Ferrous Scrap Prices Hold Steady in June

Recycled steel prices in the United States have maintained a period of notable stability, with transaction data for late May through mid-June revealing only marginal fluctuations. According to the Raw Material Data Aggregation Service (RMDAS) from Pittsburgh-based MSA Inc., benchmark grades of prompt industrial scrap have traded within a tight, consistent range since February, reflecting a balanced domestic market despite lingering uncertainties in global trade.

Domestic Market Shows Resilience

The national average price for the RMDAS Prompt Industrial Composite—which includes No. 1 busheling, No. 1 bundles, and No. 1 factory bundles—has remained constrained between $465 and $471 per ton since January 21, 2026. Recent data confirms that pricing for this composite shifted by less than $3 per ton in the latest monthly buying period. Obsolete grades, including No. 2 shredded scrap and No. 1 heavy melting steel (HMS), followed a similar pattern, recording only nominal gains of $1 to $3 per ton after stabilizing from minor April price adjustments. This geographic consistency across the North Midwest, North Central/East, and Southern regions suggests that domestic mill demand remains predictable.

Global Export Headwinds Develop

While the domestic landscape remains flat, sentiment heading into the July buying period is tempered by cooling activity in key export markets. Reports indicate that U.S. recycled steel shippers are facing softer demand from Turkey, the primary destination for American bulk ferrous scrap exports. Recent transactions saw a $5 per metric ton decrease in bulk HMS cargo prices compared to prior deals. Similarly, the trade dynamic between the U.S. and Mexico has shown signs of leveling off, with domestic mills in Mexico accepting lower offers for recycled material. While this creates a technical opportunity for increased cross-border volume, the overarching market sentiment remains characterized by caution among both generators and processors.

Market Impact

○ Impacted Metals: No. 1 Busheling, No. 1 Bundles, No. 1 Factory Bundles, No. 1 Heavy Melting Steel (HMS), No. 2 Shredded Scrap

○ Direction: Stable

○ Time Horizon: Near-term

○ Affected Industries: Steel Manufacturing, Automotive, Construction, Recycling

○ Related Price Reports: Steel Scrap Weekly Price Report

○ Watch Item: Monitor July domestic buy-week outcomes to see if weakening Turkish export demand forces U.S. mills to lower their procurement bids.

SuperMetalPrice Commentary:

The lack of volatility in domestic ferrous scrap pricing underscores a market currently defined by equilibrium rather than momentum. While mills have successfully maintained a narrow price band, the weakening export environment suggests that any potential upward pressure will be short-lived. Procurement managers should watch the spread between domestic and export pricing, as a continued cooling in international demand could exert downward pressure on U.S. scrap benchmarks as we enter the third quarter.