Local Italian scrap market moves up during February

The local Italian scrap market has not followed the general price trend observed across Europe as there is still reluctance observed in the long steel segment. While the main buyer of Italian construction steel is Germany, the slowdown in Germany’s construction activities has taken a toll on Italy. Some German players think that due to inflation construction is slower than usual but may recover a little in the coming weeks amid improving weather conditions.  

“Energy prices and construction steel consumption in Germany causes Italy to remain silent,” a source reported. In past months, flat steel prices in the country have improved, leading the scrap procurement price range to widen. While long steel producers, particularly rebar producers, are seeking lower scrap prices, others are more relaxed as regards prices due to the increasing flat steel segment.  

The rising import scrap quotations in Turkey may cause some stress in the local Italian scrap market, as suppliers may decide to export their tonnages against the more attractive figures coming out of Turkey. As a result, the local Italian scrap market is expected to increase in the coming weeks. 

SteelOrbis’ range of reference prices for local scrap prices in Italy are revised as below: 

Prices include delivery and exclude VAT.