In the Italian domestic scrap market, demand is currently at decent levels and in line with supply. After the slight corrections that were recorded at the beginning of July, local scrap prices have not decreased further. “Mills have stopped asking for price decreases, while scrap traders have given up ask for increases,” a source explained.
Meanwhile, some sources said they have begun to see a slackening of activities due to the upcoming holidays. “Some steel producers are saying they will stop their productions for a long period, but I believe everyone will stop for what is strictly necessary, that is for no more than two weeks,” a scrap trader told SteelOrbis. Domestic scrap prices should remain at current levels in the coming weeks.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
220-225 ($246-252/mt) |
|
HMS (E1/E3) |
240-245 ($269-274/mt) |
|
Shredded scrap (E40) |
260-265 ($291-297/mt) |
|
Busheling (E8) |
265-270 ($297-302/mt) |
Prices include delivery and exclude VAT.
€1 = $1.12