According to the Italian iron and steel traders association Assofermet, ex-CIS pig iron offers to Italy are trending up despite opposite price movements for iron ore and coal. Assofermet believes that in the coming weeks pig iron prices will be influenced also by availability and prices of scrap in the global markets.
Despite rising pig iron quotations, Italian demand is expected to be strong due to low reserves at steel plants. This will be the environment at least in the first half of the current month.
As regards ferroalloys, in Italy supplies of basic ferroalloys are plentiful and prices are trending neutral to down. On the other hand, ferrovanadium and ferromolybdenum prices in Italy have been rising in the last few weeks.