Slight rise in local Italian scrap market

Although several steel mills and scrap traders are closed until next Monday due to the Labour Day holiday, local scrap prices in Italy have risen by €5-10/mt in some spot deals closed this week. According to sources, some producers who had so far resisted the increases have adjusted to the market prices, while others have raised them slightly out of necessity and in anticipation of larger increases in May. Further increases are in fact taken for granted by market sources due to the continuing shortage of scrap. All market participants are waiting for news on how demand for finished products will evolve in the short term, to understand the likely extent of the increases in raw material prices.

Prices include delivery and exclude VAT.