Italian scrap prices are declining by over €30/tonne ($32) in May but mills are rumoured to be pushing for more price falls.
The market is being hampered by slow finished flat and long steel orders. The current scrap price reductions are in line with other European countries, such as France, the Benelux and Germany, where steelmakers are preparing to push their prices down by €30-35/t, sources tell Kallanish.
This is happening despite the short supply …
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