After decreasing by about €20/mt in the previous week compared to January, domestic scrap prices in Italy have mainly trended sideways in the past week. According to market sources, the recent increase in import scrap prices in Turkey is already having an impact on European domestic scrap prices.
According to the sources, in Italy on Thursday and Friday (Feb. 9-10) last week there was a realignment of local prices. In other words, those buyers who had reduced scrap purchase prices by more than €20/mt had to increase their prices by €5-10/mt. This is seen as a positive signal, but all in all local scrap prices in Italy have remained stable compared to last week. Sources think that domestic scrap prices in Italy may increase in the coming period as the likely reprise of rebar export activities from Italy to Algeria should affect positively the Italian scrap market.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 190-200 ($201-212/mt) |
HMS (E1/E3) | 210-220 ($223-233/mt) |
Shredded scrap (E40) | 230-240 ($244-254/mt) |
Busheling (E8) | 220-235 ($233-249/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06