According to Assofermet's September monthly market note, the Italian ferrous scrap market recorded a general price increase of €5-15/mt for medium-to-high grades, while demand and scrap availability remained at acceptable levels, slightly above expectations. The price increases were supported by steelmakers replenishing reduced inventories following sharp price cuts during the summer months, as well as by purchasing activity from Turkey. However, higher energy costs, reaching an impact of approximately €60/mt, prompted several Italian steel plants to reduce shifts or temporarily halt operations, limiting domestic scrap demand.
For October, Assofermet indicated the outlook ranging from stability to moderate optimism, noting that "if production returns to a reasonable pace, further price improvements can be expected." In the international scrap market, an upward trend that began in late August accelerated, particularly in Turkey where scrap prices increased by $25-30/mt. This rise was supported by demand recovery but mainly driven by higher logistics costs and ocean freight rates. Geopolitical tensions have reduced vessel availability and increased transit times, insurance costs and war risk premiums.
Asian markets also recorded increases, although more limited due to weak demand, while European price trends remained more uncertain with significant differences between countries and individual buyers. In the stainless scrap segment, demand from Italian and European stainless steel mills remained weak, with purchasing activity limited in anticipation of substantial volumes of imported billets expected by year-end. Despite declining nickel prices on the London Metal Exchange (LME), stainless scrap prices recorded a modest rebound, mainly due to reduced material availability rather than consumption recovery.
India continues to represent an important export outlet for stainless scrap, with exports expected to play a key role in supporting the market during the final quarter. Pig iron prices remained broadly stable at origin in September, though final European prices were negatively affected by the weaker euro exchange rate and the worsening energy crisis. Brazilian basic pig iron prices remained around $440-450/mt FOB, but delivered costs to European ports remained high due to increased freight rates from Brazil, which rose from $38/mt to approximately $50/mt.
In the United States, pig iron imports increased by 50 percent in September, supported by substantial arrivals from Brazil and Ukraine. Black Sea exports remain effectively blocked from both Ukraine and Russia. Demand for hematite pig iron remained weak with sporadic transactions, while price increases were driven mainly by higher transportation costs and upward revisions to producers' FOB prices.
The ductile iron segment remained broadly stable with unchanged prices at origin and structurally weak demand from foundries. The Italian ferroalloy market showed mixed trends in September. Manganese and silicon alloys remained weak due to production slowdowns at steel mills, while ferrochrome and noble alloys showed greater activity and slight price increases.
European producers have indicated that Chinese trade flows are shifting towards Angola in an attempt to circumvent EU antidumping duties, with the European Commission reportedly launching an interim review. The ferrochrome and noble alloy segment showed greater activity with slight upward price adjustments, resulting in a divided market with bulk ferroalloys held back by weak consumption while specialty products better defended their margins. Source: Assofermet monthly market note, reported by SteelOrbis on 7 October 2026.
Source: steelorbis.com