In the past week, prices of higher quality scrap in the local Italian market have indicate further increases, following the rises seen in Italian scrap prices in the early days of March, and so scrap prices in Italy have now fully regained the ground lost in terms of prices during the month of February. Currently, demand in the domestic scrap market is still at good levels and is in equilibrium with scrap availability.
Meanwhile, Italian scrap market players are also trying to foresee the effects of the US duties on steel imports. Among the first consequences of the measure, there will likely be an increase in steel production in the US market and consequently an increase in scrap demand, resulting in reduced scrap export volumes from the US. The resulting shortage of scrap volumes in the international market could lead to higher scrap prices in the coming period, said market sources
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
260-270 ($317-335/mt) |
|
HMS (E1/E3) |
280-290 ($347-360/mt) |
|
Shredded scrap (E40) |
310-315 ($384-391/mt) |
|
Busheling (E8) |
310-315 ($384-391/mt) |
Prices include delivery and exclude VAT.
€1 = $1.24