While domestic scrap prices in the Italian market are for the moment unchanged from the levels recorded one week earlier, market sources have indicated that prices are expected to increase by around €5-10/mt as a result of negotiations which are currently ongoing.
With long steel product sales in Italy still slack, market sources state that the expectations of an increase in scrap prices have their origin in the upward trend of import scrap prices in Turkey. Concerning the availability of scrap in the Italian domestic market, one source at a steel producer explained that, after a long period of price stability, recent signals of an imminent increase in scrap prices have led to a decrease in scrap supply due to the speculative strategies of many Italian scrap suppliers. As a result, scrap availability in Italy is now on the tight side.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
205-220 ($234-251/mt) |
|
HMS (E1/E3) |
225-240 ($257-274/mt) |
|
Shredded scrap (E40) |
255-270 ($291-308/mt) |
|
Busheling (E8) |
250-265 ($285-302/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14