Local scrap prices have increased by €10-15/mt in the Italian market compared to early December. According to market sources, the upward trend has been due to good demand which in turn has been determined by the resumption of production activities after the Christmas holidays. In particular, SteelOrbis has learned that on January 2 the newly-replaced furnace of Cremona-based Acciaieria Arvedi, a major scrap consumer, started operating.
Domestic scrap prices were also supported by the trend of international scrap prices, with HMS I/II 80:20 prices remaining virtually stable in Turkey during the holidays. According to market sources, the situation now looks calmer in terms of activity in the Italian scrap market as several local mills have sufficient scrap stocks and so are not in any rush to place orders.
Looking ahead, most sources do not expect significant price changes in February. However, much will depend on the finished steel market, which is still rather weak, and on the trend of international prices. Import scrap prices have already started to decrease in Turkey and this could negatively affect sentiment in the Italian scrap market.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
Price change (€/mt) |
|
Shredded scrap (E40) |
260-270 |
+15 |
|
Busheling (E8) |
260-270 |
+15 |
|
HMS (E1/E3) |
240-250 |
+10 |
|
Turnings (E5) |
225-230 |
+15 |
Prices include delivery and exclude VAT. Price changes are as compared to December 13.