Tag: Ferrous Scrap

Scrap prices will probably rise in the US in November, market participants told SMU. It’s just a question of by how much. The expected gains next month come after an extended settlement period in October. Initial bids of up $10–20 per gross ton (gt) failed to attract enough scrap, and buyers eventually settled for prices up $20–30/gt. And several sources have indicated that a few mills had to pay even more to fill in their needs as the month has gone on.

The pig iron trade from Brazil into the US has been lackluster over the last month with minimal activity. Many players in the trade thought activity would increase after the International Iron Metallics Assn (IIMA) meeting in Chicago earlier this month, but it has not materialized so far. Part of the reason could be the US scrap buy for October stretched out longer than usual, as buyers and sellers haggled over price. Now that prices settled upward, there may be different ideas on where pig iron prices should settle.

The spread between domestic hot-rolled (HR) coil and prime scrap prices widened for the 13th consecutive month in October, hitting another multi-year high. SMU’s hot-rolled (HR) coil price stands at $1,280 per short ton (st) on average this week, up $10/st from last week and a $40/st increase from a month earlier. Meanwhile, busheling averaged $480 per gross ton (gt) in October, rising $12.50/gt higher from September.

Ferrous scrap prices rose in October as the market grew firmer, scrap sources said. “Overall, the main drivers of this October were strong US mill demand and order books, an export market that had risen over the course of September but has now pulled back slightly, and the season,” one source told SMU. He said at this time dealers and mills anticipate that scrap flows will begin to slow down moving into the end of the year.

SMU’s October ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “survey results” section for Ferrous Scrap Survey results. Past scrap survey results are also available under that selection. If you need help accessing the survey results or if your company would like to have your voice heard in our future surveys

SMU’s Current and Future Scrap Sentiment Indices were stable and trending up in October, according to the latest data from our ferrous scrap survey. SMU’s Current Scrap Sentiment Index was unchanged at +88 this month after declining five points in September. The sideways result is still tied for the second-highest level year-to-date.

Ferrous scrap prices appear to be up in October as trading gets underway, according to preliminary reports from market sources. One source said a Detroit-area buyer purchased shredded and plate and structural (P&S) at up $20 per gross ton (gt), with busheling up $10/gt. A second source said shredded and cut grades look like they'll be up $20, but trading hasn't begun in earnest yet as of Tuesday morning. 

The October market for domestic ferrous scrap is viewed with optimism mainly by participants on the selling side

There has been sustained export activity from the US on both the East and West Coasts. Prices have continued to rise, influenced by several factors, including elevated freight costs and firming markets in exporting countries.  

Alter Trading Corp. has purchased the operating assets of Iron and Metals Inc., located in Denver.

With the recent surge in steel prices and the increased melt rate, the price of ferrous scrap has only marginally improved.

The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.

Every month, SMU polls participants in the ferrous scrap market on a variety of topics. These include prices, business conditions, and tariffs, among others.

SMU’s Current and Future Scrap Sentiment Indices fell in September, according to the latest data from our ferrous scrap survey.

The spread between domestic hot-rolled (HR) coil and prime scrap prices continued to widen in September. It is now up for a 12th straight month, and at the widest gap since January 2022.

The prices for export scrap from the US East Coast jumped by $5 per metric ton (mt) on recent sales.

SMU’s September ferrous scrap market survey results are now available on our website to all premium members.

SMU’s September scrap prices for shredded and HMS came in sideways, with busheling tags increasing slightly.

Ferrous scrap prices have landed largely sideways this month, sources told SMU. The market quickly settled on Wednesday as 90% of the buying concluded, according to sources in several districts. It appears steelmakers decided there was no point in possibly disrupting flows with their strong forward order book and exceptional spreads between finished steel and current scrap costs.

Ferrous scrap prices could be poised for a sideways move in September as supply and demand are seemingly in reasonable balance, sources told SMU.

SMU welcomed to the stage George Adams for a Fireside Chat at the 2026 SMU Steel Summit on Wednesday.

August has been quiet thus far, with scrap suppliers working on completing their current orders as signals of a weaker September start to appear.

Global recycler Sims' profits increase in fiscal year that ended in June.

There has been renewed activity in the Turkish deep-sea export arena as buyers continue to fill in their September needs.

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

A sampling of responses and slides from our most recent ferrous scrap market survey.

SMU’s Current Sentiment Index for scrap jumped in August as Future Sentiment saw a sharp rebound, according to the latest data from our ferrous scrap survey.

SMU’s August ferrous scrap market survey results are now available on our website to all premium members.

The US domestic scrap market seemed to get off to a fast start on Tuesday, but things have begun to get drawn out again as mills are still considering August pricing. Several of the larger multi-mill buyers have not officially settled.

Steel and many steelmaking raw materials have been spared from additional forced labor Section 301 tariffs.