December will be another month of stability for Italian domestic scrap prices, according to sources interviewed by SteelOrbis. In the monthly contracts concluded between local steel mills and scrap traders, scrap prices have trended sideways as compared to November. Sources explained that, while international raw material prices decreased in November, scrap prices in Italy have been supported by two factors: on one hand, steel producers' willingness to stock up as much as possible before the Christmas holidays, and ,on the other hand, the fact that many scrap suppliers have held back their sales due to fiscal reasons. This has led to a sideways trend in prices instead of a downward trend.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
245-250 ($277-283/mt) |
|
HMS (E1/E3) |
260-270 ($294-305/mt) |
|
Shredded scrap (E40) |
285-295 ($322-333/mt) |
|
Busheling (E8) |
290-295 ($328-333/mt) |
Prices include delivery and exclude VAT.
€1 = $1.13