From Market Volatility to New Services: Morandi Steel’s Strategy

Nicola Zamboni, Sales Director: “The market remains uncertain, but services and innovation make the difference”

The steel tube market continues to be marked by a climate of strong caution. International geopolitical tensions, uncertainties linked to global trade and the effects of new European regulations are influencing prices, supply dynamics and the outlook for the supply chain. At the same time, however, there are still positive signals: some sectors continue to show momentum, while the most structured companies are investing in expanding services and innovating their offering.

In this context, Nicola Zamboni, Sales Director of Morandi Spa, discusses market performance, expectations for the coming months and the innovations the company will present at the next edition of Made in Steel, scheduled for May 2027 at Fiera Milano Rho.

How did 2025 close and how did the market perform in the first quarter of the year?

“2025 closed positively for our company, with more than 10,000 tons sold and results improving compared to 2024. It was a complex year in many respects, but we managed to consolidate the work carried out over the last few years, strengthening our market presence and further expanding our customer portfolio. The first quarter of 2026, on the other hand, confirmed a rather weak market scenario in terms of demand. In general, there is a sense of caution in purchasing decisions and limited visibility over the medium term. Despite this context, thanks to important orders secured between the end of 2025 and the first months of 2026, we managed to achieve the ambitious budget we had set ourselves, recording 20% growth compared to the previous year. This result demonstrates how essential it is today to diversify markets, maintain a strong commercial focus and ensure fast response times for customers.”

What consequences is the new conflict in the Gulf having on the tube sector? What trends do you expect in the coming quarters? What impact will CBAM and the new trade protection measures have on the market?

“The new conflict in the Gulf is already having concrete effects on our supply chain. The main critical issues concern delivery times, which are becoming longer and less predictable, especially for certain types of material. At the same time, we are witnessing rising prices driven both by international tensions and by increasing logistics and energy costs. What is particularly striking is that these price increases are taking place in a context where demand remains relatively flat. This makes the market even more difficult to interpret and manage. CBAM and the new safeguard measures introduced by Europe are also beginning to have a significant impact. The effects are visible both in prices and in the availability of raw materials. For many companies, this means rethinking procurement strategies, planning purchases further in advance and paying even closer attention to inventory management. In the coming quarters, we therefore expect a market still characterized by strong volatility and a high level of uncertainty.”

In this scenario, which sectors and market niches are the most interesting?

“Despite the general slowdown, there are still some sectors offering interesting opportunities. We can still feel the positive effects of the latest projects linked to the PNRR, many of which are nearing completion but continue to generate demand and business opportunities for the supply chain. At the same time, we are seeing very significant growth in the photovoltaic and agrivoltaic sectors, both of which are expanding rapidly thanks to investments in the energy transition. These are markets that increasingly require not only products, but also service, customization capabilities and fast processing times. This is why we believe that investing in expanding our offering and in value-added services is now a key strategic factor.”

What is the sentiment in the European and international markets based on your discussions with customers and suppliers?

“The sentiment we gather from discussions with European and international customers and suppliers is mainly characterized by caution and uncertainty. Demand remains weak in many markets, and the current geopolitical situation makes it extremely difficult to make reliable forecasts for the coming months. Companies are operating with increasingly shorter time horizons, and this inevitably affects both purchasing decisions and investments. In general, there is a sense of waiting: many market players are trying to understand how international conflicts, European trade policies and the global economic framework will evolve before making more structured decisions.”

The next edition of Made in Steel is approaching: what do you expect in light of the recently announced innovations?

“Made in Steel has always been a strategic event for our sector, and this edition will once again represent an important opportunity to meet customers, suppliers and partners. For us, it will above all be the ideal moment to present the innovations introduced in recent months and to showcase the evolution of our offering. In particular, we will present our new surface treatments — from sandblasting and galvanizing to painting — as well as assembled and welded semi-finished products. Among the most significant innovations will also be the introduction of open profiles, further expanding the range of solutions we can offer to the market. Our goal is to increasingly position ourselves as a complete partner, capable not only of supplying material, but also of providing integrated processing and services able to meet customers’ specific needs.”

In a context still heavily influenced by geopolitical uncertainty and weak demand, the tube sector therefore continues to move between caution and the need to adapt. For companies such as Morandi Spa, the ability to expand their offering, invest in services and focus on the most dynamic market segments is now a decisive factor in addressing the challenges of the coming months.

The upcoming edition of Made in Steel will therefore also represent an opportunity to take stock of the evolution of the steel supply chain and the market’s new requirements, in a scenario that increasingly demands flexibility, strategic vision and responsiveness.