Scrap prices have decreased further in the Italian domestic market and could decline also in October, although at a slower pace, according to market sources. The latest decreases have been due once again to the downtrend of international scrap prices and to weak scrap demand, especially from local Italian flat steel and specialty steel producers. According to the market sources, further declines could be witnessed in October, though they should not be as significant as they were in September since several scrap suppliers are refusing to offer material at such low prices. Accordingly, supply and demand could be more balanced than in the current month. In any case, no significant improvements are expected in finished steel demand, and so a recovery in scrap prices is definitely “out of the question", according to the market sources.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Turnings (E5) |
190-195 ($207-213/mt) |
HMS (E1/E3) |
200-210 ($218-229/mt) |
Shredded scrap (E40) |
230-235 ($251-256/mt) |
Busheling (E8) |
220-230 ($240-251/mt) |
Prices include delivery and exclude VAT.
€1 = $1.09