Local Italian scrap market stable, sentiment improving

Friday, 12 April 2024 10:10:20 (GMT+3)   |   Brescia
       

This week, local scrap prices continued to remain stable in Italy. Sources describe a rather slow market, but optimism seems to be taking hold among traders.

Scrap prices remained unchanged over the past week as most Italian steel mills confirmed their scrap purchase prices. Traders report that there have been few contracts as most mills are fairly well supplied or have planned shutdowns. However, sources expect upward movements in the short term as the volumes of scrap available on the market are steadily decreasing. 'Some steel mills that have not purchased for a long time might increase €5-10/mt in the coming days to secure the material,' commented one source. In view of scrap shortage and the fact that flat prices seem to be close to hit bottom, some operators are hoping for even bigger increases: 'if steel mills resume full operation, there is not enough scrap for everyone’.

Quality  

Average spot price (€/mt)
April 12

Average spot price (€/mt)
April 5

Turnings (E5)  

320-335

320-335

HMS (E3)  

350-365

350-365

Shredded scrap (E40)  

365-395

365-395

Busheling (E8)   

370-390

370-390

Prices include delivery and exclude VAT.

The Spanish scrap market remained stable again this week and market participants do not expect major changes in the short term.

Quality  

Average spot price (€/mt)
April 12

Average spot price (€/mt)
April 5

Turnings (E5)  

315-320

315-320

Old steel scrap (E1)  

335-340

335-340

HMS (E3)  

350-355

350-355

Shredded scrap (E40)  

360-365

360-365

Prices include delivery and exclude VAT.


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