In Italy, domestic scrap prices have decreased by €10/mt on average compared to last week. As reported previously, the Italian market was late in recognizing the declines in import scrap prices that were recorded in Turkey in the second half of March. Currently, some sources expect further slight declines, while others think that the bearish trend has already ended, especially given recent developments in import scrap prices in Turkey. Meanwhile, all sources agree that, after the resumption of Italian rebar exports to Algeria, scrap demand will increase and the Italian scrap market will gain further strength.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 210-225 ($225-241/mt) |
HMS (E1/E3) | 235-245 ($251-262/mt) |
Shredded scrap (E40) | 260-270 ($278-289/mt) |
Busheling (E8) | 250-255 ($268-273/mt) |
Prices include delivery and exclude VAT.
€1 = $1.07