The Italian scrap market has been trending up this month due to good demand on the one hand and scarce supply on the other. This last factor, various sources explained, is due local scrap traders not being willing to sell due to tax reasons as usually happens towards the end of the year. Compared to early November, when €20-35/mt increases had occurred, domestic scrap prices have risen by a further €35/mt on average. According to sources, further rises are expected before the Christmas break, and the gap between lower and higher quality scrap prices should narrow to normal levels. Scrap supply will become tighter in the coming month. “I plan to sell not more than 50 percent of my stocks in December. I consider this year as already concluded,” one trader commented.
Average spot prices in the local Italian scrap market have mostly trended sideways compared to November 4 and are as follows:
|
Quality |
Average spot price (€/mt) |
Change (4 Nov) |
|
Turnings (E5) |
350-370 |
+35 |
|
HMS (E3) |
380-400 |
+35 |
|
Shredded scrap (E40) |
450-460 |
+45 |
|
Busheling (E8) |
490-510 |
+25 |
Prices include delivery and exclude VAT.