Italian stainless steel scrap prices are expected to increase again in new March contracts by over €100/tonne ($122) on average, sellers tell Kallanish.
Demand remains high from local mills as finished flat products are in short supply and prices are skyrocketing.
While, at present, 304 grade is sold at €1,400/t delivered on average, merchants will be asking for between €1,500-1,530/t delivered for March, as they are already paying increases to their suppliers. Grade 316, which has reached €1,700/t delivered this month, is likely to move up to €1,750-1,800/t delivered, sources say.
Meanwhile, offers for nickel cash buyers were at $18,142/t on 26 January. They reached $19,352/t as of 24 February.