US Scrap Trends Outlook: February

Low supply, strong demand to spur scrap prices higher in Feb, market says

Participants in the North American ferrous scrap market expect a third straight month of rising prices amid healthy steel mill demand and sluggish inbound flows of material, according to the latest Scrap Trends Outlook.

The bullish sentiment kept the Trend Indicator in positive territory, at 64.5 for February, compared with 70.5 for January. The Outlook’s prediction model suggests a potential for ferrous scrap prices to rise 5.3% on average next month.

More than half of the respondents to the survey expected prices to rise next month, while 35% said that prices would trade sideways.

One-third of the respondents forecast higher demand to drive the market, while a quarter pointed to lower supply.

Steel scrap demand

Demand for material remains robust, with domestic mills replenishing inventories and hot-rolled coil prices starting to move upward. Mills are also having to compete with the nation’s docks in the wake of solid export activity. The US has sold 11 ferrous scrap cargoes to Turkey since the start of January.

The overall trend consensus edged up to 67% compared with 61% for January, 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 February 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 […]