As reported previously, scrap prices in Italy have increased this month, regaining the levels seen in September, after decreasing moderately in October. According to market sources, the recent price increases are due to the fact that many Italian mills had postponed their scrap purchases in October in expectation of further price decreases in November. Currently, the mills' demand for scrap is strong, while scrap supply is not as strong, especially in the case of high quality material, which is the most in demand at the moment. According to sources, domestic scrap prices may increase further up to the end of November, though others think they may trend sideways.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
245-255 ($289-301/mt) |
|
HMS (E1/E3) |
265-280 ($313-330/mt) |
|
Shredded scrap (E40) |
295-305 ($348-360/mt) |
|
Busheling (E8) |
290-300 ($342-354/mt) |
Prices include delivery and exclude VAT.
€1 = $1.18