Posted on 19 Dec 2019
Italian scrap prices have flattened out this week after a very sharp increase in December, market sources tell Kallanish.
Demand is now slowly fading as mills will shut down this Friday for the Christmas holiday and will resume production on 7 January.
January prices however are seen resuming the upward trend seen in December as Turkish scrap values continue to rise. Moreover, there is a shortage of scrap supply in Italy as some mills have found themselves with empty scrap yards this month, market contacts suggest. January prices are seen rising by a further €20/tonne ($22/t), sources believe.
Domestic shredded scrap grade E40 has reached a level of €270/t delivered while E8 new arisings mixed grade is at €260-265/t delivered with €270/t being paid for the higher grade. Demolition grades are at €250-260/t delivered for E1 and €10/t less for E3.
