Scrap prices to recover in Italy in February

February will be a month marked by a recovery, according to most players in the Italian scrap market. "It is still too early to make accurate forecasts, but it seems that the price losses seen in January will be recovered,” one local trader said. The same source added, “Local steel mills have yet to increase their production, as they are suffering from absences due to Covid. However, purchasing offers are being heard already. In the first negotiations for some niche material, I am pushing for December prices.” Meanwhile, there does not seem to be much scrap in circulation. "Supply is scarce. At the moment no one is selling because price increases are expected," another source commented.

For now, average spot prices in the local Italian scrap market are as follows:

Prices include delivery and exclude VAT.