As expected, in the first week of March domestic scrap prices have gained ground in the Italian market, approaching the levels reached in January. Meanwhile, market sources believe that in March domestic scrap prices in Italy will reach and even exceed the price levels recorded in January. Market sources told SteelOrbis that prices have recovered due to the strength of domestic scrap demand, while supply is slightly weak after a few months in which scrap supplies were abundant. Since Italian steel mills are accelerating their production, market sources believe that local scrap prices could increase further in the coming weeks.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
260-270 ($322-335/mt) |
|
HMS (E1/E3) |
280-290 ($347-360/mt) |
|
Shredded scrap (E40) |
305-310 ($378-384/mt) |
|
Busheling (E8) |
305-315 ($378-391/mt) |
Prices include delivery and exclude VAT.
€1 = $1.24