In the opinion of Ruggero Alocci from Alocci Rappresentanze Industriali market sentiment is relatively positive for the short-term. China and India are paying considerable prices for their scrap imports and the world market is following this trend.
Genoa – In Italy, December last year and the first ten days in January have been conditioned by long seasonal stoppages due to the holiday. The low scrap inventories pushed the mills to pay higher prices to force the deliveries. Since the beginning of January the inventories have increased a little bit, but the negative weather conditions are slowing down the scrap collection in Europe. The lower scrap availability and the export demand is an incentive for further rises. The steel makers are doubtful to pass this into their sale market, because demand for products is still very low.
The December average prices reported by the Mills Association (EUR/pmt delivered):
New Arising E8:
• Domestic: 195
• from France: 205
• from Germany: 205
Shredded E40:
• Domestic: 205
• from France: 205
• from Germany: 205
Demolition Scrap E3:
• Domestic: 180
• from France: 195
• from Germany: 195
Pig Iron - H.B.I.
The offers for deliveries in March are reported around USD 390/400 CIF, without any positive reply reported up to now. The last HBI offers are following the general increases.
Steel
As ferrous scrap and iron ore are going up, the prices for semis, long and flat products will continue to rise even if possible corrections and pauses are expected in the short future.
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