As reported previously, scrap domestic prices in Italy have increased by €10-15/mt on average this month, regaining slightly more than half of what they lost in January, thanks to decent demand and the increase of global raw material prices. Currently, according to market sources, Italian steel mills are reluctant to grant further price increases, and flows between scrap traders and buyers have decreased significantly recently.
Meanwhile, according to scrap traders, scrap availability has decreased as well. Steel mills that are now opposing further price increases will need to buy scrap in March. Accordingly, sources believe that the strengthening of demand, together with limited scrap availability, could result in price increases in the coming month.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
230-240 ($260-271/mt) |
|
HMS (E1/E3) |
250-260 ($283-294/mt) |
|
Shredded scrap (E40) |
275-280 ($311-316/mt) |
|
Busheling (E8) |
285 ($322/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14