It is still too early to provide accurate prices, but it seems that, after decreasing by €5-10/mt ($5-11/mt) at the beginning of November, domestic scrap prices in Italy may rebound slightly in the current month despite resistance from local steel producers.
So far this tendency has been confirmed abroad: in Germany and France domestic scrap prices have remained stable or have indicated some increases. This has been caused partly by the increasing trend of import scrap prices in Turkey, as market sources have told SteelOrbis.
Activity in the Italian scrap market appears lively at present, while price ranges are still very wide. For instance, busheling scrap prices are in the range of €160-175/mt ($173-189/mt) delivered. Prices have to settle yet and the situation is expected to appear far clearer at the beginning of next week.
Meanwhile, this month Italian steel producers have continued to reduce their outputs, just like they did in October, due to a lack of sales in the finished steel market. For the month of December, production stoppages lasting two or three weeks are already anticipated.