Assofermet reports in its usual monthly market update, the Italian ferrous scrap market recorded a strong start in February, followed by a stabilization phase in the second half of the month. In the first weeks of the month, scrap prices rose by an average of about 15 euros per tonne, confirming the upward trend already observed in January and pushing domestic scrap sales to maximum levels, allowing steel mills to cover their raw material requirements.
However, towards the end of the month the market began to cool. limited production programs, a stalemate in the Turkish market and a further deterioration in the geopolitical situation in the Middle East have contributed to weakening sentiment among operators, raising concerns about potential price cuts that have not materialized to date.
The forecast for March remains difficult to interpret. Continued weakness in finished steel sales, coupled with a shortage of high-quality scrap, makes the near-term outlook particularly uncertain. In this context, market participants will closely monitor trends in finished steel demand and production levels, especially in light of possible increases in energy costs associated with the current war. As a result, March is now likely to be a relatively weak month for scrap metal purchases.
Internationally, the scrap metal market showed overall price stability in February. In Turkey, negotiations between suppliers seeking further small price increases and buyers seeking to reduce previously peak price levels ultimately ended without significant changes. European markets recorded some gains, while import prices remained largely unchanged from the start of the month. Meanwhile, Asian markets saw fluctuating demand, partly due to seasonal holidays, resulting in generally stable prices.
In the stainless steel scrap segment, prices rose in February compared to the previous month, supported by higher London Metal Exchange nickel prices and slightly stronger demand from steel producers. Despite this, demand remains average and material availability remains limited. Market sentiment for March is currently positive, although still cautious due to the uncertainty associated with the evolving geopolitical situation.
As for cast iron, the European market did not record significant changes in February. Entry into force of the CBAM regulation and difficulties with interpretation
