Local scrap prices in Italy have trended sideways in the past week, while a lot of uncertainty exists in the market. On the one hand, local scrap suppliers are still expecting significant price increases, as they were in September, while on the other hand local mills are pushing for price decreases, citing adequate stock levels, and the fact that local steelmaker Arvedi's scrap consumption is low as it is still in the ramp-up phase of its newly-substituted EAF.
Moreover, import scrap prices have decreased in Turkey in the past weeks. However, according to some Italian scrap suppliers, "The mills that are cutting their purchasing prices by €5/mt are making a mistake," as a reversal could be witnessed by the end of October, also on the back of "possible signs of a revival in Turkey, where mills will need to buy scrap for November and December shipments." Local scrap prices are stable compared to one week ago, except for turnings prices, which have increased slightly on the back of low supply.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Price change (€/mt) |
Shredded scrap (E40) |
235 - 245 |
0 |
Busheling (E8) |
240 - 250 |
0 |
HMS (E1/E3) |
215 - 230 |
0 |
Turnings (E5) |
200 - 210 |
+2.5 |
Prices include delivery and exclude VAT. Prices are compared to a week ago.