In the Italian domestic scrap market there have only been a few minor upward price adjustments compared to seven days ago, with local scrap prices for the most part remaining stable. However, sources told SteelOrbis that local steelmakers are now pushing to obtain €5-10/mt reductions on the back of the decline of import scrap prices in Turkey.
It is hard to predict the trend of the Italian scrap market next month, but some sources among scrap traders suggest that, as happened last February, local scrap prices may weaken in the coming seven to ten days before resuming an upward trend thanks to the support of the improved performance of finished steel markets. In any case, much will depend, as always, on the trend of import scrap prices in Turkey.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 220-235 ($240-256/mt) |
HMS (E1/E3) | 245-255 ($267-278/mt) |
Shredded scrap (E40) | 275-285 ($300-311/mt) |
Busheling (E8) | 260-265 ($283-289/mt) |
Prices include delivery and exclude VAT.
€1 = $1.09