After going quiet last week, the Italian scrap market seems ready for a price decline of €20-30/tonne ($22-33) in May. Several mills are implementing production stoppages or producing less until 2 May, after the holiday, to balance demand and supply.
Demand for scrap is said to be “stuck”, as April has been a very difficult month for all finished product sales. Sellers are reporting low volumes for both long products and coils, Kallanish hears.
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