During October the global scrap market achieved a better balance between supply and demand, while quotations halted their downtrend and started to show some upticks.
In the first 10 days of November, good levels of demand for scrap have been observed from steelmakers in general, and this has generated an uptrend in scrap prices in the international markets, especially for high quality scrap (i.e., busheling and high grade shredded).
In the near future, strong scrap buying activity is expected from Italian mills, as they seek to replenish their scrap yards before the end of the year.
In the eurozone, scrap prices are generally rising, and the market uptrend will likely continue in the second half of November.
Meanwhile, 21,292 metric tons of pig iron and 5,514 metric tons of scrap arrived at the Italian port of Marghera in September.