Sentiment in local Italian scrap market improves slightly

Over the past week not much has changed in the local Italian scrap market, though sentiment is a bit better. “A few producers are asking for more scrap this week, but prices have not showed a clear increase,” a source commented. Another source said that average prices did not move except a mere €1-2/mt.

Next week, negotiations for October contracts will start in Italy. Some market players believe that there is a possibility of an increase in prices. “I think if production rates return at least to 80 percent, we may see a recovery in scrap quotations,” a source said. While demand for scrap and finished steel is still soft and the uncertainties regarding fluctuations in energy costs continue, market players believe there will be a clearer picture in early October.

As a result, SteelOrbis’ reference prices for local scrap prices in Italy have remained stable week on week and are as below:

Prices include delivery and exclude VAT.