General range unchanged for local Italian scrap prices

Although some Italian steel mills have adjusted their scrap purchase prices further, the general price range in the local Italian scrap market has remained unchanged. According to sources, scrap consumption is at a very low level due to the imminent summer shutdowns of steel mills (some have already begun) and the difficult situation in the finished steel market.

Producers, in fact, are increasingly worried as the finished market is “continuously deteriorating, regardless of the summer season,” one source said, adding, “There is a lack of orders and consumption is very low, we have to review production plans”. According to market participants, it is indeed possible that some mills will extend their summer shutdowns to cope with the situation.

Prices include delivery and exclude VAT.

In Spain, prices in the local scrap market have decreased by €10/mt as local mills adjusted their price lists to the prices announced last week by a major producer.  According to sources, demand continues to be rather low due to ongoing production stoppages.

Prices include delivery and exclude VAT.