Italian scrap prices are stable on June, with mills offering a €5/tonne ($5.6/t) decrease for grades as contracts are being negotiated for the first half of July. This confirms the trend seen in other European countries, market participants tell Kallanish.

Demand remains low due to both uncertainty and poor domestic long products sales. Mills are booking low volumes and refusing to stock up. Meanwhile, merchants are also paying high prices for scrap. Their margins are squeezed as selling prices are not increasing this month despite low scrap availably, sources say.

Old thick E3 scrap remains at €220/t delivered. The lower-quality old thin E1 grade has reached the level of €195-210/t delivered depending on quality. E40 is booked at €235-245/t. E8 new arisings remains at €230-240/t delivered for the mixed grade and €250-255/t for the very high quality, sources suggest.