Local sources have described the Italian scrap market as quiet, stagnant and unresponsive. According to one local trader, domestic steel mills "are showing signs of being affected by the climate of alarmism due to the increase in infections from Covid-19", while "they also have adequate scrap stocks after having received material in the first weeks of October." As a result, in the past several days "they have kept buying the bare minimum", the trader said.
Local scrap prices in this context have not recorded any significant changes since October 9 and could remain stable even in the first 15 days of November. "I have greater optimism for the second half of next month," one trader commented, "also because I expect national scrap prices to be influenced by international prices for raw materials." On the positive side, according to the same source, so far local finished steel prices have not recorded significant decreases in Italy. Rebar prices in particular have not decreased below the €400/mt ex-works threshold since late August.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Shredded scrap (E40) |
235 - 245 |
Busheling (E8) |
240 - 250 |
HMS (E1/E3) |
215 - 230 |
Turnings (E5) |
200 - 215 |
Prices include delivery and exclude VAT.