Italian scrap prices are falling for first half of November delivery by €10/tonne ($11), Kallanish learns from market sources. Some transactions are losing €5/t, depending on material quality.

October scrap sales activity was slow, and merchants registered lower sales tonnages compared to September. The market is coming out of a period of calm and price stagnation that has ended with all mills decreasing their purchasing prices for November. This is due to uncertainty and fears over a new lockdown, Kallanish is told.

Shredded grade E40 is sold at between €240-245/t delivered depending on grade, €5/t less compared to September average levels. New arisings E8 is at €235-240/t for the mixed lower grade and goes up to €260/t for the very good quality. Demolition grade is now at €230-240/t for the thick scrap E3 and €200-210/t for the lower grade E1, sources say.