Italian crude steel production down 3.5% in May

In the first five months of the year, Italy's crude steel production fell 5.5% to 9 million metric tons. Flat steel production fell 7.5% to 765,000 metric tons in May and dropped 9.3% to 3.76 million metric tons in the first five months of the year.

ADI recorded its lowest production levels since February despite efforts by the new administration to boost output. Long steel production fell 1.8% to 1.18 million metric tons in May, and decreased 1% to 5.30 million metric tons in the January-May period.

As for hot rolled coil prices, SteelRadar assessed them at Euro 635/mt ex-works as of June 17, down from Euro 685/mt ex-works in early January. Prices stabilized in May, following a flat trend.

Finally, Federacciai members confirmed last week that Antonio Gozzi will be the association's president for a two-year term from 2024-2026. Gozzi will be supported by vice presidents Antonio Beltrame, Mario Caldonazzo, Michele Della Briotta, Giuseppe Lucchini, Federico Pittini and Claudio Riva.