Lack of scrap availability effects billet supply by Riva

Lack of scrap availability effects billet supply by Riva

According to latest reports from the industry, production in one of the electric arc furnaces at Italian steel producer Riva's Henningsdorf plant had to be shut down lately. SteelOrbis understands that this pause in production is due to the lack of scrap availability. This situation can be seen as a consequence of the rising scrap price levels and lack of availability in the market. Scrap prices are currently at the levels of around €160/mt. Meanwhile SteelOrbis understands that the billet supply from Riva is not satisfactory even for the domestic market as the Italian rolling mills are looking to book import cargoes for this purpose.