Italian stainless scrap rises as demand improves

Italian stainless steel scrap is back in demand, with prices recovering and largest scrap consumer Acciai Speciali Terni said to be ordering a constant flow of material, sellers tell Kallanish.

304 grade stainless steel scrap is being sold at €1,390-1,450/tonne ($1,652-1,724) delivered. Grade 316 remains in short supply and is sold this month at €1,690-1,750/t delivered, sources say. The market was slow to start in April due to the Easter break, but it is now said to be dynamic, with merchants reaching their monthly sales targets. Scrap prices are forecast to increase again in the coming weeks as nickel values are also seen hiking.

Nickel prices are slowly climbing after dropping in March. Offers for nickel cash buyers were at $16,255/t on 26 March and reached $16,778/t on 8 April, Kallanish is told.

Meanwhile, demand for finished stainless products in Italy is particularly strong and prices are increasing for both flats, tube and long products.

Natalia Capra France