Steel scrap prices fell more sharply than finished steel, driven by strong supply from electric furnace mills and weak demand for construction steel. The trend suggests short‑term consolidation at lower levels.
Indian domestic scrap prices fell on Nov 2 as buyers stayed on sidelines amid weak demand and the upcoming Diwali holidays. The decline reflects subdued market activity and anticipates continued softness in the near term.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iron Scrap | North America | FOB | USD 295.00/MT | August 2026 |
| Iron Scrap | North America | FOB | USD 300.00/MT | July 2026 |
Stay updated with the latest Iron Scrap prices, historical data, and tailored regional analysis
In North America, the average monthly price of Iron Scrap stood at approximately USD 300.00/MT (FOB) in July 2026. Obsolete grades, such as shredded and heavy melting scrap, eased slightly in July and declined further in August, as higher seasonal scrap flows and weak bulk and container export demand left the domestic market well supplied. Summer maintenance outages at several mills also reduced buying. Prime grades, made from clean industrial offcuts, held steady and rose slightly in September, as strong finished steel prices and high pig iron costs encouraged mills and foundries to use more of them. The gap between hot-rolled coil and prime scrap widened to its highest level in several years, giving steelmakers healthy margins and little reason to push scrap prices lower. In September, the market settled largely sideways, as mills with full order books chose to keep scrap flows steady.
Analyst Insight
According to Procurement Resource, in the near term, iron scrap prices are likely to remain stable, with prime grades holding firm and obsolete grades facing mild pressure from ample supply.
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In the North American markets, the monthly average price of Iron Scrap was USD 310.00/MT (FOB) in June’26. Iron scrap prices weakened during April as sufficient material availability and cautious steel mill purchasing reduced competition for cargoes. The market recovered in May as domestic mills increased procurement, before becoming comparatively stable in June. Trade flows also supported the availability of scrap domestically, leaving more material available for local steelmakers entering Q2. On the other hand, reduced imports of steel helped to sustain activity at the domestic mills and supported the demand for metallic raw material derived from scrap. Higher costs incurred on energy and processing in the period acted as a deterrent for the vendors to offer further discounts. However, adequate scrap collection and controlled mill inventories prevented a sustained rally.
Iron scrap refers to discarded or recycled iron containing materials and products derived from old-machinery, vehicles, appliances, and structural components. ich can then be melted down and reused in various industrial applications, particularly in the production of steel and iron-based alloys. Recycling iron scrap helps conserve resources, reduce waste, and minimize the environmental impact associated with mining and producing new iron materials.
Steel production, Foundries, Construction, Automotive industries, Fencing and security, Energy Industry
American Iron & Metal Company Inc, European Metal Recycling Ltd, Innovative Metal Recycling, SA Recycling LLC, Schnitzer Steel Industries Inc, Rudolf Schuy Gmbh Co KG, TSR Recycling GmbH & Co KG
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