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Duferdofin-Nucor hikes section prices €40/tonne - 7 December 2011

Italian steelmaker Duferdofin-Nucor is increasing base prices for all its products from 12 December, a company representative tells Steel Business Briefing.

The increase will be €40/tonne, taking its category 1 section prices to €640-660/tonne ($856-883/t) delivered in Europe and €660-680/t ex-works in Italy.

“We have decided to increase prices taking into consideration the high production costs, further to the new natural gas and electricity tariffs,” the representative says. Stoppages at mills and increasing scrap costs are also a factor, he adds: the company’s plant in Pallanzeno will stop for three weeks over the holidays, with its Giammoro and San Zeno plants down for five and four weeks respectively.

However, real demand is very low and the European financial situation is “very confused,” he admits. “If needed we will continue to reduce our output in order to meet demand at the right price,” the spokesperson concludes.

Other European sections producers, such as Salzgitter and ArcelorMittal, have also recently announced increases, SBB notes.

 

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