Prices have not changed in the local Italian scrap market compared to one week ago, in part due to the Easter holiday. However, sources say that the decline in international raw material prices is pushing Italian steelmakers to ask for price reductions. On the other hand, Italian scrap suppliers are unwilling to reduce their prices as they say scrap supply is not plentiful and that German suppliers are aiming to increase their prices by €15/mt. Accordingly, everyone is awaiting further developments.
However, most sources are inclined to believe that scrap prices will actually fall in Italy in the coming weeks due to the current lack of import scrap purchases in Turkey - which will affect international scrap prices - and due to the decline in local Italian rebar prices. Nevertheless, the anticipated resumption of rebar exports to Algeria may be the wildcard that could actually prevent Italian scrap prices from falling by significant margins or from falling at all.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Turnings (E5) |
210-225 ($225-241/mt) |
HMS (E1/E3) |
235-245 ($251-262/mt) |
Shredded scrap (E40) |
260-270 ($278-289/mt) |
Busheling (E8) |
250-255 ($268-273/mt) |
Prices include delivery and exclude VAT.
€1 = $1.07