The local Italian scrap market has continued to trend down, declining by €15/mt ($17/mt) since our report last week, but market players are not worried because they are convinced that the market is not entering a sharp downward curve. The beginning of next week is expected to bring greater clarity regarding the price situation.
At present, Italian domestic prices stand at €170-180/mt ($194-205/mt) for turnings, at €220-230/mt ($251-262/mt) for shredded scrap and at €215/mt ($245/mt) for busheling, all for delivery to customer.
In the meantime, there does not appear to be any problem as regards scrap collection, while mills are in wait-and-see mode, since they are in no hurry to buy as they are finding it difficult to conclude sales of finished steel.
€1 = $1.14