SMU scrap prices stagnant in August

SMU’s scrap prices remained largely flat to down in August as demand remains steady.

“Demand was solid overall,” one source told SMU. He said order books are strong through at least Q3, and in many cases through the end of the year, as supply of finished steel remains limited.

SMU’s ferrous scrap prices in August stand at:

Busheling at $445-470 per gross ton (gt), averaging $457.50/gt, down $5 from July.
Shredded at $410-425/gt, averaging $417.50/gt, down $5 from a month earlier.
HMS at $345-380/gt, averaging $362.50/gt, level with July.

The source continued that, “We are still dealing with the weaker export scrap market that’s inviting a good bit of otherwise export-bound scrap into the US market, especially shredded.”

Looking ahead, he said flows could slow down a bit with recent price drops, “but I expect that prices will remain generally range-bound as we move through August and into September, absent some adjustment in the export market.”

A second source was more optimistic, saying expectations for September are strong sideways.

“Many are feeling the August prices will be the lowest scrap prices we will see for the remainder of 2026,” he added.

Editor’s note:

For a recap of the August market settle, click here.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.