Analysis
July 14, 2026
SMU's scrap tags settle soft sideways in July
Written by Ethan Bernard
SMU’s scrap prices came in soft sideways in July, according to market sources.
One source told SMU initial buying for all scrap grades in the Pittsburgh/Cleveland area was sideways month over month.
“As the week (last week) drew to a close, news from the South came out that some mills in that region bought shred at down $10 per gross ton (gt) and cut grades at sideways numbers to down $10 depending on the mill,” he added.
Another source said all prices in the Ohio Valley went sideways. “Steady supply meeting steady demand.”
SMU’s July scrap pricing stands at:
- Busheling at $450-475 per gross ton (gt), averaging $462.50, down $2.50 from June.
- Shredded at $415-430/gt, averaging $422.50, down $10 from last month.
- HMS at $350-375/gt,, averaging $362.50, off $12.50 from June.
The first source said export prices have continued to weaken over the last week as they have over the last month.
“Since early June, export prices are down $35/ton or so,” he said. “They could move lower or find a stable level where they are today. Either way, export shred is now trading around $35/gt below domestic shred.”
He noted that normally it would be a pretty clear signal that domestic prices are bound to move lower next month.
“But I am not sure that will happen in August,” the source said. “Or if it does, I suspect the downside of domestic prices will be limited to maybe the North matching the down $10 trend the South experienced in July.”
The source continued that there is some chatter August domestic demand for scrap will be at least as good if not better than July.
Looking ahead, the second source said, “Most are forecasting little to no change in prices in the next 60 days.”
