In an interview with the Italian financial newspaper Il Sole 24 Ore, Giovanni Arvedi, president of Cremona, Italy-based steelmaker Arvedi, gave his forecast for the global and Italian steel markets.
Mr. Arvedi stated, "The current year looks better than the last one, while market analysts figure that in 2012 global steel demand will exceed overall output. In this context, market prices are likely to follow a stable uptrend." However, he went on to add, "This is only partially true for Italy, as the local economy still has difficulty in regaining the 2008 levels."