A negative mood still prevails in the Italian scrap market since scrap availability is abundant while finished product orders are on the scarce side and are not profitable. During September, scrap prices in the local Italian market dropped down by €10-20/mt ($11-22/mt) and could decrease further by another €5/mt ($6/mt) later this week.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 155-165 ($174-185/mt) |
HMS (E1/E3) | 175-185 ($196-207/mt) |
Shredded scrap (E40) | 190-200 ($213-224/mt) |
Busheling (E8) | 180-190 ($202-213/mt) |
Prices include delivery and exclude VAT.
In the meantime, some European steel producers are pushing for a €20/mt ($22/mt) decrease on monthly contracts. If they are successful, this should also have an impact on Italian scrap prices.
Italian sources mention a weak scenario for the local scrap market in the coming weeks.
€1 = $1.12