In the past week, domestic scrap prices in Italy have increased further, regaining the same levels that had been recorded in September this year. According to market sources, all Italian steel producers are seeking to buy scrap, while some local scrap traders are trying to take advantage of this situation by selling lower quantities. Nevertheless, the market situation appears calm in general, with a good equilibrium between supply and demand. Most local sources believe that scrap prices in Italy may trend upwards or sideways up to the end of November.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
245-250 ($284-290/mt) |
|
HMS (E1/E3) |
265-275 ($307-319/mt) |
|
Shredded scrap (E40) |
295-305 ($342-354/mt) |
|
Busheling (E8) |
290-300 ($336-348/mt) |
Prices include delivery and exclude VAT.
€1 = $1.16