In the Italian scrap market, supply and demand are essentially in equilibrium, with prices only indicating minor corrections compared to last week. Prices of heavy melting scrap (HMS) in Italy currently stand at €305-325/mt ($447-476/mt), while shredded scrap and busheling prices are at €340-350/mt ($498-512/mt) and €370-380/mt ($542-556/mt) respectively - with a peak of €390/mt ($571/mt) for high quality busheling. All prices are for delivery to customer.
Meanwhile, mills' scrap stocks are confirmed to be in the medium-to-low range, and any scrap buying activity is being postponed until after the short Easter holiday. On the other hand - and particularly for the long steel market - mills continue to face lackluster demand from end-users. In this context, market players consulted by SteelOrbis expressed two different viewpoints: some believe that scrap demand from steelmakers will recover in the coming weeks, while others remain more cautious.
As for the international market, in recent days it seems that the Turkish steelmakers have started to buy scrap again, preventing prices of both US and European scrap from decreasing further. Meanwhile, there has been an improvement in requests from buyers in Southeast Asia, which may lead Italian suppliers to turn their attention to export activity.
€1 = $1.464