Local Italian scrap prices follow diverse trends

Over the past week, the local Italian scrap market has indicated diverse trends. In fact, steel producers who have continued to buy scrap over the past month and who have good stock levels have kept their purchase prices unchanged, while those who did not purchase in December have announced an increase of €5-10/mt.

According to market participants, trading activity continues to be rather slow even though steel mills, now back from their holidays, are starting to purchase raw material again. In particular, steel producers who have continued to buy scrap over the past month and who have good stock levels have kept their purchase prices unchanged, while those who did not purchase in December have announced an increase of €5-10/mt.

Uncertainty remains as to how scrap prices will trend in the coming weeks. The situation in the finished steel market does not seem to be particularly favourable at the moment because of the shortage of new orders, the difficulty in raising selling prices and soaring energy prices at the beginning of the year. Another decisive factor will be the availability of scrap, which, according to market participants, is already rather low.

Another decisive factor will be the availability of scrap, which, according to market participants, is already rather low. “There is little material to collect and we have difficulties with supply. It is possible that this shortage will affect scrap prices in February,” commented one trader. Another source agreed, stating, “There is little material and it is expensive. Also, the collection prices for new scrap are high as it is very scarce.”

Prices include delivery and exclude VAT.

Prices in the local scrap market in Spain have remained largely unchanged over the past month, registering only a €5/mt increase for HMS and shredded. According to market participants, demand for scrap from steel mills continues to be stable, though not particularly buoyant.

Prices include delivery and exclude VAT.