This week, local scrap prices in Italy saw a further increase of €5/mt on average. According to sources, the main reason for the increases is the lack of raw material available. Moreover, although some mills are still working at a reduced pace due to high energy costs and very low orders for finished steel, almost all producers are buying. “Demand has risen compared to January and this is creating tension in the market,” commented one source.
According to some traders, scrap prices will rise significantly in the coming weeks. “Our purchase prices are high and there is little scrap available,” explained one trader. Others, however, have more moderate expectations. According to one market participant, “There is still room for increases, but the actual extent remains to be seen. Steel mills, for now, seem adamant that they do not want to grant large increases as they cannot pass on the energy and raw material costs to the finished product,” he said.
Quality |
Average spot price (€/mt) February 13 |
Average spot price (€/mt) February 6 |
| Turnings (E5) | 295-305 | 290-300 |
| HMS (E3) | 310-320 | 305-320 |
| Shredded scrap (E40) | 330-350 | 325-345 |
| Busheling (E8) | 330-345 | 330-345 |
Prices include delivery and exclude VAT.
After last week's rise, the local scrap market in Spain gained another €5/mt. As anticipated last week, the increase in local quotations partially offsets the increase in import prices, with the aim of maintaining a good inflow of raw material.
| Quality | Average spot price (€/mt) February 13 |
Average spot price (€/mt) February 6 |
| Turnings (E5) | 295-300 | 290-295 |
| Old steel scrap (E1) | 315-320 | 310-315 |
| HMS (E3) | 330-335 | 325-330 |
| Shredded scrap (E40) | 340-345 | 335-340 |
Prices include delivery and exclude VAT.