During the past week, prices in the local Italian scrap market have decreased further. Current prices are €20/mt lower than the levels recorded in the second half of January.
The reasons for the decline seen in the local Italian scrap market are the downward movement of import scrap prices in Turkey and the slowdown of production in the Italian market due to low finished steel demand - especially for rebar, both in the domestic market and abroad, as the delay in the renewal of rebar import licenses in Algeria is still responsible for a standstill in rebar export activities from Italy.
According to sources, domestic scrap prices in Italy may fall further in the coming days, unless positive signals start to come from the global scrap market.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 190-200 ($201-212/mt) |
HMS (E1/E3) | 210-220 ($223-233/mt) |
Shredded scrap (E40) | 230-240 ($244-254/mt) |
Busheling (E8) | 220-235 ($233-249/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06