During the past week, there have not been any price changes in the Italian domestic scrap market, which is still waiting for a clear direction. Sources have told SteelOrbis that the market was recently impacted significantly by the holidays in Italy which resulted in a lack of scrap shipments. For this reason, local mills had stepped up their scrap purchases in previous weeks and thus provided support for local prices in spite of the bearish trend of international raw material prices. According to market sources, scrap prices may decline in Italy, and in the rest of Europe, in the coming period if raw material prices decrease further and if rebar exports from Italy to Algeria continue to be blocked due to the non-release of rebar import licenses in Algeria.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 210-225 ($229-245/mt) |
HMS (E1/E3) | 235-245 ($256-267/mt) |
Shredded scrap (E40) | 260-270 ($283-294/mt) |
Busheling (E8) | 250-255 ($273-278/mt) |
Prices include delivery and exclude VAT.
€1 = $1.09