The downtrend that had characterized the Italian scrap market over the past two weeks appears to have slowed, with prices stabilizing at the latest levels recorded by SteelOrbis.
According to market sources, the slight increase recorded in import scrap prices in Turkey, as well as signals from producers indicating a halt in the decline of finished steel prices, may suggest that the downward movement in scrap prices has also come to an end.
However, this comes amid a domestic market still marked by the sluggish summer season, slack demand and rising operating costs due to the escalation of tensions in the Middle East.
“At the moment, the only thing to do is wait,” one source told SteelOrbis. Commenting on the slow scrap consumption, a representative of an Italian steelmaker stated, “Nothing will change. The European industry is still going through a severe crisis.”
In light of the above, local scrap prices in Italy stand at the levels shown in the table below. It should be noted that, within the HMS scrap grade, E1 scrap stands at €275-285/mt, while E3 stands at €290-315/mt.
Quality |
Average spot price (€/mt) |
Average spot price (€/mt) |
Average spot price (€/mt) |
Period |
July 23 |
July 16 |
June 25 |
Turnings (E5) |
275-295 | 275-295 | 300-310 |
HMS (E1/E3) |
270-315 | 270-315 | 290-330 |
Shredded (E40) |
325-335 | 325-335 | 330-345 |
Busheling (E8) |
325-335 | 325-335 | 335-345 |
Prices include delivery and exclude VAT.
