According to sources, domestic scrap prices in Italy could decrease in the coming month. While prices have remained stable in monthly contracts, new spot contracts have indicated a €2.5-5/mt decrease in the past week.
According to sources, the Italian scrap market has lost the euphoria of the first days of March because, although demand has remained generally good - especially from quality steel producers - it has been surpassed by supply. Meanwhile, recent news, including the lack of scrap demand from Turkey and the risks of a global trade war, are casting some shadows on the market. However, current predictions point to a moderate fall in scrap prices in the Italian market in April, with sources anticipating decreases of €5-10/mt.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
260-265 ($322-329/mt) |
|
HMS (E1/E3) |
275-285 ($341-353/mt) |
|
Shredded scrap (E40) |
305-315 ($378-391/mt) |
|
Busheling (E8) |
310-315 ($384-391/mt) |
Prices include delivery and exclude VAT.
€1 = $1.24