US scrap trends outlook: March 2025

Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our March survey

What is the outlook for the US ferrous scrap market?

The ferrous scrap market is positioned for a significant price increase in March, driven primarily by strong demand and supply shortages. The Trend Indicator surged to 79.9, marking one of the strongest bullish signals since 2022. This translates to a 7.9% forecasted month-on-month price increase, reflecting industry-wide expectations of constrained availability.

Read on for some highlights from our US ferrous scrap market survey for March or click here to download your copy of the full US scrap trends outlook.

Supply constraints drive strong price expectations

Market participants across all segments align with this outlook. Sellers lead with a Trend Indicator of 77.2, while brokers are even more optimistic at 87.5, suggesting that they foresee tightening supplies fueling aggressive pricing.

Buyers, though slightly more cautious at 75, still acknowledge the upward momentum.

Mills have started to buy March tons already. Shredders were affected because of the snow and cold temperatures.

Survey participant

Stockpiles are not excessive but also not critically low

Inventory levels remain near neutral at 52.1, indicating that stockpiles are not excessive but also not critically low. However, the dominant market driver–lower supply–suggests that collection challenges and limited scrap flows are underpinning the bullish sentiment.

March’s market appears set for another firm increase. Market participants anticipate continued strength as mills seek to secure tonnage in a constrained supply environment, with sentiment leaning towards sustained higher pricing through the near term.

What to read next
The global copper market has finally received the widely anticipated news that imports to the US will be tariffed from August 1. The finer details of the tariffs, including their scope, and whether key copper-exporting nations like Chile, Canada and Peru will be exempt, remain unclear.
Understand how recent tariff decisions are affecting the European pulp and paper industry and trade with the US market.
Information came to light that mill buying offers had been adjusted for July following Fastmarkets’ settlement of these prices on that date, leading to an incorrect published assessment for the following grades: MB-STE-0789 Steel scrap No1 heavy melting, consumer buying price, fob Montreal, Canadian $/net ton was previously published at C$245 ($179.41) per net ton, a C$10 […]
Mexico’s production and consumption of long steel fell year-on-year in May due to weakness in the country's construction sector, but posted a month on month gain, according to the latest data from the Mexican steel chamber, CANACERO.
Despite the current headwinds, strategic partnerships and continued investment in the right areas, coupled with the underlying strong long-term demand fundamentals, will pave the way for success for lithium producers, according to the participants of the executive panel during the Fastmarkets Lithium Supply and Battery Raw Materials Conference, which took place from June 23-26 in Las Vegas, Nevada.
The US and Europe must adopt long-term, consistent policies and should learn lessons from China, according to lithium industry experts speaking at Fastmarkets’ Lithium Supply and Battery Raw Materials Conference in Las Vegas, US, over June 22-25.