Further rise in local Italian scrap market

Scrap prices have increased further in the Italian domestic market in the past two weeks and, according to market sources, they could rise further by the end of the year.

Italian mills' scrap demand is described as being "very strong", while scrap allocation is lacking, as normally happens during bullish phases. "From here to the Christmas holidays, I foresee increasing prices and big supply problems," a trader commented. Other sources have pointed out that the trend of scrap prices in Italy has been helped in recent weeks by the recovery of international scrap prices. In the past month, the HMS I/II 80:20 price level for Turkey has risen by about $25/mt to $261/mt CFR, according to the SteelOrbis Daily Prices.

Average spot prices in the local Italian scrap market are as follows:

Prices include delivery and exclude VAT.