Italian scrap prices are expected to fall compared to last week despite hopes that they may uptick in May. May prices are set to lose between €5-10/tonne ($5.9-11.8/t) month-on-month.

The market has been flat both last week and this week with a fall in sales volumes, particularly for the high-quality grades. Mills are determined to decrease their scrap purchasing prices by €10/t due falling prices of domestic long products and decreasing sales volumes, market sources tell Kallanish.

Scrap merchants are trying to maintain price stability because they are not able to pass on any decrease to their own suppliers. However, demand has been low in May and the market difficult. While demolition qualities are still selling at the April’s prices of €290/t for E1 and €280/t for E3, new arising E8 buyers are negotiating hard for a price reduction, sources say.