In recent weeks, the Italian domestic ferrous scrap market has followed a downward trend after a 15 month-long sideways phase, according to Assofermet, the Italian association of traders of iron, steel, non-ferrous metals, ferrous scrap, hardware and similar goods. The domestic scrap market is now characterized by greater volatility, which is difficult to manage at every level of the supply chain.
As stated by Assofermet, during the current month scrap quotations will receive support from the difficulties experienced by scrap traders when trying to reflect sales price decreases in their purchase prices for scrap. The phase of panic sales has likely come to an end. Periods of rapid downtrend are usually marked by the willingness of scrap traders to sell off their stocks. In Assofermet's view, the downtrend in Italian scrap prices will likely come to a halt in July.
In the export markets, demand is increasing and average scrap quotations are attractive, also thanks to the euro/dollar exchange rate.
Finally, in June about 49,200 mt of pig iron and 33,600 mt of scrap were imported via Port Marghera, Venice.