Local Italian scrap prices unchanged, stability or slight upticks expected in Feb

After last week's increase, local scrap prices in Italy have remained essentially stable over the past seven days. The market has entered a bullish phase, “but it is too early to know what the actual extent of the increases will be,” one source commented. The lack of raw material is one of the reasons for the increase in scrap prices, while in addition more steel mills have been active in the past week. According to market participants, demand for scrap exceeds supply at the moment.

As for February, market participants expect a stable or slightly rising market. “There seems to be cautious optimism among some producers,” one contact noted, “but one has to take into account the high energy costs that lead some steel mills to produce only at certain times of the day”.

Prices include delivery and exclude VAT.

Local Spanish scrap prices have also remained stable over the past week. Supply and demand continue to be balanced without being particularly lively, sources stated.

Prices include delivery and exclude VAT.