coil (CRC) prices higher.
McCloskey’s weekly marker for domestic CRC prices increased by EUR15/t week on week and EUR30/t month on month to EUR695/t ex-works Northwest Europe on 31 October.
The introduction of the carbon border adjustment mechanism (CBAM) from January 2026 has already pushed imported coil prices higher. At the same time, proposed tougher import quotas, which are expected to come into force in the first half of next year, have resulted in a reduction of offered volumes of overseas CRC.
As a result, European buyers are increasingly reliant on domestic supply. European steelmakers, however, have been reluctant to sell CRC, favouring either higher added value products such as hot-dipped galvanized coil (HDG) or less costly upstream products like hot-rolled coil (HRC).
Even a minor reduction of CRC availability could have a noticeable impact on the market, sources said.
