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According to a statement by the Italian association of scrap, raw materials and steel distributors Assofermet, italian prices for Italian scrap remained unchanged in February.
Last week’s tight supply caused the prices of many types of scrap to rise, with calls for scrap prices rising after production halted for a while after the earthquake in Turkey. The low amount of scrap in merchants’ warehouses and the slowdown in collection activities due to the reduction in production will cause prices to remain at current levels and even increase in March.
On the other hand, shipping costs were a problem as always.
The sideways movement initially observed in scrap prices in the global market has been replaced by an upward trend following increased demand from the Turkish market. Thus, scrap prices increased by a record $40/ton at the end of February.
LME Steel Scrap TSI HMS 80-20 CFR – Turkey euro/ton
Demand was still weak in European markets, which followed a generally positive trend and limited price changes were observed. According to the shared information, only a few scrap purchases were made in Germany, not only due to the prices, but also due to delivery difficulties.
In France, on the other hand, prices slightly increased by 5 euro/ton and demand remained at good levels, while scrap supply decreased. Compared to the Italian market, prices in France continued to differ by 15-20 euro/ton. In Spain, shredded scrap prices have increased, but the demand has not been sufficient to meet the price increase.
In February, a stable price trend was observed in the Italian stainless scrap market, excluding high quality products. In the second half of the month, buyers tried to lower prices, but this attempt was unsuccessful. At the same time, it was noted that some mills had been holding stocks since December, thinking prices would rise.
RF – Scrap Stainless Steel – Aisi 304 – Turnings Italy euro/ton
