Italian ferrous scrap market
In November 2025, there was a reduction in the collection of ferrous scrap. Prices increased by 5-10 euros/ton, and supplies remained stable. The situation remains positive, given that steel mills have received orders until January-February 2026.
International and Turkish scrap markets
In November, scrap prices in the Turkish market increased by $15/ton. According to Assofermet, such an "increase was necessary[ ]to ensure continuity of supply."
In Asia, demand was weak and increased periodically. The price difference between HMS1 and shredded scrap has increased.
However, the market was busier in Europe. In Spain, the price of crushed scrap increased by 10-12 euros/ton in the last days of the month.
Stainless steel scrap
In the stainless steel scrap segment, supply and demand in Italy and Europe remained poor. This instability helped to keep prices unchanged from month to month.
In November, the upward and downward movements were minimal, mainly due to urgent needs and micro-adjustments.
The volume of slabs coming from Indonesia remained constant, which also put pressure on the Indian market. According to Assofermet, this caused "a significant lack of trading in this market for about two weeks, which increased the overall deflationary effect."
The situation also remained unchanged in the high-speed steel segment, with a decrease in interest in products with a high cobalt content.
There was almost no activity in the superalloy market.
Pig iron
Demand was supported by steel mills and traders, who are now stocking up to complete customs clearance procedures before January 1, 2026, when CBAM will come into force.
In November, the Ukrainian market saw an increase of $10/ton. Another increase was in sales of Russian pig iron in Turkey, although weak local demand did not help.
Assofermet commented: "It is important to note the significant price difference between cast iron offered on the Turkish market and cast iron entering the European market, about 80-100 dollars per ton."
Brazil
