Italy based Feralpi Group's announced that its steel production in the first eight months of 2021 returned to pre Covid levels, even exceeding the volumes of the same period of 2019. Its steel production grew by 7% compared to January-August 2019, amounting to 1.73 million tonnes. In the first half of this year, the group's revenues reached EUR 879 million, recording an increase of 65.9 percent compared to the first six months of 2020. These results were driven by the increase in both volumes and prices amid government incentives in the construction and automotive sectors. Feralpi Group’s Chairman Mr Giuseppe Pasini said “The first eight-nine months of this year have been brilliant for the entire steel supply chain. However, now we see some shadows ahead, mainly due to the escalation of electricity and gas prices. This is a problem not only for Italy but in all of Europe.”Feralpi does not rule out possible production interruptions at the most critical moments. Actually, some stoppages are already occurring, also due to the recent slowdown of the domestic finished product market, Pasini indicated.However, Feralpi will invest around EUR 100 million within the next five years to produce renewable energy. The goal is to reach an installed power capacity of over 100 megawatts for its own consumption, in order to cover 20 percent of the energy needs of the companies of the group in Italy. Feralpi Group aims to reduce C02 emissions by approximately 85,000 tons per year once the project is completed. The investment will also have a positive economic impact thanks to a competitive cost of electricity compared to market values.