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Kallanish Kallanish

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November, 26th 2020

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APR 02
11:25

Scrap weakens as Italy extends industry lockdown

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Italy has extended its Covid-19 lockdown to 13 April, after the Easter holiday, with the entire steel value chain remaining inactive and few transactions taking place. Scrap merchants remain closed but some producers will receive material next week as they are stocking up for May when the sector is seen resuming activity, sources tell Kallanish.

“We have laid off all our workers and, apart from very little buying and some deliveries, activity has either stopped or remains at minimum levels,” a large Italian scrap merchant says. “Today there are no prices as there is no market and no scrap imports from other European countries.”

Scrap prices lost an average of €20-30/tonne ($22-33) in March and remain at last week’s levels. Shredded grade E40 has reached €220/t delivered when prices before the lockdown were at €245-250/t delivered. E8 new arisings mixed grade is at €230/t delivered, with €240/t being paid for the higher grade. Demolition grade E1 is at €220/t delivered and E3 is at €205-210/t, sources say.