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Fabio Riva, from Italy's largest steelmaker Riva Group, has said that the Italian steel industry stands in a unique position among other European steel industries due to its complicated structure shaped by heavy bureaucracy and lack of definite regulation, in his interview with Italian newspaper Il Sole 24 Ore. Mr. Riva also underlined the disadvantage of higher energy costs in Italy, which creates a heavy burden for the Italian industry in which 60 percent of the steel production is based on the electric arc furnaces.
 
Asked whether the Italian steel producers' association Federacciai or the federation of Italian foundries Assofond should get involved in drawing up a proper industrial policy by the European Union, Mr. Riva stated that the European bodies have not had enough consideration for the steel sector so far and now they have to take action and must clarify their future actions.
 
Commenting on the market situation in Riva Group's key markets, Mr. Riva said that the East European and North African markets, which remain niche markets for the Riva Group, have no need to recover, but it is the European economy which needs to recover. "It will take three to four years before the EU financial situation will return to the pre-crisis level," he added.
 
Finally, assessing the situation in the raw material markets, Mr. Riva said that in March and April this year demand for steel has recovered, thanks to some restocking activities of local traders and end-users; however, the recovery started to lose its momentum in May. In this context, despite the increase in raw material prices, Riva stressed that real consumption has not seen a corresponding rise.