The Italian company Beltrame has made the decision to indefinitely cease production of long products in France and Switzerland. This choice is a response to the challenging state of the European steel market, characterized by unstable prices, rising production costs, and declining demand.
European market representatives have indicated that the long product market is contracting in both Italy and France. Despite the low occupancy rate in warehouses for this product, consumers are resorting to compensatory letters of credit as a means of reaching compromises. This practice has been one of the primary causes for the decrease in prices.
Beltrame warned that it will continue to close production lines in Europe under these operating conditions to avoid oversupply.
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