Italy-based Pittini Group halted production and rolling activities in its plants in Osoppo (Udine), Potenza and Verona on February 25, and, while it restarted its furnaces on February 28, it should resume rolling activities tomorrow or within two days, SteelOrbis has learned from a source inside the company. The decision to temporarily halt activities was due to the uncertain situation owing to the surge in energy costs, exacerbated by Russia's invasion of Ukraine.
The group, which produces long steels serving the international market, is now aiming to increase prices in the coming days, and other Italian producers are expected to follow suit. Rebar base prices in Italy were mostly at €530-550/mt (€790-810/mt ex-works for 14-26 mm material) last week, while they could increase by €50-100/mt, according to sources.
Previously, ArcelorMittal Europe had raised its long steel prices by €60/mt in February because of higher production costs, in particular energy prices. This price increase was for rebar, wire rod and beams. Further price hikes are expected across Europe.