The upward trend of domestic scrap prices in Italy has continued to slow down in view of the coming summer hiatus. Market sources state that Italian steelmakers are now in wait-and-see mode, except for specialty steel producers who have increased their scrap purchase prices slightly in the past week, for material to be delivered by the end of August. Scrap availability is generally decent in the market. According to sources, Italian mills and scrap traders will halt their activities for between one and three weeks for the summer break. Meanwhile, no clear idea yet exists regarding how local scrap prices in Italy will trend at the end of August.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
220-230 ($260-271/mt) |
|
HMS (E1/E3) |
240-255 ($283-301/mt) |
|
Shredded scrap (E40) |
275-285 ($325-336/mt) |
|
Busheling (E8) |
275-280 ($325-330/mt) |
Prices include delivery and exclude VAT.
€1 = $1.18