Italy - Eredi Gnutti Metalli sees recovery in brass rod but not in rolled products - 1 views
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Susanna Keung on 23 Dec 10Italian fabricator, Eredi Gnutti Metalli, said in an interview with Reuters that it foresees a slight recovery in brass rod output and further decline in rolled products for the construction sector, which has remained weak. The company plans to produce 110,000 tonnes of brass rod in the current fiscal year (2010/11), compared to 100,000 tonnes a year ago. So far its orders have been driven by restocking activity and it expects industrial demand to return to pre-crisis levels in 3 to 4 years without major shocks in the economy. The company's copper cathode purchase has been cut by 25% from pre-crisis level to around 12,000 tonnes to 14,000 tonnes a year.