SteelOrbis has been informed that Italian EAF-based mills will work longer than usual during December against the backdrop of the forecast increase in energy tariffs in the first quarter of 2017 due to the closure of three nuclear power plants in France. As a result, the usual Christmas holiday at the Italian mills is expected to be shorter than in previous years. Market sources state that in relation to scrap prices much will depend on Turkish mills who have slowed down their purchases since mid-November. Domestic scrap prices in Italy are expected to remain stable unless Turkish mills resume their purchasing activities. In this event, scrap quotations in the local Italian market may increase by €10/mt.
Average spot prices in the local Italian scrap market, where prices have increased by €5-10/mt since mid-November, are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 200-210 ($212-223/mt) |
HMS (E1/E3) | 220-230 ($233-244/mt) |
Shredded scrap (E40) | 230-240 ($244-254/mt) |
Busheling (E8) | 230-235 ($244-249/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06