ITALY STEEL SCRAP: Italian domestic prices jump on material shortages

Italian domestic steel scrap prices increased substantially in the month to Friday June 11, with mills facing extreme shortages of the steelmaking raw material, sources told Fastmarkets.

The southern European country’s steelmakers were unable to source the necessary volumes of scrap due to shortages across Europe, particularly for new scrap grades, market sources said.
Supplies of new scrap, including E8-grade, were short due to the decline in production in the automotive industry, itself caused by the shortage of semiconductors, sources said. Car manufacturers are the main suppliers of E8-grade scrap material to the European market.

The availability of new scrap from steel service centers has also been tight due to the shortage of...

Published

Maria Tanatar

June 11, 2021

17:47 GMT

London