How will Italian scrap market move in February?

Tuesday, 29 January 2019 17:56:06 (GMT+3)   |   Brescia
       

Italian domestic scrap prices have once again trended sideways over the past week. Meanwhile, according to local sources, the scrap flows from local traders to steel mills have slowed down since the situation looks slack for finished steel sales and producers are waiting for more clarity regarding the implementation of EU definitive safeguard quotas. According to one source, some mills could even halt their production in the coming weeks. Currently, most sources believe that the recent increase of import scrap prices to Turkey and the weakness of the Italian finished steel market will result in a sideways trend or in very slight changes for Italian domestic scrap prices in February.

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

Quality

Average spot price (€/mt)

Turnings (E5)

225-235 ($257-268/mt)

HMS (E1/E3)

240-250 ($274-285/mt)

Shredded scrap (E40)

265-270 ($302-308/mt)

Busheling (E8) 

270-275 ($308-314/mt)

 

Prices include delivery and exclude VAT.

€1 = $1.14


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