Federation of Aluminium Consumers in Europe (Face) has appealed the Italian government to recognise the strategic value of the aluminium industry and sought government support in the form of credit insurance, liquidity, financing for investment projects, tax incentives and subsidised loans for the sector.
Face in a statement released on Friday stated that it is essential to recognise the key role of the entire aluminium value chain in the production system. The COVID-19 outbreak has impacted many sectors like foundries and companies working in aluminium surface treatments. In March, their production dropped by 50pc. These losses could rise significantly after many aluminium companies shut adhering to the Italian government’s orders issued on March 22, which excludes metallurgy from the list of essential activities.
Gauging the impact of the COVID-19 on the industry, the federation states aluminium consumption in Italy could reach 1.6-1.7mn mt in 2020, taking the aluminium sector a decade back. Italy has over 1,000 companies in the virus-affected areas like Lombardy, Piedmont and Emilia-Romagna with a turnover of over EUR12bn. The Italian aluminium industry plays an important role even in the European manufacturing sector.