Local Italian scrap market stable, sentiment improving

This week, local scrap prices continued to remain stable in Italy. Sources describe a rather slow market, but optimism seems to be taking hold among traders.

Scrap prices remained unchanged over the past week as most Italian steel mills confirmed their scrap purchase prices. Traders report that there have been few contracts as most mills are fairly well supplied or have planned shutdowns. However, sources expect upward movements in the short term as the volumes of scrap available on the market are steadily decreasing. 'Some steel mills that have not purchased for a long time might increase €5-10/mt in the coming days to secure the material,' commented one source. In view of scrap shortage and the fact that flat prices seem to be close to hit bottom, some operators are hoping for even bigger increases: 'if steel mills resume full operation, there is not enough scrap for everyone’.

Prices include delivery and exclude VAT.

The Spanish scrap market remained stable again this week and market participants do not expect major changes in the short term.

Prices include delivery and exclude VAT.