According to Ruggero Alocci from Alocci Rappresentanze Industriali, the worldwide economic slump has ended, but it would be not wise to wait for a fast recovery.
Genova – At the beginning of September the Italian mills rose scrap prices by EUR 25/30 per ton in order to balance the increases on the international market in August. The strong deliveries from domestic suppliers have recovered in short time the inventories of the mills. Consequently the prices started to fall. Mills are claiming for the short order portfolio and the productions are restricted to the night/holiday shifts. Due to the higher prices quoted, only few contracts have been settled from France and Germany.
The September average prices reported by the Mills Association (EUR/pmt delivered):
New Arising E8:
• Domestic: 180
• from France: 200
• from Germany: 200
Shredded E40:
• Domestic: 205
• from France: 210
• from Germany: 210
Demolition Scrap E3:
• Domestic: 195
• from France: 210
• from Germany: 210
The October prices are conditioned by the lower steel production and scrap demand.
Pig Iron/H.B.I.
Due to the distance between the prices offered and the wish of the buyers, only few orders are reported. Buyers are still waiting for lower prices.
Steel
The market is quiet.
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