According to sources, the local Italian scrap market has generally continued its sideways trend seen since mid-April. Local scrap prices are virtually stable, excepted for some slight decreases of a maximum of €5/mt week on week on the higher ends of lower quality scrap prices. Prices of high quality scrap are stable thanks to the higher demand coming from mechanical and automotive industries. Sources state that in general steel mills' demand for scrap is at good levels, while both buyers and suppliers are aiming to keep the current price situation unchanged.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 210-220 ($229-240/mt) |
HMS (E1/E3) | 235-240 ($256-262/mt) |
Shredded scrap (E40) | 260-270 ($283-294/mt) |
Busheling (E8) | 250-255 ($273-278/mt) |
Prices include delivery and exclude VAT.
€1 = $1.09