Italian scrap prices are increasing by €5/tonne ($5.8/t) on average month-on-month although values for some grades have remained stable. Transactions however are happening in a relatively quiet market where mills are purchasing reduced tonnages compared to last month, Kallanish learns from market sources.

Due to the current domestic and international market uncertainty “… the mills that usually book say 2000 tonnes are now booking 1000t or less. We are selling smaller volumes,” a large merchant says.

Demolition grades purchased by rebar makers have gained €5/t. While E1 is at €285/t delivered, E3 is sold for €10/t less. E8 new arisings grade remains stable m-o-m at €305-315/t delivered depending on quality while shredded scrap E40 is also stable at €305-310/t delivered, sources suggest.