As predicted, the lower availability of scrap in the Italian domestic market has led to slight increases in most scrap prices in the first week of the current month. Local market sources have stated that several domestic mills have been willing to pay slightly higher prices, and that demand is higher for busheling scrap and HMS scrap. Meanwhile, turnings prices have trended sideways due to lower demand. According to some market sources, scrap prices should remain at current levels in the coming weeks, while according to other sources they could indicate further slight rises due to factors including lower supply, the trend of finished product sales - that could increase with the approach of the spring season, and due to the ongoing trend of international raw material prices.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
230-240 ($260-271/mt) |
|
HMS (E1/E3) |
255-265 ($288-299/mt) |
|
Shredded scrap (E40) |
280-290 ($316-328/mt) |
|
Busheling (E8) |
285-290 ($322-328/mt) |
Prices include delivery and exclude VAT.
€1 = $1.13