Scrap prices resume uptrend in Italy

As predicted, scrap prices have increased in the Italian domestic market after decreasing in early February compared to January. The ongoing uptrend is due to the increase in global scrap prices and the lower availability in the local market. One source commented that higher-quality scrap prices are under strong bullish pressure compared to prices of other categories, as they are required by mills which have better order books. Most sources believe that local prices will increase further in the coming week, especially if import scrap prices get closer to $500/mt CFR in Turkey. One question mark is represented mainly by the rebar market, which is still the weakest in Italy in terms of sales and prices. However, one local scrap trader said that lower-quality scrap prices will also have to rise as the gap compared to higher-quality materials cannot widen excessively.

Scrap prices in the Italian scrap market are at the following levels:

Prices include delivery and exclude VAT.