According to the information collected by SteelOrbis, in the Italian domestic market HMS I/II 80:20 quotations are at €310-320/mt ($409-422/mt) delivered to customer, VAT excluded. Due to the current quite low demand levels, during the month of April scrap prices in Italy have decreased slightly. Italian scrap traders state that scrap quotations have only fallen marginally, by around €5-10/mt ($7-13/mt), in line with lackluster industrial actitivity.
It is very difficult to give a precise outlook for May. It appears unlikely that scrap prices will gain ground, while many market players expect a month of sideways movement. On the other hand, the possibility of further negative corrections cannot be excluded, and steelmakers' purchase prices could fall further.
€1 = $1.32