The current month of May started with significant demand for scrap across Italy, while scrap stocks are at low levels in traders' scrap yards, as reported by Assofermet, the Italian association of traders of iron, steel, non-ferrous metals, ferrous scrap, hardware and similar goods.
Meanwhile, scrap quotations for all categories are expected to stay high for the whole month of May amid low supply and strong demand. Negotiations between suppliers and buyers are likely to remain difficult.
In the European markets, the situation is similarly characterized by tight supply and by tension between suppliers and customers. Inquiries from non-EU countries are still attracting interest, as the euro-dollar exchange rate allows Italian scrap traders to make good deals on the export side.
Finally, in the month of April, about 55,500 mt of pig iron were imported via Port Marghera, Venice, while no scrap cargos arrived.