This month, domestic scrap prices in Italy may recoup the decrease they suffered in January, according to local market players. Negotiations on monthly scrap contracts are underway this week between scrap traders and steel mills and, according to market sources, several mills have already pushed up prices by a margin equal to half of last month's decrease (which was at least €20/mt). The recovery is attributed to the good demand from mills and to the ongoing increase in import scrap prices in Turkey, and the increases in international raw material prices in general. The situation will become clearer in the coming days; until then, prices are still at last week's levels.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
225-235 ($257-268/mt) |
|
HMS (E1/E3) |
240-250 ($274-285/mt) |
|
Shredded scrap (E40) |
265-270 ($302-308/mt) |
|
Busheling (E8) |
270-275 ($308-314/mt) |
Prices include delivery and exclude VAT.
€1 = $1.14