In the Italian domestic market, the latest scrap purchase prices have recorded further slight decreases of around €5/mt ($7/mt) since the start of October. The latest prices are presented in the following table:
Quality |
Average price |
|
12 Oct (€/mt) |
01 Oct (€/mt) |
|
Turnings (E5) |
225-245 ($293-319/mt) |
n/a |
HMS |
245-270 ($319-351/mt) |
250-270 ($325-351/mt) |
Shredded scrap (E40) |
280-290 ($364-377/mt) |
285-295 ($371-384/mt) |
Busheling (E8) / (E8C) |
280-290 / 295 ($364-377/384/mt) |
280-290 / 295 ($364-377/384/mt) |
*Prices are for delivery to customer and exclude VAT
From early September to early October, ex-EU scrap import prices in Italy fell by €30-40/mt ($39-52/mt), while Italian domestic prices went down by €25-35/mt ($33-46/mt), according to the quotations recorded by SteelOrbis. In both cases, the reductions were quite significant. Therefore, due to the high volatility recorded in the Italian market some scrap suppliers are willing to sell off their in-stock material at lower prices, while in other cases scrap traders are more reluctant to lower their prices to the levels sought by steelmakers. In this market environment, demand is concentrated on low grade scrap and therefore the price range for steel turnings and for heavy melting scrap (HMS) is quite wide compared to other categories. Meanwhile, supply and demand are basically well balanced at low levels.
Most market insiders consulted by SteelOrbis believe that the current month will draw to an end at current price levels, although eveybody's eyes are focused on the finished steel market trend due to its immediate impact on the raw material market.
€1 = $1.30