After a very quiet month in terms of sales and purchases, the Italian domestic scrap market may record price increases in November or, at least, this is what local scrap traders are hoping. After import scrap prices in Turkey recorded a slight increase recently, Italian scrap traders are seeking to increase their sale prices. However, local steelmakers are opposed to any increase, as they are still complaining about a certain lack of sales (especially long steel producers). Due to local festivities in Italy from November 1 to the end of this week, sources say that local scrap prices will not settle until next week. Their price trend is still uncertain and will depend on the actual tension between supply and demand. For the moment, domestic scrap prices have been trending sideways in the past week.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
245-250 ($282-288/mt) |
|
HMS (E1/E3) |
260-270 ($299-311/mt) |
|
Shredded scrap (E40) |
285-295 ($328-339/mt) |
|
Busheling (E8) |
285-295 ($328-339/mt) |
Prices include delivery and exclude VAT.
€1 = $1.15