September has not yet begun and most players in the Italian steel market are coming back from the August break, while there has already been talk in the past few days of requests from domestic steel mills for reductions in scrap prices. "They definitely aim to lower their purchase prices," a local scrap trader explained, mentioning the increase in supply. Turnings and HMS prices may drop by €20-30mt according to several sources, while busheling prices should be able to show more resistance to downward pressures due to lower availability. However, “the fact that pig iron prices have decreased in the past month could have a negative influence on quality materials too.” Another factor that is weighing on Italian scrap prices is the trend of international raw material prices such as iron ore in China and scrap in Turkey. The latter has seen a price decrease of more than four percent in the past month. "The rebound [of import scrap prices in Turkey] that many of us expected has not materialized yet," said the same source. In the Italian market, prices are currently said to be at €470-490/mt in the case of shredded scrap and busheling, at €420-440/mt for HMS, and at €380-400/mt in the case of turnings. However, sources said that prices will not settle until the end of this week or early next week.