According to the latest information collected by SteelOrbis, the scrap prices in the domestic market in Italy that were reported last Friday, January 30, have recorded increases at the start of the new week for some scrap categories and some steel producers, but the average price ranges are lower than indicated.
"It is possible that someone has agreed to pay more for higher HMS grades or for some extremely special material, or in case of urgent need to restock," a source at an Italian mill explained. "But these ranges are certainly not average," he concluded. "These are special prices paid by someone [mill] who was struggling with a low warehouse," a source at another local Italian producer said.
As a result, within HMS, average prices of E1 scrap in the Italian domestic market are standing at around €290-295/mt, but higher levels of around €10/mt have also been reported in the market, although in some special cases. For E3 scrap, on the other hand, the average price range stands at around €315-320/mt, even if - also in this case - scrap purchases at higher levels for special grades or extremely low stocks have been reported.
Therefore, SteelOrbis has revised its average reference range for E1/E3 scrap in Italy to €290-320/mt and will continue to monitor the market pending further updates.
All prices include delivery and exclude VAT.
