Iron Scrap Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Iron Scrap in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Iron Scrap Price Trend for the Second Half of 2023

Iron Scrap prices were witnessed to fluctuate throughout the second half of 2023. July began with a marginal dip in prices, particularly in the American and European regions, as the supplies started improving after a long time.

Iron Scrap Price Chart

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In the Asian markets, however, the prices were found to be inclining, particularly in the Indian and Chinese markets, as the demands were rising in both domestic and international markets. Nonetheless, these situations reversed soon as the second half of the third quarter started seeing a dip in prices in the Asian markets. The supply flow increased, and the American markets started weighing high as the suppliers here got cautious with orders and purchased less.

Some stability in the global iron scrap market was achieved in the fourth quarter as the gap between the supply and demand dynamics started to diminish, which brought the pricing fundamentals on more equal terms, and the price graph almost plateaued during this time. Overall, a lukewarm performance was witnessed in H2’23.

Analyst Insight

According to Procurement Resource, Iron Scrap price trends are expected to pick up in the coming months as the manufacturing and recycling industries are likely to boost following the holiday season.

Iron Scrap Price Trend for the First Half of 2023

In the first and second quarters of 2023, the price trend of iron scrap oscillated consistently in the North American region. The construction and demolition sectors showcased steady demand that somewhat stabilized the market sentiments of iron scrap. Further, the offers from overseas buyers also helped to keep the demand in the positive zone.

The inflow of iron scrap in the region was not as par to equalize the demand from the downstream sectors. The muted supply provided the iron scrap market with a positive push, especially in the months of March and April. The sales of downstream industries such as automotive and construction improved only slightly during this period. However, during the end months of the second quarter, the market sentiments of the construction and the demolition sector contracted, and even the investors were reluctant to spend, negatively impacting the iron scrap price trend.

Analyst Insight

According to Procurement Resource, the price of Iron Scrap is estimated to fluctuate in the upcoming quarters due to the uncertain market sentiments of the downstream industries.

Procurement Resource provides latest prices of Iron Scrap. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.