NEWSBREAK: Italy’s Marcegaglia seeks $22-33 price rise on sections, flat steel

Italian re-roller Marcegaglia has announced a price increase of €20-30 per tonne to its hollow sections, coil and plate product, effective immediately, the company told Fastmarkets at the Made in Steel trade fair in Milan, Italy on Tuesday May 14.

Although market sources have not confirmed the price increase, some market participants said they believed that more steelmakers will attempt to raise offers and that Marcegaglia’s move is logical.
This comes at a time when the domestic price of hot-rolled coil - the feedstock of hollow sections - in Europe has been decreasing over the past couple of months due to poor demand.

“Mills need to increase prices unanimously in Europe. This most likely will not result in immediate price rise, but will...

Published

Maria Tanatar

Carrie Bone

May 14, 2019

17:34 GMT

Milan