After increasing slightly at the beginning of March, domestic scrap prices in Italy have since indicated a stable trend, though demand has remained at low levels due to the weakness of the finished steel market, market sources have told SteelOrbis. However, the market situation should remain in equilibrium in the coming few weeks. It could change in the second half of April, though, when several stoppages are being planned by Italian steel mills that will use local holidays to reduce their outputs. If finished steel sales do not improve after this period, market sources believe that bearish pressure on local scrap prices will intensify.
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) |
255-265 ($288-300/mt) |
|
Shredded scrap (E40) |
280-290 ($316-328/mt) |
|
Busheling (E8) |
285-295 ($322-333/mt) |
Prices include delivery and exclude VAT.
€1 = $1.13