Domestic scrap prices in Italy have increased further during the past week. Market sources highlight that the bullish trend originates from the low availability of scrap and good demand coming from steelmakers.
As for the coming weeks, some market players are convinced that domestic scrap prices in Italy will rise further, while others think they will remain virtually unchanged. Meanwhile, market sources think that prices in the local Italian scrap market will probably decrease slightly in February. Much will depend on Turkish steel producers' scrap purchases and on the time needed for the renewal of rebar import licenses in Algeria.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 215-225 ($230-241/mt) |
HMS (E1/E3) | 235-240 ($251-257/mt) |
Shredded scrap (E40) | 250-265 ($268-284/mt) |
Busheling (E8) | 250-255 ($268-273/mt) |
Prices include delivery and exclude VAT.
€1 = $1.07