In the Italian steel sector, after three positive quarters, both in terms of handled quantities and price stability (at very high levels), the fourth quarter opened with some signs of a slowdown in production, thereby resulting in reduced raw material purchases, according to Assofermet, the Italian association of traders of iron, steel, non-ferrous metals, ferrous scrap, hardware and similar goods
Italian mills' stocks of pig iron remain low on average, in favor of alternative materials sought from various domestic and global sources. Italian foundries' pig iron stocks are now in a better situation compared to some time ago, as pre-summer purchases of raw material are now sufficient for a slightly longer period of production, compared to previous expectations for consumption.
Italy, like Europe, is influenced by a global market which is less aggressive and where the US and Turkey have stalled somewhat, while China seems to have slowed down, especially in the area of raw materials. The waiting for the return of Turkey to resume purchases after Ramadan has not exactly paid off. Ukrainian pig iron producers have therefore corrected their offers downward, followed partially by the Russians, who have been more cautious. However, other corrections are expected in the coming weeks.
Speaking of common ferroalloys, the situation seen before the summer holidays has been confirmed. There is good availability of these ferroalloys, with abundance seen sometimes - as in the case of ferrochrome - which leads to slight price reductions. In general, the market is witnessing limited - though consistent - purchasing activity, and a slightly downward price tendency.
As regards ferromolybdenum and ferrovanadium, the situation is the same, though with fewer purchases, and downward price movement based on good availability of material.