Analysis
March 5, 2026
US scrap market seen sideways in March
Written by Stephen Miller
The US domestic ferrous scrap buying for March shipment is wrapping up this week, with many sources reporting a sideways outcome.
Several market forecasters had earlier predicted prices for March would weaken as scrap flows impeded by winter weather loosened up in February.
However, despite some warmer weather as February enfolded, most scrap suppliers were way behind on their outstanding orders and owed consumers considerable scrap at month’s end. When this was realized, the March market had to trade sideways as players on both sides did not want to disrupt scrap flows.
Northern Ohio, Pittsburgh
SMU spoke with a trading company doing business in the Northern Ohio district who indicated a large buyer in the state came out with sideways prices earlier this week. He said his company was behind on orders and is looking to remedy the situation in March.
The same is true for the Pittsburgh district, according to a source in Pennsylvania.
Chicago, Central districts
In the Chicago and Central districts, sources are reporting sideways prices from February.
At least one major buyer is owed a significant amount of scrap and encouraged its suppliers in late February to continue to deliver on open orders without fear of cancelation.
SMU did not hear of any cancelations in this area.
South
Moving southward, SMU spoke with a major supplier who told us his firm has sold their complement of ferrous material at prices level to those in February. He added that one major steelmaker has not completely accepted sideways pricing and has yet to make a firm buy for March.
Most dealers are able to place their tonnages at sideways prices at other mills. He believes the current market is supply-driven.
Looking forward into April, he thinks prices could drop if steel and scrap demand do not increase.
He also said, “The lack of export activity will contribute to the supply of scrap for domestic consumption.”
