After the drop registered at the beginning of the year, scrap prices in Italy have slipped by another €10/mt ($11/mt) due to strong buyer pressure. Buyers are facing very weak finished product demand and are also evaluating cheap billets offers from China.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 130-140 ($142-153/mt) |
HMS (E1/E3) | 160-170 ($174-185/mt) |
Shredded scrap (E40) | 175-185 ($190-202/mt) |
Busheling (E8) | 175-185 ($191-202/mt) |
Prices include delivery and exclude VAT.
Looking ahead to next month, market players say there will be no significant fluctuation in prices in the domestic market. Scrap availability remains decent considering that the current low demand could also slow down further due to the difficulties steel producers are facing.
€1 = $1.09