Local Italian scrap market remains stable

The local Italian scrap market has remained stable week on week. “At present, everything is calm,” a source reported, but added, “Some little downward adjustment is possible, though it all depends on raw material demand linked to finished steel sales in February.”

Scrap collection in northern European yards is slow. Along with Italian sources, other European scrap suppliers are also saying that scrap availability is on the low side. Depending on the demand received from Turkey, this may be a key fundamental for the Italian scrap market. Meanwhile, demand for steel is not great in Italy, causing uncertainties, and preventing market players from being sure of a positive trend for scrap prices.

“Some plants in Italy resumed production just on Monday, January 23, and others started on January 9, with both producing at 50 percent. It is not clear whether this situation is going to change in February,” an Italian source commented. Another Italian source said, “Production rates in February will be more active. We think that price should increase further. However, we can say that rebar demand in Italy is weak.”

As a result, SteelOrbis’ range of reference prices for local scrap prices in Italy have remained stable as below:

Prices include delivery and exclude VAT.