Local Italian scrap market stable despite falling international scrap prices

The local scrap market in Italy continues to be largely unaffected by international trends with prices remaining stable this week, even though deep sea scrap quotations from Europe fell by $21/mt to $367/mt CFR Turkey in the latest deal.

According to sources, the Italian scrap market has been quiet over the past week, with market players waiting to understand the actual duration of the production shutdowns planned by steel mills for the end of the month to coincide with the All Saints holiday. Market participants report that supply and demand remain in a delicate equilibrium, both at very low levels, making it difficult to lower or raise raw material quotations as the economic cycle is at a standstill and recycling activity is very low. In general, the expectation is that the market will continue to move sideways. “The reality in Europe remains what it is. It would take important signals at the European level for a recovery,” one source commented.

Prices include delivery and exclude VAT.