Marcegaglia increases stainless tube prices on high costs
Italian re-roller Marcegaglia is updating its stainless steel welded tube price list, in line with hiking processing costs and increasing prices of coil, Kallanish learns from the company.
The new price list will be effective this week and will involve stainless tube across the entire product range, including decoration and laser. Prices will increase by some €200-300/tonne ($198-297) depending on product thickness and dimension.
Prices of European hot and cold rolled stainless steel coil are increasing due to skyrocketing production costs in Europe. Re-rollers are curbing production to balance demand and supply. Demand for coil derivatives in Italy is also heavily reduced due to the economic crisis.
This week in Italy and France, most re-rollers and mills are implementing production stoppages to coincide with the 1 November public holiday and 31 October bridge holiday. Most players started the production stoppages on Friday and will resume later this week, Kallanish notes.
Marcegaglia is acquiring Outokumpu’s Long Products division for €228 million. The transaction, which represents Marcegaglia’s first foray into steelmaking, should be completed by the end of the year (see Kallanish passim).
Natalia Capra France