In an article entitled ‘Steel targets a recovery', the Italian financial newspaper Il Sole 24 Ore described the Italian steel industry as gaining momentum and forecast medium-term developments for the local steel sector. Accordingly, the satisfying performances witnessed in Q1 this year will lead to a full return to 2008 output levels - provided performance levels are maintained up to the end of the year.
For the article, the newspaper interviewed Giuseppe Pasini, president of Italian steelmakers association Federacciai, who said, "In the first three months of the current year, Italian crude steel output increased by eight percent year on year, more than the European average of 6.9 percent." January in particular stood out with a 10.5 percent output growth. Meanwhile, Mr. Pasini underlined the difference in the situations as regards long steel products and flat steel products, stating, "Long steel producers still face lackluster demand from the construction industry, although they have increased production by 5.7 percent... On the other hand, the recovery of the special steels sector has picked up speed, but the real engine of domestic steel output growth is flat rolled production, which soared by 26 percent year on year mainly thanks to demand from the automotive industry."
Accordingly, the Italian steelmaking industry seems to be targeting the 30 million mt of crude steel produced in 2008, despite uncertainties about energy issues and the volatility of raw material prices.
Also, Antonio Marcegaglia of Italian steel processing group Marcegaglia stated, "In the first four months, financial performances were positive, as showed by the 42 percent increase in the sales revenues of the group's companies, by the increased profit margins and by the growth in export volumes."