Demand and supply still balanced in Italian scrap market

Wednesday, 10 June 2020 17:54:08 (GMT+3)   |   Brescia
       

Supply in the local scrap market in Italy is still low overall but is in line with the sporadic demand. This is the situation found in the Italian scrap market, where some steel mills have slightly lowered their purchase prices (-€5/mt on average) compared to May 21. "Demand is not uniform. It is stronger from producers of long steels, weaker from producers of flats and special steels,” one source told SteelOrbis. Other operators have pointed out that, although the prices of lower categories have been affected by an excess of supply, these materials are those for which demand appears higher, being linked to production of long steels. In general, accordingly, we can still speak of an equilibrium in the market of the raw material for electric furnaces. At the moment, demand for finished products is still weak. However, the hope of national scrap dealers is that production will show an acceleration in the coming weeks. The immediate consequence of this would be an upward realignment of the prices of the "low" categories. On the international level, a favorable situation is seen as scrap prices have been rising since the end of May in Turkey, while iron ore prices have remained above $100/mt in the last ten days.


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