According to the usual monthly market report issued by Assofermet, the association representing Italian distributors of scrap, in December 2025 movements in the scrap segment were limited, while an upward trend was confirmed.
Italian ferrous scrap market
December 2025 began with stable prices and demand, ending with slight increases of €5/mt.
The start of the new year was quiet, as producers' activities will resume in the second half of the month. Their acceptance of price increases helped improve market sentiments, which could be undermined by a possible decline in production.
The availability of scrap will be determined by demand for finished steel and incoming material flows, both of which are rather scarce at the moment.
International and Turkish scrap markets
In December and in the first weeks of January, the upward trend that began in November continued. Specifically, prices for materials from the US, Europe, and the UK to Turkey increased by $15/mt.
The same trend was observed in Europe, despite logistical problems in Germany and France. In Spain, increases amounted to €10-15/mt. According to Assofermet: “Despite a general context of great uncertainty and sluggish availability and demand, sentiments in Europe seem to be slightly more positive.”
In contrast, Asian markets were less active, despite a slight recovery in demand.
Stainless steel scrap
In the stainless steel scrap segment, supply and demand in Italy and Europe remained low, as in the previous two months, which helped keep prices unchanged.
In India, prices remained in line with international benchmarks, but buyers only purchased the necessary volumes. In Indonesia, on the other hand, participants are waiting to see how the new year will unfold.
According to its note, Assofermet believes that the Carbon Border Adjustment Mechanism (CBAM) is the real “market driver”. In fact, January will be dedicated to understanding the new rules and the costs they entail.
The superalloy segment continues to be weak, “with stocks struggling to rotate on standard products”. As for high-speed steel, demand has been limited to the materials needed in active manufacturing sectors.
Pig iron
In December, the market remained stable due to the implementation of CBAM and difficulties in calculating costs. At present, no change in direction is expected in January.
On a global level, however, there have been some price increases. In particular, Assofermet refers to the prices of Russian pig iron in Turkey and the prices from Brazil and Ukraine in the United States (+$5-10/mt).
During the same month, there was an increase of $10/mt in the Ukrainian market. Other increases affected Russian pig iron sold in Turkey, although the shortage of local demand did not help.
Hematite pig iron
In December, several deals were concluded for the supply of hematite pig iron in January and in the first quarter of 2026. However, Assofermet points out that these movements do not indicate a recovery in demand, but rather “the willingness of foundries to fix prices in view of the new CBAM regulation” (in force since January 1, 2026). Consequently, CBAM remains a determining factor for future forecasts.
The outlook remains uncertain, and demand, which is sporadic and discontinuous, is limited to short-term requirements to cover December needs.
Transport in Europe remains compromised, especially after the weather conditions of recent weeks, causing delivery delays.
Ductile iron
In December, demand for special cast iron was minimal. “Prices remained stable, pending clarification on the CBAM issue and sufficient availability,” Assofermet stated.
In foundries, the main concerns stem from low sales, not from purchasing difficulties linked to CBAM regulations.
Ferroalloys
The ferroalloy market has been “frozen” by the European safeguard measures introduced on November 18, 2025, and by CBAM.
In general, availability remains limited and prices uncertain.