Domestic scrap prices in Italy have indicated greater stability in the past week, with prices of some grades moving sideways, though prices of other grades have risen further. Sources among local traders have told SteelOrbis that, after the price increases recorded in the last three to four weeks, prices are now considered to be at good levels, while traders are happy with the volume of trade.
However, some steelmakers are still purchasing at prices which are slightly lower compared to the prices that are paid by others, and, accordingly, the price ranges for scrap in the market are fairly wide. Concerning the coming weeks, there is no sign that the scrap market will start to move down, but the future is uncertain as much will depend on the situation in the international scrap market.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 220-235 ($233-249/mt) |
HMS (E1/E3) | 235-250 ($249-265/mt) |
Shredded scrap (E40) | 275-285 ($292-302/mt) |
Busheling (E8) | 255-265 ($270-281/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06