After the €5/mt increase recorded at the beginning of the past week, Italian scrap prices have moved up during recent days, first by another €5/mt and then by an additional €5-10/mt, depending on the typs of scrap. Market sources now speak of low supply, in particular for HMS scrap. In the meantime, it seems that the room for further upward movement of scrap prices is limited since demand for finished steel products is weak and as mills are facing difficulties in charging higher prices.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 170-185 ($185-202/mt) |
HMS (E1/E3) | 185-195 ($202-213/mt) |
Shredded scrap (E40) | 205-210 ($223-229/mt) |
Busheling (E8) | 200-215 ($218-234/mt) |
Prices include delivery and exclude VAT.
€1 = $1.09