As reported previously, local steel producers in Italy reduced their scrap purchase prices at the beginning of last week. Now it is confirmed that prices have decreased by €10-20/mt compared to September levels, both for domestic prices and for import prices (i.e., for material coming from France and Germany). Such decreases are due to the sharp drop in international scrap prices that was recorded between mid-September and the middle of last week, and also because of the increase of scrap supplies in the local Italian market. According to sources, scrap availability is still good, while demand coming from Italian mills is at decent levels.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
230-240 ($271-283/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