This week domestic steel producers in Italy have reduced their scrap purchase prices. The main reasons for this reversal of the previous trend are the significant increases seen in suppliers' scrap volumes and also the significant decrease in import scrap prices in Turkey. According to one source, "Scrap prices are the only leverage left to producers, given that their production costs are increasing due to the high cost of electrodes, of refractories and, soon, also of energy in the EU".
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
235-245 ($277-289/mt) |
|
HMS (E1/E3) |
250-265 ($295-313/mt) |
|
Shredded scrap (E40) |
280-295 ($330-348/mt) |
|
Busheling (E8) |
275-285 ($325-336/mt) |
Prices include delivery and exclude VAT.
€1 = $1.18