While prices in the Italian scrap market started 2011 with increases, in the last 10 days of January the Italian scrap market has seen a correction, with a gradual decrease in offer levels. In other words, compared to two weeks ago - when market players were rather optimistic - the market environment has changed. Prices are expected to decrease further in the coming weeks, declining to the levels seen at the end of 2010.
Italian business is increasingly being influenced by the global market developments, particularly by the political turmoil in North Africa, and especially Egypt. These markets represent important hubs for trading of scrap as well as rebar.
Currently, Italian HMS offers are at €310-340/mt, shredded scrap offers are at €350-360/mt, while busheling offers stand at €360-370/mt, for delivery to customer and depending on the buyer and the product features.