During the past week, domestic scrap prices in Italy have again remained virtually stable, with only very slight adjustments compared to seven days ago. As reported previously, in past weeks the prices of high quality scrap, linked to the automotive and mechanical sectors, are stronger than prices of lower quality scrap, which have suffered more because of the slack sales of rebar and merchant bar. Meanwhile, supply and demand are well balanced in the local Italian scrap market. According to market sources, prices could trend sideways in July, and in any case there are no reasons to believe that there will be the same volatility that was recorded in the early months of the current year.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 200-215 ($222-239/mt) |
HMS (E1/E3) | 220-235 ($244-261/mt) |
Shredded scrap (E40) | 255-265 ($283-294/mt) |
Busheling (E8) | 250-260 ($278-289/mt) |
Prices include delivery and exclude VAT.
€1 = $1.11