According to market sources, the situation in the Italian domestic scrap market has not changed since last week. Although some local traders had the feeling that prices could increase, there seems to be no room for increases, nor for decreases. According to the sources, availability of scrap is good, while local long steel producers, which are still facing low demand, are not in a hurry to purchase scrap. The market sources said that everyone is waiting for developments regarding the sale of Ilva in the domestic market and regarding tariffs and other economic and political developments globally.
Finally, prices of scrap imported to Italy from Germany and France are higher compared to domestic prices, mostly due to the effect of several upcoming festivities in northern Europe, that will have an impact on scrap deliveries, as stated by market sources.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
255-260 ($303-309/mt) |
|
HMS (E1/E3) |
275-280 ($327-333/mt) |
|
Shredded scrap (E40) |
305 ($363/mt) |
|
Busheling (E8) |
300-305 ($357-363/mt) |
Prices include delivery and exclude VAT.
€1 = $1.19