Italian domestic scrap market softens further, signs of stabilization

Domestic scrap prices in Italy have declined further over the past two weeks. “There is pressure on scrap prices in the EU in general,” a EU-based source commented. Export yard delivery prices have declined this week, also exerting pressure on quotations. A German sub-collector stated that scrap offers to Italy may decline by around €30/mt, which also had a negative impact on the local Italian market. 

An Italian source added, “I think we are very close to the bottom, but the positions of various steel producers and products are very different, and so we can see someone buying some quantity and other stuck in their position.” Finished steel demand in Italy is still problematic. There is the possibility of some finished steel restocking to get ready for after the holidays, “but no one can say how much pressure will be felt in the market due to the lower production rates and stoppages scheduled by Italian mills,” the source stated. 

As a result, SteelOrbis’ range of reference prices for local scrap prices in Italy are standing as below:   

Prices include delivery and exclude VAT.