[SMM Stainless Steel Flash] Italian Scrap Prices Fall in June, Weak July Outlook Amid High Stocks and Low Demand

Published: Jul 8, 2026 15:13

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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.

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