Following the previous long-standing upward movement, local Italian scrap prices have decreased by €5-10/mt ($6-11/mt) during recent days. Market players agree that scrap prices will decrease further since local demand is weak, while Turkish buyers have stopped placing scrap orders and at the same time global billet prices have also decreased. In the meantime, Italian steel mills are not pushing for strong discounts since they want to avoid the risk of a sharp decrease in their own finished product prices.
Meanwhile, scrap supply is plentiful since collection activity is strong amid high prices.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 195-220 ($220-249/mt) |
HMS (E1/E3) | 215-240 ($243-271/mt) |
Shredded scrap (E40) | 245-255 ($277-288/mt) |
Busheling (E8) | 235-260 ($266-294/mt) |
Prices include delivery and exclude VAT.