As reported early last week, domestic scrap prices in Italy had increased by €15/mt compared to the price levels recorded in December. However, the market is still turbulent and the situation is still mutating. In some cases, Italian scrap suppliers have requested prices that were not acceptable to local steel producers.
Domestic scrap prices in Italy are expected to settle early this week. Looking ahead, some sources have misgivings about the likely continuation of the current bullish trend of the local Italian scrap market as they point out that negative signals are coming from the international scrap market due to the downward pressure that Turkish buyers have been exerting on import scrap prices.
Average spot prices in the local Italian scrap market are as follows:
Quality | Average spot price (€/mt) |
Turnings (E5) | 210-220 ($223-233/mt) |
HMS (E1/E3) | 235-240 ($249-254/mt) |
Shredded scrap (E40) | 245-255 ($260-270/mt) |
Busheling (E8) | 245-250 ($260-265/mt) |
Prices include delivery and exclude VAT.
€1 = $1.06