The Italian scrap market has entered the month of November in the same way as it ended October - very quietly and without price variations. Sources interviewed by SteelOrbis explained that, due to lower availability of high quality scrap and the recent rise in international scrap prices, local traders have been asking for higher prices, while on the other hand steel mills have requested price decreases, in particular due to the stagnation of rebar demand.
According to sources, this "tug of war" should result in a sideways trend this month, unless special developments occur. Meanwhile, according to market sources, scrap suppliers from northern Europe - especially from Germany - are seeking to increase their prices to Italian mills due to the increase in logistic costs (caused by low water levels in the Rhine and Danube rivers) and the good volumes sold to Turkey, but no new contracts have been signed yet.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
245-250 ($279-285/mt) |
|
HMS (E1/E3) |
260-270 ($296-308/mt) |
|
Shredded scrap (E40) |
285-295 ($325-336/mt) |
|
Busheling (E8) |
285-295 ($325-336/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14