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| ferrous scrap |
The global ferrous scrap price stability defines the current market landscape as mid-year trading concludes. Recent RMDAS data indicates that domestic steel mills in the United States maintained consistent pricing for prompt grades throughout late May and June. Therefore, market participants observe a narrow trading range that has persisted since February. Buyers of the RMDAS Prompt Industrial Composite grade reported national averages between $465 and $471 per ton. As a result, the market demonstrates a lack of significant volatility in the immediate term.
Regional Trends and Grade Performance
Regional analysis reveals that price fluctuations remain minimal across major industrial hubs. For instance, the North Central/East region experienced a marginal decline of only $1 per ton. Meanwhile, the RMDAS South region saw a slight uptick of $6, reflecting localized demand shifts. In contrast, obsolete grades like No. 2 shredded scrap and No. 1 heavy melting steel (HMS) showed very modest gains. Consequently, these figures underscore a period of equilibrium for both industrial and obsolete steel scrap categories.
Global Export Pressures and Future Outlook
External factors currently challenge this domestic ferrous scrap price stability as we approach the July buying cycle. Export data from the Davis Index highlights weakening demand in key markets such as Turkey and Mexico. Specifically, recent bulk cargo deals in Turkey were finalized at lower price points than previous transactions. Therefore, recyclers and processors must remain vigilant regarding international price trends. Although domestic prices remain steady, the global market sentiment suggests a cautious outlook for the coming month.
ScrapInsight Commentary
Currently, the U.S. steel scrap market has limited its upward momentum due to slowing demand from major exporters such as Turkey and Mexico, despite the solid maintenance of domestic prices. Weak global prices are likely to put downward pressure on the domestic market in the upcoming July purchase season, so relevant industries should closely watch export offer price trends. This suggests that securing flexibility in supply chains has become more important than ever from a circular economy perspective.
