Local Italian scrap prices remain stable

The situation in the Italian domestic scrap market has remained stable during the past two weeks. According to local sources, the only difference is that some local mills have brought their scrap purchase prices in line with the prices of other mills, but overall the price ranges in the market have not changed.

One local steelmaker has halted operations at one furnace for maintenance works, while other steel producers are expected to stop their activities due to the approach of the summer holidays. However, sources believe that prices will not change much or will decrease slightly before August considering that, even if domestic scrap demand is weak, local supply also remains low. In particular, there is low availability of prime quality scrap such as busheling.

According to sources, most steelmakers are going to halt their activities for one to three weeks in the coming period, while specialty steel producers' stoppages may be longer, i.e., even up to five weeks.

Average spot prices in the local Italian scrap market are as follows: 

Prices include delivery and exclude VAT. Price changes were calculated as compared to June 26.