[SMM Stainless Steel Flash] Italian Scrap Prices Fall in June, Weak July Outlook Amid High Stocks and Low Demand
According to Assofermet's monthly report, Italy's scrap market reversed course sharply in the second half of June, with new contract prices falling €20–30/mt below previous highs — a steeper decline than markets had anticipated — as weakening downstream steel demand prompted mills to sharply cut scrap purchases. Internationally, Turkey's scrap market fell US$25–30/mt in June, while Spain declined around €20/mt. In stainless scrap, LME nickel's decline and expectations of July mill production cuts triggered a downward price correction, though tight availability of rarer grades limited the drop; India absorbed significant European volumes in the second half of the month. July opens under pressure, with mills facing weak demand, high inventories, and planned shutdowns bringing purchasing activity near a standstill. In ferroalloys, manganese was the most active segment on pre-safeguard stockpiling, ferrochrome held broadly stable, and ferrosilicon eased slightly at month-end.