The Italian scrap market is currently undergoing a price correction, with a decrease of €10-15 per tonne observed in early June. This adjustment is in response to the sluggish sales of finished flat and long products, prompting steelmakers to seek ways to improve their profit margins. The market is also balancing supply and demand dynamics, with several producers reducing their output. This trend suggests that the traditional August stoppages may extend for at least three weeks this year.
Despite the price decrease, the Italian scrap market remains resilient, with the national average for old thick scrap sort 3 stabilizing around €350 per tonne. The market’s ability to maintain stability amidst these corrections indicates a robust and adaptable industry.
