Scrap prices in the local Italian market are still following a rising trend, with market players stating that are awaiting new increases which would align local Italian scrap prices with international prices for the raw material.
Scrap availability in Italy is currently low against the backdrop of quite good demand and low inventories held by Italian mills, while there have been no further offers following our last report two weeks ago, when shredded scrap offers were in the range of €210-220 /mt ($242-253/mt), delivered, while everyone knows that the new prices will be higher.
In the meanwhile, market sources state that, after further increases in scrap prices expected in May, the summer season is expected to begin on a downward price trend.
€1 = $1.15