During the past seven days, domestic scrap prices in Italy have taken a break from their upward trend which had started in the middle of October, with some downward adjustments recorded.
In the past week, domestic prices for turnings have moved from €200-210/mt to €200/mt on average, while prices of HMS and shredded grade scrap have softened by €5/mt on the upper end to €220-225/mt and €230-235/mt, respectively. Also, domestic offers for busheling grade scrap have moved from €230-235/mt to €230/mt on average. All prices are delivered to customer and VAT excluded.
Market sources state that low purchasing activity by Turkish mills is the main reason for the declines seen in domestic scrap quotations in Italy. If there is no sudden change in Turkish mills' purchasing activity, then the situation in the local Italian scrap market will not change significantly during the next couple of weeks.
Average spot prices in the local Italian scrap market are as follows:
| Quality | Average spot price (€/mt) |
| Turnings (E5) | 200 ($214/mt) |
| HMS (E1/E3) | 220-225 ($235-241/mt) |
| Shredded scrap (E40) | 230-235 ($246-249/mt) |
| Busheling (E8) | 230 ($246/mt) |
Prices include delivery and exclude VAT.
€1 = $1.07