Domestic scrap prices in Italy have mostly increased by €5/mt this month thanks to good demand. While in June, prices in question had decreased slightly due to a surplus of 200,000 mt that originated from some disruptions of steel production, this month several local mills have low scrap supplies and plenty of orders for their finished products. For this reason, sources predict that summer stoppages will be slightly shorter than last year's average of three weeks. Accordingly, domestic scrap prices in Italy may increase further by a slight margin in the coming weeks, i.e., before the beginning of the summer holiday production stoppages, that usually start at the beginning of August.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
250-260 ($290-302/mt) |
|
HMS (E1/E3) |
275-285 ($319-331/mt) |
|
Shredded scrap (E40) |
305-310 ($354-360/mt) |
|
Busheling (E8) |
300-310 ($348-360/mt) |
Prices include delivery and exclude VAT.
€1 = $1.16