This week, market sources confirmed the ongoing upward trend of Italian domestic scrap prices. While domestic scrap prices had increased by €5/mt one week ago, in the past seven days they have risen by €5/mt on the lower end, while remaining stable on the upper end. Looking ahead, some sources believe that in November local scrap prices in Italy will increase by a further €10/mt, while others believe they could increase even further, thanks to good demand from Italian steelmakers, and also because some small local scrap suppliers may adopt a speculative stance and reduce their supplies to the market. In any case, as always, the trend of domestic scrap prices will depend a lot on the trend of international scrap prices.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
240-245 ($278-284/mt) |
|
HMS (E1/E3) |
260-270 ($302-313/mt) |
|
Shredded scrap (E40) |
290-295 ($336-342/mt) |
|
Busheling (E8) |
285-290 ($331-336/mt) |
Prices include delivery and exclude VAT.
€1 = $1.16