9,312.13 TRY BIST 100 BIST 100
38.30 USD USD USD
5.28 CNY CNY CNY
43.56 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
99.70 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

Italian Danieli plans to expand its metallurgical division

Italian equipment manufacturer Danieli plans to increase the production of its metal division Acciaierie Bertoli Safau (ABS), which includes plants in Italy and Croatia.

Italian Danieli plans to expand its metallurgical division

In the business year 2022/2023 (July/June), the company produced around 1.2 million tonnes of steel. This is 10% less production than in the previous year. However, Danieli plans to invest EUR 650 million to increase its capacity to 2.3 million tonnes per year.

ABS commissioned new lines for wire rod and grinding ball production in 2022. The company also acquired Rott-Ferr, a scrap metal supplier with a turnover of around 100 thousand tonnes per year. New investments will be directed towards the acquisition of other scrap collection companies, the construction of electric arc furnaces and rolling lines.

As Danieli noted, the global steel market is in decline and this decline is expected to continue in the first quarter of 2024. India, Southeast Asian countries and the Middle East look better than others in this regard.

For the financial year 2023/2024, the company forecasts revenues at about the same level as in the previous financial year. Danieli is receiving plenty of orders for electric arc furnaces and related equipment as well as for digitalisation and automation. As Danieli notes, Western steel companies are investing heavily in reducing carbon emissions.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

UAE scrap and steel market seeks balance as saudi rebar prices hold steady

Friday, April 25, 2025

France seeks safeguards against imported Chinese steel

Friday, April 25, 2025

Sustainable transformation in the steel industry: Gemini Corporation's vision and actions

Friday, April 25, 2025

Leaders of the Steel World Meet at Steel Summit 2025

Friday, April 25, 2025

Tuğba Çimenci: EU's Steel Plan creates both pressure and opportunity for the Turkish industry

Friday, April 25, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now