In the past week, domestic scrap prices in Italy have trended sideways. The market is 'closed for holidays' as most Italian steelmakers have halted their production and will not resume it until the last week of August. Therefore, scrap demand from Italian mills has decreased significantly. Moreover, since the market was quiet earlier than usually, i.e., in the first days of August, some scrap traders have gone on holiday in advance, so the market is practically inactive. In this environment, it is unlikely that domestic scrap prices in Italy will show anything other than a sideways trend before September. According to traders, domestic scrap prices may show a slight recovery right after the return from the holidays, when Italian steel producers should increase their demand for scrap.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
250-260 ($290-302/mt) |
|
HMS (E1/E3) |
275-285 ($319-331/mt) |
|
Shredded scrap (E40) |
305-310 ($354-360/mt) |
|
Busheling (E8) |
300-310 ($348-360/mt) |
Prices include delivery and exclude VAT.
€1 = $1.16