The Italian scrap market is experiencing a phase of stability while waiting for the developments in the global market. While domestic scrap prices in the country recorded a slight decrease in May, during the few contracts that have been signed between scrap suppliers and buyers in the first days of this month, the prices have remained stable as compared to May. According to a market sources, scrap suppliers in France, Germany and Eastern countries seem willing to lower prices in the face of a good availability of scrap, while in Italy there is a certain lack of material. In the meantime, local scrap demand in Italy is not brilliant and while it is stronger from rebar producers, it is slack from other sectors, including special steels. In a context of substantial balance between supply and demand, Italian players in the scrap market are waiting for indications from the global market, where at the moment there is an almost absolute calm due to the absence of Turkish buyers due to the end-of-Ramadan holidays.
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) |
275-280 ($308-314/mt) |
|
Busheling (E8) |
280-285 ($314-319/mt) |
Prices include delivery and exclude VAT.
€1 = $1.12