Domestic scrap prices in Italy have remained stable during the past week, i.e., at the maximum levels year-to-date. Meanwhile, the market is quiet due to the approach of the Christmas holidays and the end of the year. According to SteelOrbis, most local Italian scrap traders expect prices to increase by €10-15/mt in January, while local steel producers are more inclined to a confirmation of the current price levels, or to just slight price increases. As reported previously, Italian mills' scrap demand should remain at good levels into the new year. Meanwhile, in the global scrap market, import scrap prices have risen further in Turkey, but Turkish mills' demand has decreased lately, and so it is hard to predict what will happen in January and how any development will affect scrap prices in Italy.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
260-270 ($307-319/mt) |
|
HMS (E1/E3) |
280-290 ($330-342/mt) |
|
Shredded scrap (E40) |
300-310 ($354-366/mt) |
|
Busheling (E8) |
295-305 ($348-360/mt) |
Prices include delivery and exclude VAT.
€1 = $1.18