8 global scrap metal prices to watch

Fastmarkets experts share a unique visual snapshot of the ever-changing global scrap markets in 8 scrap metal price charts

The metals market is going through a generational shift. The pull of the ‘green’ economy and rising inflation has highlighted the importance of recyclable commodities to the producers and consumers of metal products — increasing the market appetite for scrap and market value for scrap metal prices.

Unprecedented volatility in the scrap world, with global events like the Russian invasion of Ukraine and knock-ons from the Covid-19 crisis, has left consumers and producers with limited visibility, wondering how and why scrap metal prices are fluctuating. Market participants say the outlook for the rest of the year remains cloudy, while the overall sentiment is negative. Tepid finished product demand owing to global recession fears and the usual year-end destocking by consumers don’t bode well for scrap metal prices.

One notable development, in particular, has been the relative slide of prime scrap metal prices vs those of obsolete scrap metal prices, to the point where prime has in some markets been valued at a discount to obsolete grades like shredded scrap.

In this short presentation, Fastmarkets experts give a visual snapshot of the 8 market-changing events that continue to influence global scrap metal prices.

For a comprehensive, expert view of how market conditions have influenced global scrap metal price movements, read our recent scrap market analysis, Around the world in 8 scrap spreads.

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A California federal jury has issued a $110 million anti-trust verdict against Commercial Metals Company on November 5, finding the Texas-based rebar producer liable for multiple anti-trust violations, while awarding Pacific Steel Group (PSG) millions of dollars due to lost profits and additional damages.
Steelmakers that lag behind in decarbonization will be first to be phased out after green steel capacity rises to meet future demand, a senior advisor from a major Chinese steel company told delegates at the China Steel Industry Summit for 2025.
On Friday November 8, 2024, Fastmarkets published MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.
On Friday November 8, 2024, Fastmarkets published MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.
Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.
Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.