Stable low demand and complex dynamics were recorded in November
The Italian and European steel markets in December of this year demonstrate a scenario of significant uncertainty. This is stated in the monthly market report of the Assofermet Association, which represents Italian distributors of scrap, raw materials and steel products, SteelOrbis reports.
In November, there was consistently low demand and difficult dynamics in both the mining and processing industries.
In particular, European flat products mills continued to insist on raising prices despite stagnant demand and weakening end-use sectors. The lack of support from consumers left the market in a precarious balance. Manufacturers, concerned about negative margins, have announced possible production cuts, while service centers are forced to adjust price lists to balance their accounts in the first quarter of 2025.
This situation is creating tension among industry players, who are approaching the beginning of 2025 with doubt. The price level for the next year has not yet been finalized, as buyers are in no hurry given the low demand for basic materials.
As reported earlier, the global hot-rolled coil market was in a state of uncertainty in November this year. Despite a slight increase in prices in some regions, low demand and economic instability restrained activity. Producers are facing difficulties due to weak consumption in key sectors, excess inventories and competition from imported suppliers.
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