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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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March 2015 | Galvanized Steel and Tinplate Market Tracker


Plan to restructure Ilva receives backing of Italian parliament: European Market Highlights


Arguments over revenues versus long-term profitability can be easily highlighted by the continued weakness of European coated steel prices this month.

Having had until March 9th to complete the legislative process to set Ilva back onto sounder footing, Italy’s government was being closely watched by Europe’s galvanized steel industry this month. As we have detailed previously, events at Ilva still have a wide impact on the region’s coated steel markets given its size, and thus the industry will have been thankful at least for some clarity over the past few weeks.

That clarity came on March 3rd, when the majority of the Italian parliament voted in favour of converting the ‘Taranto decree’ into law. As previously planned, therefore, Ilva will now be placed under special administration, allowing for an effective nationalization/placement of Ilva into bankruptcy protection through the transfer of its assets and personnel into a new company set up by the government.

This new company will manage the environmental cleanup of...

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