ILVA AUTHORIZED BY A TARANTO JUDGE TO RESTART SMELTING FACILITIES

Last Monday June, 3th, a judge of Taranto Court has authorized Ilva to re-start production in their smelting facilities.

A decree form the Italian Goverment is expected for tomorrow regulating the re-start of Ilva smelting facilities and the supervision of the clean-up programme. 

Thousands of jobs will be secured. Ilva production amounts for 40% of Italian steel consumption.

New steel will arrive to the very poor European consumption scenario at the same moment that China Steel Production is at a rate of 2,19 MTm per day. The historical maximum.  

Too much steel for a poor economic situation. This confirm our previous forecast and will put additional pressures on prices.