After decreasing by approximately €20/mt as compared to last month, Italian domestic scrap prices have trended sideways over the past week. Demand from local mills is still decent, and so some market sources believe that scrap prices will not decrease further next month. According to the sources, another reason why scrap prices could trend sideways in February is the fact that many monthly scrap contracts were concluded at the end of last week; and consequently, scrap deliveries will continue until mid-February in some cases, delaying the placing of new scrap orders by mills. Moreover, while scrap import prices to Turkey have recently increased slightly, finished steel prices are still weak in Italy, with rebar prices gradually decreasing in the domestic market. As a result, market sources do not expect to see increases in local scrap prices.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
225-235 ($257-268/mt) |
|
HMS (E1/E3) |
240-250 ($274-285/mt) |
|
Shredded scrap (E40) |
265-270 ($302-308/mt) |
|
Busheling (E8) |
270-275 ($308-314/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14