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The US ferrous scrap market enters January 2026 with a bullish outlook. The Trend Indicator registered at 57.3, suggesting upward pressure on prices, translating to a forecasted month-on-month increase of 3.2%. This follows a stronger 4.2% gain recorded in December.
The consensus level, at 58%, aligns closely with the 24-month average, indicating balanced sentiment across participants. Inventories are reported slightly above average at 52.2, reflecting stable mill stocking.
Read on for some highlights from our US ferrous scrap market survey for January or click here to download your copy of the full US scrap trends outlook.
The breakdown by market side shows buyers holding the most bullish view (59.72), while brokers are more reserved at 55. Sellers’ sentiment remains also bullish at 57.3, mirroring the overall Trend Indicator. No major shift in fundamentals is anticipated, with “All Unchanged” cited as the dominant market driver for the month.
January is expected to delivery modest gains. US Scrap Trends Outlook
January is expected to delivery modest gains.
US Scrap Trends Outlook
Survey commentary points to continued low flows, some weather-related disruptions, and political uncertainty, though none of these are expected to significantly alter price dynamics in the immediate term. Exports have firmed slightly, yet supply remains tight enough to support current pricing levels.
Overall, January is expected to deliver modest gains, with few dramatic moves anticipated unless macroeconomic or geopolitical developments intervene.