Scrap prices have decreased further in the Italian domestic market compared to January 29, on the back of the decreasing trend of international scrap prices and the weakening of local finished steel demand. However, sources polled by SteelOrbis agree in thinking that there are signs of a price stabilization or even of a trend reversal in the coming period, such as better sentiment in the Turkish scrap market and the forecast improvement of the situation in China after the New Year holiday. As for the Italian domestic market, scrap demand is moderate according to some, and not strong according to others, while all market sources agree that supply is lower than last month. Several local scrap suppliers have said that so far not many monthly contracts have been closed for February, but they should be closed by the end of this week.
Scrap prices in the Italian scrap market are at the following levels:
|
Quality |
Average spot price (€/mt) |
Change |
|
Turnings (E5) |
280-305 |
-17,5 |
|
HMS (E1/E3) |
310-325 |
-5 |
|
Shredded scrap (E40) |
335-350 |
-5 |
|
Busheling (E8) |
335-345 |
-7,5 |
Prices include delivery and exclude VAT.