The cost of stainless steel scrap
In Europe, it declined this month as speculation about global nickel supplies exacerbated the effects of lower demand for stainless steel.
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European Parliament respondents in France, Germany, Italy and the Netherlands reported sharp declines in prices for stainless steel scrap in the second half of June and in July. Despite the fact that prices for 304 grade raw materials remain above the levels recorded in 2025, many buyers reported that prices for 304 grade raw materials decreased by as much as 110 euros per ton on a monthly basis.
The most significant reductions were recorded in Italy, where stainless steel scrap dealers purchased the material for just 1,150 euros per ton. Some scrap processors in the country have suspended collection amid high inventories as demand continued to decline ahead of the summer holidays in the region. Assofermet, the trade association of the Italian steel sector, reported that stainless scrap dealers increased sales to Indian customers amid a slowdown in domestic purchases.
,Nickel prices fall amid "speculation" in Indonesia ,
,The decline in nickel prices this month weakened support for European prices for scrap stainless steel and selling prices for finished steel at factories. Reports that the Indonesian government is going to ease previously imposed restrictions on nickel ore production in the country have provoked a decrease in daily nickel prices on the LME exchange. In the period from June 2 to July 2, prices decreased by 16.2%, from USD 19,165 to USD 16,060 per ton.
As previously reported by MEPs, earlier this year, Indonesia's Ministry of Energy and Mineral Resources reduced its annual quotas for nickel ore production to 260-270 million tons. This prompted the International Nickel Research Group to report expectations of a moderate global supply shortage in 2026, the first time since 2021.
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- This article first appeared in the July issue of MEPS International. The case is made of stainless steel grade. The publication provides information on market conditions, stainless steel prices, indices and forecasts in key markets in Europe, Asia and North America . Contact MEPs. . for more information on how to subscribe.
This month, the ministry rejected suggestions that it was planning a significant increase in nickel production quotas from their current volume. The Director General of Minerals and Coal stated three times that "the Ministry of ESDM has never made such a statement," later adding that "there will be no increase in nickel prices, except that this