According to Assofermet, the association representing Italian companies active in the trading, distribution and processing of steel, scrap and nonferrous metals, in its usual monthly market note, the Italian ferrous scrap market moved through two distinct phases in April. After an initial period marked by broadly stable prices, supported by regular demand from steelmakers, the market showed signs of recovery in the final part of the month, with increases of around €10/mt. The shift was mainly driven by pressure from international markets, particularly Turkey, and by stronger production activity towards the end of the month. At the beginning of May, market sentiment appears oriented towards a consolidation of the upward trend, supported by limited availability of ready material at yards and by a more positive trend in finished steel sales. However, the overall picture remains cautious: some steelmakers are already covered until mid-month and could maintain reduced production schedules, while energy costs continue to represent a source of uncertainty.
On the international front, the Turkish scrap market recorded an increase of around $10/mt in April, while price rises in Europe were more pronounced, at around €15/mt. In Spain, demand remained stable, although volumes were limited. In Asia, Pakistan followed the Turkish upward trend more closely, while India recorded lower price levels, penalized by weaker demand and by greater use of more competitive alternative raw materials such as sponge iron.
In the stainless steel scrap segment, April confirmed a sideways price trend. Quotations remained stable despite the strengthening of nickel prices on the LME, partly due to steelmakers’ greater reliance on slab purchases, which reduced their stainless scrap requirements. Material availability remains limited, while exchange rate volatility continued to affect trading activity. In specialist segments, high-speed steels confirmed demand concentrated on higher-grade qualities, while superalloys remained penalized by weak activity and subdued demand.
As for refining pig iron, new increases were recorded in April in dollar-denominated quotations for material of Brazilian and Ukrainian origin, although these rises were not fully absorbed by steelmakers, which resisted the new price levels. In the hematite pig iron segment, the holiday calendar led many foundries to schedule extended plant stoppages, while demand remained weak and contracts involved limited volumes. Many foundries are also still receiving material linked to contracts concluded at the end of 2025, not affected by CBAM costs.
Uncertainty remains on both the energy and logistics fronts. Tensions around the Strait of Hormuz continue to represent a risk factor for supply chains and crude oil prices, while transport continues to be affected by difficulties in the intermodal network and by delivery delays.
The market for nodular pig iron in ingots remains stagnant, held back by weak demand and the presence of pre-CBAM stocks. Negotiations are sporadic and focused on limited volumes, with prices stable or slightly higher. Finally, in the ferroalloys segment, the market showed an overall stable trend, with downward signals for silicomanganese, ferromanganese and ferrosilicon, while noble ferroalloys remained stable at relatively high price levels.