A slight rebound is expected in Italian scrap prices in the coming days. This is due to increasing imported scrap prices in Turkey which are beginning to signal a scrap price recovery internationally, Kallanish learns from market sources.

This is corroborated by one large mill increasing its scrap purchasing prices by €5/tonne ($6.1/t). Prices are seen recovering by €5-10/t by the end of February and remaining stable in March. Some sources suggest however, that March values may return to the peaks witnessed in January.

This week’s domestic prices in Italy show no significant change from last week. The mixed lower-quality E8 is at €305-310/tonne delivered, while the higher grade is at an average of €320/t delivered. Demolition qualities E1 and E3 are at €275/t and 265/t respectively, again on average. Shredded quality E40 is now at €310-320/t delivered, sources suggest.