Last week, local Italian scrap prices trended sideways despite scarce demand from steelmakers. Current average prices are as follows:
Quality |
Average price |
|
27 Jul (€/mt) |
20 Jul (€/mt) |
|
HMS |
270-285 ($332-351/mt) |
270-285 ($332-351/mt) |
Shredded scrap (E40) |
300-310 ($369-381/mt) |
300-315 ($369-387/mt) |
Busheling (E8) / (E8C) |
290-310/315 ($357-381/387/mt) |
295-305/310 ($363-375/381/mt) |
*Prices are for delivery to customer and exclude VAT
Scrap suppliers consulted by SteelOrbis are divided in two groups as regards forecasts for September. On the one hand, those who do not believe prices will increase when steelmakers reignite their electric furnaces are willing to sell off their materials even below cost level. On the other hand, other scrap suppliers state that in late August/early September scrap prices will indicate their seasonal uptick, even if this may just be a temporary upward movement.
Anyway, all scrap suppliers say that the market is ‘closed for holidays' because most Italian steelmakers will halt production starting from the end of July until the last week of August. During July, the domestic scrap market trended down in the first two weeks of the month, while prices stood still in the second part of the month.
€1 = $1.23