According to the monthly market report issued by Assofermet, the association representing Italian distributors of scrap, October 2025 was characterized by “substantial stability.”
Italian ferrous scrap market
In October, the situation in the Italian market remained fairly stable, with some price increases towards the end of the month for quality materials. This increase was not uniform: in fact, it only affected flat products, while prices for long products remained unchanged. The forecast for November is optimistic, although the weakness of scrap collection activity is causing some concern.
International and Turkish scrap markets
In early October, scrap prices in the Turkish market rose by $5/mt, then remained stable due to weak demand.
In European markets, on the other hand, a downward trend and inconsistent demand prevailed. Only a few of these markets, such as Spain, proposed small price increases for November deliveries at the end of the month, which were not accepted.
In Asia, particularly in India, activity only resumed in the last few days of October.
Stainless steel scrap
In terms of stainless steel scrap, supply and demand have remained virtually stable and no changes are expected at present.
According to Assofermet, “The factor causing the most discussion and market distortion continues to be the increase in the arrival of slabs from Asia, both in Italy and in Europe.” In fact, these are produced using nickel pig iron, a process that is not in line with European environmental sustainability and decarbonization objectives. “The question that arises is how products derived from these slabs can therefore be classified as green within the European supply chain. [...] The use of nickel pig iron is effectively replacing the demand for scrap, compromising the valorization of recycled material and the environmental sustainability process underway in Europe.”
As for superalloys and high-speed steels, activity and buying interest have been low.
Pig iron
Considering that Europe will no longer import Russian pig iron from 2026, buyers have begun to show more interest in Ukraine, which, together with Brazil, will be the main suppliers of pig iron.
Internationally, demand in Turkey has been weak, and offers for Russian material have fallen further.
The US market is also stable, with prices hovering around $407-412/mt CFR US port for high phosphorous Brazilian material.
Hematite pig iron
The stability seen in October confirmed the weakness of the hematite pig iron market. The outlook remains uncertain, and US-EU tariffs are weighing heavily on foundries, which are facing export difficulties in maintaining their competitiveness.
Demand is limited to short-term requirements, although some quarterly agreements have been concluded.
In Europe, transport is still slow and delivery delays are complicating production management in foundries
Ductile iron
October was characterized by inconsistent activity and even closures lasting several weeks. As a result, requests were sporadic and only to meet immediate needs.
Price changes for special pig irons were minimal, mainly due to the entry into force of CBAM in January 2026. In fact, demand increased in order to clear customs for the material before the end of the year.
Ferroalloys
The situation was generally stable. There were slight price increases for low carbon ferrochrome