Italian scrap steel prices continue to rise in December

ROME (Scrap Monster): The Italian scrap steel prices have risen further during December this year. The scrap prices had recovered during end-November, after falling slightly during early-November this year. The recovery in scrap prices continued in December, trade statistics indicate.

According to trade sources, the Italian scrap steel prices had dropped marginally during early-November. However, the prices recovered by €10~15/ton towards end-November. The recovery in scrap prices continued during early-December with most steel mills willing to purchase scrap at higher prices in order to maintain steel scrap inventory levels at sufficient levels ahead of production halts in end-December during Christmas season.

The prices of No E5 (steel turnings) domestic scrap steel remained at €135~145 per ton excluding VAT. Also, No E3 (old thick steel scrap) prices remained in the range €165~175 per ton, not including VAT.