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    May 24, 2022

    Scrap Prices Expected to Decline $30-50/ton in June

    Written by Brett Linton

    Steel Market Update sources expect ferrous scrap prices to decline in June, following record high prices in March through May. Some expect prime grades to decline as much as $50 per gross ton from May, with obsolete grades down anywhere from $20-$50 per ton.

    steel scrap“Markets are worsening by the day. It looks like there is continued weakness both domestically and internationally. Our domestic market is suffering from oversupply as the US scrap industry is running on all eight cylinders,” said one scrap executive. “The Russian/Ukrainian war is now starting to depress steel and scrap prices as they try to sell their products at bargain prices.”  He went on to say obsolete grades could bear the brunt of the declines, while prime scrap might be propped up as auto assembly plants take down time.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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