According to market sources, local Italian domestic scrap market is still very quiet. Although domestic scrap prices in Italy have trended sideways in the current month's contracts as compared to September, market sources think that spot prices may soften in the coming weeks. In fact, as several steelmakers have plenty of scrap in their inventories, they have suspended scrap deliveries to their plants and are asking for price reductions. Accordingly, scrap prices could decrease by €5-10/mt in the coming weeks, though they have not changed over the past week.
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) |
260-270 ($302-313/mt) |
|
Shredded scrap (E40) |
295-300 ($342-348/mt) |
|
Busheling (E8) |
290-300 ($336-348/mt) |
Prices include delivery and exclude VAT.
€1 = $1.16