After decreasing by €10-15/mt last week as compared to mid-January levels, domestic scrap prices in Italy have remained unchanged during the past week, settling in the price ranges given in the table below. Scrap demand is still at good levelsin the local Italian scrap market but scrap availability is high due to the fact that many local suppliers had held onto their material in November and December, while in January, when prices reached their peak, too much scrap came into the market compared to what was needed. Also, the decrease of local scrap prices was partially caused by the decrease of import scrap prices in Turkey starting at the end of December. Domestic scrap prices in Italy are expected to trend sideways or decrease slightly in the coming period.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
250-260 ($308-320/mt) |
|
HMS (E1/E3) |
270-280 ($332-344/mt) |
|
Shredded scrap (E40) |
300-305 ($369-375/mt) |
|
Busheling (E8) |
295-305 ($363-375/mt) |
Prices include delivery and exclude VAT.
€1 = $1.23