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Kallanish Kallanish

Knowledge matters Knowledge matters

March, 19th 2019

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MAR 13
09:48

Italian scrap values rise but volumes stay low

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Italian scrap prices are gaining momentum with a further €5/tonne ($5.6/t) increase having been achieved compared to last week. This is in line with rising Turkish and consequentially German transactions, Kallanish hears from market sources.

However, demand remains an issue in the domestic market. While February was a bad month for sales volumes, merchants have seen an improvement so far in March but volumes are still not satisfactory. Margins remain low despite the price increases because merchants are paying more to their suppliers. At the current purchasing and selling prices new arisings E8 grade has no margin for merchants, Kallanish hears. Italian mills are ordering minimum quantities and the market is considered extremely difficult.

New arisings E8 this week is at €290-295/t for the mixed quality and €10/t more for the higher grade. E3 demolition grade has risen by €5/t week-on-week and it is now at €265/t delivered while the shortage of the higher E1 grade persists. E1 is sold at €270/t delivered, when available.

E40 contracts for March have been agreed at €295/t delivered on average, sources suggest.