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It appears that late 2022 and early 2023 are filled with economic uncertainty about rising costs power and inflationaccording to the participants in the regional meeting of the Association of European Steel Distributors Eurometal Held in Milan, Italy.
The concerns of the producers
Participants said major manufacturers and distributors are experiencing a contraction profit margins Due to the higher costs of standard raw materials and higher stocks, which can be up to 4 months.
Participants added that the production cuts already made by some steel producers Not enough yet, further cuts are needed to increase sales, make the sector profitable and maintain prices steel who suffered from highs energy costs Decreased demand combined with increased inventories.
The president of Assofermet Acciai Flat, Paulo Sangui, said that his company recorded a profit of 10% less in the January-August period compared to a year ago, when a slowdown begins. the request Significantly increased in June, the second quarter and third quarter by 15 percent year on year.
order in July
The Chairman of the Board of Directors of the Gabrielli Group, one of the major independent service centers in ItalyIn his presentation, Andrea Gabrielli said that July, which is usually a good month every year, had one of the weakest demands in history.
Sanjoy added: "The main concern for the new year is that we will see the impact of rising costs on citizens who will not have enough money to buy goods".
For his part, ArcelorMittal CLN Distribuzione Italia CEO Cesar Vigano said during a panel discussion that the need for further cuts was necessary, but that these profit margin cuts should have been made sooner, to drive sales. which have decreased significantly.
profit reduction
Participants were particularly surprised by the lack of profit margin cuts in the North EuropePrices are lower than in Italy since the beginning of September.
The price of one ton of hot-rolled iron in countries Northwestern Europe € 745, while valued in the countries South Europe At 760 euros per ton as in Italy, down by 19.2 percent and 9.1 percent respectively from the beginning of 2022.
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It appears that late 2022 and early 2023 are filled with economic uncertainty about rising costs power and inflationaccording to the participants in the regional meeting of the Association of European Steel Distributors Eurometal Held in Milan, Italy.
The concerns of the producers
Participants said major manufacturers and distributors are experiencing a contraction profit margins Due to the higher costs of standard raw materials and higher stocks, which can be up to 4 months.
Participants added that the production cuts already made by some steel producers Not enough yet, further cuts are needed to increase sales, make the sector profitable and maintain prices steel who suffered from highs energy costs Decreased demand combined with increased inventories.
The president of Assofermet Acciai Flat, Paulo Sangui, said that his company recorded a profit of 10% less in the January-August period compared to a year ago, when a slowdown begins. the request Significantly in June, the second quarter and third quarter, up 15% year on year.
order in July
The Chairman of the Board of Directors of the Gabrielli Group, one of the major independent service centers in ItalyIn his presentation, Andrea Gabrielli said that July, which is usually a good month every year, had one of the weakest demands in history.
“The main concern in the new year is that we will see the impact of higher costs on citizens who do not have enough money to buy goods,” Sangui added.
For his part, ArcelorMittal CLN Distribuzione Italia CEO Cesar Vigano said during a panel discussion that the need for further cuts was necessary, but that these profit margin cuts should have been made sooner, to drive sales. which have decreased significantly.
profit reduction
Participants were particularly surprised by the lack of profit margin cuts in the North EuropePrices are lower than in Italy since the beginning of September.
The price of one ton of hot-rolled iron in countries Northwestern Europe € 745, while valued in the countries South Europe At 760 euros per ton as in Italy, down by 19.2 percent and 9.1 percent respectively from the beginning of 2022.
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