According to market sources, prices in the local Italian scrap market have increased by 10 percent as compared to early August levels, due to the ongoing rises of the prices of both raw material and finished steel in the global markets. However, the prices have not settled yet and Italian scrap traders are waiting for prices to reach the highest levels before starting to sell. Meanwhile, demand in the market is at decent levels as most of the Italian steel mills’ have returned to market after summer holidays. According to market sources, if Italian scrap traders continue to be reluctant to make sales, local scrap prices will increase further in the coming days.
Average spot prices in the local Italian scrap market in August were at following levels:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
220-230 ($262-273/mt) |
|
HMS (E1/E3) |
240-255 ($285-303/mt) |
|
Shredded scrap (E40) |
275-285 ($327-338/mt) |
|
Busheling (E8) |
275-280 ($327-332/mt) |
Prices include delivery and exclude VAT.
€1 = $1.19