The Italian steel scrap market in April was characterized by good demand and moderate stability, with some slight downward corrections of upper-end price levels in order to align local prices with international offers - thus reports Assofermet, the Italian association of traders of iron, steel, non-ferrous metals, ferrous scrap, hardware and similar goods.
In early May, scrap demand from special steel producers was good; furthermore, there have been signs of increased long steel production in Italy. This should provide support for local scrap prices, which have been at high levels since the beginning of the year. Meanwhile, shortages of prime quality scrap continue to be seen.
In the import market, EU countries are asking for higher prices, in view of good demand from northern to southern Europe. Also, the Turkish market has resumed its purchases, with price increases across the supply chain due to the fluctuation of the US dollar.
Meanwhile, about 138,000 mt of pig iron arrived at Port Marghera, Venice in the month of April.