Assofermet sees October scrap stability, HBI sourcing issue

Scrap prices in the Mediterranean were basically stable month-on-month in October but Italian steel trade association Assofermet registered a slight increase by the end of the month, it confirms to Kallanish.

In the Italian domestic market there was also month-on-month price stability but the association saw a substantial interest for the highest scrap qualities and subdued sales volumes for the lower grades for which quotations decreased slightly.

In the domestic market pig iron prices increased slightly. This was caused by low stocks at ports and the lack of fresh seaborne arrivals. As reported, pig iron sales from CIS producers directly to mills and distributors were very low in October due to uncertain international prices.

As far as hot-briquetted iron is concerned, prices remained stable compared to September. The HBI sourcing issue, however, persisted in October, Assofermet concludes.