After the period of stability seen during the month of January, the Italian scrap market has now stepped on the accelerator. Since the second week of February, quotations have increased by around €5-10/mt.
According to the market players who were interviewed, this upward movement is supported by the high levels of quotations in the international market.
In Europe, following the high levels recorded in January, further increases are being observed for March deliveries, especially in Germany, France and Spain.
Returning to Italy, both demand and supply of the raw material are at good levels. Internal scrap collection, indeed, is proceeding without obstacles, while the mills’ scrap stocks are at good levels. Scrap arrivals overland are regular and, as regards arrivals by sea, ships carrying material ordered in November/December are now in the ports.
Looking forward to the future, the majority of those interviewed said that they were expecting to see further upward movement in quotation levels.