The Italian steel scrap market in March was characterized by an equilibrium between demand and offers, with good supply levels supported by interesting prices, states Assofermet, the Italian association of traders of iron, steel, non-ferrous metals, ferrous scrap, hardware and similar goods. Production of special steel grades is particularly active, underpinning local demand for high grade steel scrap.
In Q1 2011, the general increase in steel output sustained high quotations of scrap, with fluctuations of 5-10 percent, confirming the local market's difficulties in satisfying the growing domestic needs for scrap.
Market insiders forecast a slight decrease in steel scrap prices in Italy in the first two weeks of April, followed by stronger scrap demand in the second part of the month.
The overall eurozone is following a similar trend, while the Turkish market has been indicating weaker scrap demand though buyers there are expected to resume purchases in the second half of April.
Meanwhile, about 61,000 mt of pig iron and 32,000 mt of scrap arrived at Port Marghera, Venice in the month of March.