No significant changes have been recorded in the Italian scrap market compared to June 10. According to local sources, scrap demand is low as "domestic mills are not working much due to low finished steel demand". However, there is a fine balance between local supply and demand. "Supply is low, while newly produced scrap is also still lacking due to slow manufacturing activity," underlined a local scrap trader. In this context, local scrap prices have trended sideways. According to the same source, it is hard to predict the future price trend, although it is more likely that a recovery will be witnessed only in September, after the usual summer holidays, when local steel production may also be stronger.
Average spot prices in the local Italian scrap market are as follows:
Quality |
Average spot price (€/mt) |
Price Change (€/mt) |
Shredded scrap (E40) |
230 - 250 |
- |
Busheling (E8) |
240 - 250 |
- |
HMS (E1/E3) |
210 - 225 |
- |
Turnings (E5) |
190 - 200 |
- |
Prices include delivery and exclude VAT. Price changes were calculated as compared to June 10.