Starting in March, scrap prices in the Italian market have risen on the back of a number of factors including rising international prices, Turkish steel producers' increased scrap purchase prices, improved demand for finished steel, and the recovery in prices of raw material and semi-finished steel. Over the past two weeks, scrap prices in Italy have risen by 17-18 percent (€20-30/mt or $23-34/mt).
Italian market players state that the first signs are now seen of a slowdown in the upward trend of scrap prices, at least in Europe. Turkish producers are showing increased interest in buying billets, while in the European market the prices of finished steel products are still far from being considered profitable, especially for rebar, despite recent increases in finished steel prices.
Other market players point out that there are a number of steel producers in Italy with no scrap stocks, and that demand for scrap is strong while supply is poor.
At present, there is also some confusion regarding scrap quotations in Italy, with prices being decided according to the needs of the purchaser on a case-by-case basis.
€1 = $1.14