Following the declines in import scrap prices in Turkey, Italian steel producers have started exerting downward pressure on domestic scrap prices.
Nevertheless, market sources have explained that for the rest of the current month there will be no price movement as current prices depend on contracts that have already been finalized. However, domestic scrap prices in Italy may decrease in February. Meanwhile, local scrap availability has recently increased in Italy, as happens when market players feel that prices are moving toward maximum levels. Sources are unable to predict the margin of decrease in local scrap prices next month - all will depend on factors such as Turkish steelmakers' scrap purchases and demand in the finished steel markets.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 215-225 ($230-241/mt) |
HMS (E1/E3) | 235-240 ($251-257/mt) |
Shredded scrap (E40) | 255-265 ($273-284/mt) |
Busheling (E8) | 250-260 ($268-278/mt) |
Prices include delivery and exclude VAT.
€1 = $1.07