According to market sources, the Italian scrap market is being influenced by opposing trends in the current month. On one hand, scrap demand should improve thanks to the resumption of production after the stoppages that occurred during the Easter holidays, providing support for scrap prices; on the other hand, the weakening of international scrap prices - with HMS I/II prices CFR Turkey decreasing by about $10/mt in the past ten days - is pushing Italian steelmakers to ask for a decrease in purchase prices.
For now, the prices of some scrap qualities have declined by €5/mt compared to the pre-holiday period, while shredded and busheling quotations have been mostly stable thanks to better demand. While a few market sources believe prices may decrease slightly during May, most market players think we will have to wait for a week or two in order to see how local scrap prices will settle.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Turnings (E5) |
220-230 ($246-258/mt) |
HMS (E1/E3) |
245-255 ($274-286/mt) |
Shredded scrap (E40) |
280-285 ($314-319/mt) |
Busheling (E8) |
285-290 ($319-325/mt) |
Prices include delivery and exclude VAT.
€1 = $1.12