Domestic scrap prices in Italy have been stable in the past few weeks after increasing moderately at the beginning of the current month due to strong demand and relatively scarce supply. Now all buyers seem willing to keep current price levels stable, and this choice is confirmed by the trend of finished steel prices as well. However, market sources do not exclude the possibility that prices may increase slightly in December, especially due to two factors: steelmakers' need for scrap, and the fact that lots of small scrap suppliers may stop selling due to fiscal reasons, as they will have to pay higher taxes if their annual turnover exceeds a certain level.
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) |
270-280 ($319-330/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