Local Italian scrap market on holiday, keeping an eye on possible rise

In the current summer holiday season when Italian mills carry out maintenance works, steel and raw material demand in Italy is on the low side. However, the change in international scrap market is attracting attention in the country as well as the disruptions observed in the local EU scrap market. According to an Italian source, “All plants are aware of the situation and if there is any possibility they are willing to buy some scrap.” The initial expectations of a downtrend in the local Italian scrap market have changed over the past week. Currently, market players believe prices may stabilize with potential to move up, particularly for higher volumes. “However, there are no big volumes available in the market due to the summer holidays,” a source stated.

Nevertheless, as one market intermediary stated, “There will be no real market starting from next week to the end of August.” For now, the local Italian scrap market is moving sideways. Currently, average spot prices in the local Italian scrap market are as shown in the table:

Prices include delivery and exclude VAT.