No change of situation has been recorded in the Italian scrap market in the past week. As reported previously, prices increased slightly in the monthly contracts concluded at the beginning of March, while currently in the spot market Italian steelmakers are buying low volumes with very short delivery times. Due to the strong uncertainty concerning finished product sales, several steel producers have decreased their production and so scrap demand is currently low. As for the coming month, some sources believe that more than one steel producer will use local holidays to further reduce their outputs.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
230-240 ($262-274/mt) |
|
HMS (E1/E3) |
255-265 ($291-302/mt) |
|
Shredded scrap (E40) |
280-290 ($319-331/mt) |
|
Busheling (E8) |
285-295 ($325-340/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14