Domestic scrap prices in Italy are still generally increasing but the situation remains a bit confused since some steel producers have raised their purchase prices, while others have not yet aligned themselves with the higher prices.
According to sources, domestic scrap prices may increase further depending on the trend of international scrap quotations. Currently, two factors are pushing European scrap prices upwards. Firstly, import scrap prices in Turkey, after moving sideways towards the end of February, are now moving up once again. Secondly, pig iron offers have increased significantly due to maintenance works in Russia and the blockade of the rail system in Ukraine. However, these latter issues may be resolved in the short term.
Meanwhile, Italian producers' finished steel sales volumes are still at very low levels, especially for rebar, because Italian rebar exports to Algeria are still blocked as the market is waiting for the release of import licenses in this country.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 215-230 ($228-244/mt) |
HMS (E1/E3) | 235-250 ($249-236/mt) |
Shredded scrap (E40) | 250-265 ($265-281/mt) |
Busheling (E8) | 255-265 ($270-281/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06