ITALY STEEL SCRAP: Domestic prices inch down on limited demand

Domestic prices for ferrous scrap in Italy moved down slightly in the month to Tuesday August 11, with demand for the raw material reduced by scheduled maintenance outages during the month.

Most Italian steel producers stopped production for summer maintenance work in August, but some have changed their schedules this year and planned shorter stoppages with demand recovering from the Covid-19-related lockdowns in March-April.
“The mills are either stopped or operating at 30-40% of their usual output, so demand for scrap is low and will not recover until late August or September,” an Italian source said.

Because of this reduced scrap consumption, mills have been buying...

Published

Maria Tanatar

August 11, 2020

17:22 GMT

London