Italian steelmaker Arvedi's Cremona plant is still idle after a fire which occurred on November 2, which was the third accident to happen at the plant within a one-month period. The accident occurred after operations to relight the plant's blast furnace No. 2 were carried out. The company said that work to enable the gradual restoration of operations at the blast furnace have already begun.
In the coming days, the furnace No. 1 will also resume operations gradually, allowing the full resumption of hot rolled coil (HRC)
production at the plant.
Meanwhile, the accidents at Arvedi have had an impact on the Italian scrap market in the past month. The halt of
production at the plant has caused a reduction in scrap consumption, reinforcing the downtrend of scrap prices in the local market.