Battaini talks with The New York Times. Prysmian soars, EU eyes tariffs - Jul 14, 2025

Today’s news cycle is largely dominated by positive developments for Prysmian. In an interview with The New York Times, CEO Massimo Battaini discussed submarine cables, noting that the company is effectively sold out through 2028, with orders surging to around 17 billion euros. This underscores a major shift in the industry, driven by the growing demand for undersea power cables. In another significant update for Prysmian, Barclays has raised its target price for the company to 102 euros, up from 82 euros, citing robust growth projections in the high-voltage cable sector - which was also outlined in the New York Times article. Analysts estimate an average annual growth rate of 16% from 2020 to 2030, positioning Prysmian favorably amid a demand surge that is dramatically outpacing supply. On the trade front, the European Union and South Korea are actively pursuing trade deals with the U.S. to mitigate the effects of impending 30% tariffs on imports, as announced by President Trump. The EU has expressed frustration over the lack of progress in negotiations, warning of potential countermeasures should an agreement not be reached by the upcoming deadline. Turning to the markets, there is a notable imbalance as demand for submarine cables continues to grow while supply chains are strained. Alcoa is also experiencing challenges, facing delays in the restart of its Spanish aluminium smelter, which may lead to significant financial losses. In the broader international context, recent developments in Ukraine see the U.S. committing to send Patriot missiles in response to ongoing conflicts, indicating a continuation of heightened military support. This situation underscores the geopolitical ramifications of shifting global trade dynamics and military engagements.