US Scrap Trends Outlook: January

What does 2023 have in store for the US scrap market? Find out today in our monthly US steel scrap price trends outlook

Demand uptick set to boost US steel scrap prices in January

North American ferrous scrap prices in January are expected to build on recent gains amid strong demand following the year-end inventory rundown and tight supply, according to the latest Scrap Trends Outlook.

Increasingly positive sentiment pushed the Trend Indicator further into positive territory at 70.5 for January compared with 55.2 for December. The Outlook’s prediction model suggests a potential for ferrous scrap prices to rise next month by 8.3% on average. Learn more in the US Scrap Trends Outlook: January.

Well over two-thirds of respondents expected prices to trend higher next month, with around half of respondents forecasting stronger demand, while just over a quarter pointed to lower supply.

Steel mills replenish inventories ahead of New Year

Steel mills are expected to replenish languishing inventories following the year-end rundown, and the price of hot-rolled coil is showing signs of a recovery amid reports of healthy order books heading into the new year.

Scrap prices are also set to receive support from slowing inbound flows of material, partly driven by a blast of winter weather in many parts of the country that has hampered deliveries and generation levels. Learn more in the US Scrap Trends Outlook: January.

The overall trend consensus rose to 61% from 51% in December, showing that confidence in the market’s direction has increased.

Make sense of the US scrap market and track the critical indicators impacting price movements in our January outlook.

What to read next
Fastmarkets’ SBQ price assessments and monthly forecast provide much-needed clarity and a benchmark for buyers in the steel industry to use for planning and negotiation.
American Chambers of Commerce (Amcham) across Latin America are calling for urgent negotiations to prevent the escalation of trade tensions between their countries and the US, following the announcement of sweeping 50% tariffs by President Donald Trump.
Fastmarkets has launched a MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton to complement its existing suite of steelmaking raw materials to finished product differentials on Wednesday July 23. This strategic launch is designed to offer the market a single reference price denoting the differential between steel […]
India’s ferrous scrap imports have rebounded in early 2025 but remain vulnerable due to competitive domestic DRI prices and shifting sourcing strategies by steelmakers. While near-term demand is subdued, long-term prospects depend on evolving supply chains and policy decisions.
Explore the latest trends in lumber markets as vacation time and economic uncertainty impact sales and trading activity.
The lower end of the price range for Biodiesel SME B100 fob US Gulf price on Friday July 18 was erroneously published at $2.243 per gallon. This has been corrected to $4.243 per gallon. Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags oils, fats and biofuels price […]