Italian scrap prices tumble in July
Italian scrap prices are falling by €30-35/tonne ($34.3-45.7/t) compared to last month depending on grade, with some mills announcing €40-50/t decreases for certain grades they have lower requirements for, Kallanish hears.
Several long product mills will continue implementing production stoppages this month to balance supply and demand, further reducing scrap consumption. Following the extensive stoppages in June, many mills started July with full scrap yards. Some mills will stop production next week and resume in mid-August. They intend to produce in August to take advantage of lower energy costs.
The E40 mixed grade is now assessed at around €320/t delivered. Automotive-grade material is priced at €340-345/t. E3 is now trading at €315-325/t delivered on average, while E1 is at €280-290/t depending on quality.
E8 mixed grade starts at €315/t, rising to €360/t for the top automotive grades.
From: Kallanish
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