Mood in local Italian scrap market becomes more cautious

While last week local sources reported some increases of up to €20/mt in domestic scrap prices in Italy compared to last month's levels, this week market players are more cautious about making general predictions for such increases. Only a few mills have accepted the increase in question in their purchase prices, and only because their purchase prices were already lower than the average price levels.

Meanwhile, negotiations between several scrap traders and steel mills are still continuing, with the latter willing to accept the biggest price increases only for prime quality scrap (such as busheling), which is more in demand than the other scrap grades. Nevertheless, local scrap prices have increased compared to last month, due to the recent rise in import scrap prices in Turkey, and the increases in international raw material prices in general. According to market sources, local scrap prices could increase further in the coming days, or stabilize at current levels.

Average spot prices in the local Italian scrap market are as follows:

Prices include delivery and exclude VAT.

€1 = $1.13