Market in Italy remains same
Sources report the market in Italy remains unchanged since March with some mills trying to reverse the €4/mt increase for all grades by €1-2/mt. Regardless, the Italian market is stable in spite of pressure from the mills who are expected to stop production for a week at the end of April into May due to national holidays. Due to Black Sea prices hardening by around $2-3/mt and East European scrap prices staying almost at the same level as in March, Italian scrap traders feel it will be difficult for domestic mills to exert enough perssure to bring down prices in the current climate.