Activity in the Italian scrap market is extremely quiet at the moment. According to market sources, local suppliers are not in any rush to sell, while buyers are not in a rush to conclude purchases either.
Meanwhile, most local players are waiting to see what Turkish mills will do at the end of Ramadan. If the Turkish mills succeed in pushing down import scrap prices to below $200/mt CFR - compared to ex-EU scrap prices in Turkey currently at around $225/mt CFR - European domestic prices could also be dragged down.
According to market sources, in the Italian market scrap prices are more the result of predictions than the result of actual transactions. At the moment, prices are very near to the levels seen last April. Some sources think that such prices could soften further in July, while others think they could remain stable or even increase. What is sure is that prices will not sink to anywhere near the very low levels recorded in the early months of the current year.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 165-170 ($186-192/mt) |
HMS (E1/E3) | 185-195 ($209-220/mt) |
Shredded scrap (E40) | 200-215 ($226-243/mt) |
Busheling (E8) | 190-205 ($215-232/mt) |
Prices include delivery and exclude VAT.
€1 = $1.13