Italian domestic steel scrap prices increased in the month to Friday July 16 on support from short supply of the material, particularly of "new scrap" grades, sources told Fastmarkets.
Supplies of new scrap, including E8-grade, were short due to low automotive production caused by a shortage of computer chips used in cars, sources said. Car manufacturers are the main suppliers of E8-grade scrap material to the European market.In addition, new scrap deliveries from flat steel service centers have been lower...