The Italian scrap market has not experienced any major changes over the past week, and only some mills have decided to lower their scrap purchase prices by €5/mt.
Scrap traders have reported a very quiet market, partly due to upcoming summer closures and the complex situation in the finished products market. "[Scrap] Deliveries have slowed down, falling by about two thirds compared to normal rates," a source commented, adding, "But we can’t complain. This July’s market is in line with recent years and in any case prices are standing at a high level, on average." In general, scrap collectors and traders are expecting a stable or slightly declining market until the end of September, when mills’ scrap yards will be emptied and the demand for the raw material will rise again, supporting prices.
Italian producers have also recorded a deceleration in the national scrap market. However, a source at an Italian mill commented, "Deliveries are proceeding, scrap flows are not interrupted and the scrap volume available can cover our needs, also thanks to lower demand from Turkish producers." Regarding the CBAM (Carbon Border Adjustment Mechanism), the same source said he is "concerned, but curious", as he believes that the new regulations could also come with positive implications for the steel industry.
As anticipated, national scrap prices in Italy have only recorded small downward corrections, especially for higher grades such as shredded and busheling scrap. The latter, in particular, has indicated levels down to €335/mt, but the upper end of the range continues to be around €340/mt, down by just €5/mt week on week.
| Quality | Average spot price (€/mt) | Average spot price (€/mt) | Average spot price (€/mt) |
| Period | July 16 | July 10 | June 19 |
| Turnings (E5) | 280-305 | 285-300 | 285-300 |
| HMS (E3) | 290-300 | 290-300 | 290-310 |
| Shredded (E40) | 330-345 | 330-350 | 330-355 |
| Busheling (E8) | 325-340 | 325-345 | 325-345 |
Prices include delivery and exclude VAT.
