US scrap trends outlook: October 2025

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

Scrap prices expected to decline again amid softening demand

Ferrous scrap prices are expected to fall further in October, continuing September’s downward trend. The Trend Indicator slipped to 40.1, suggesting increased bearish sentiment across the market and pointing to a expected 3.6% month-on-month decline in scrap prices. This compares to a 2.6% drop recorded in the previous month.

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

Market sentiment: Broad consensus on weak prices amid soft demand

Market participants cite lower demand as the primary driver of the downturn. All three market segments – buyers (33.33), brokers (43.8), and sellers (43.3)– are aligned in expecting weak price performance, with no group indicating an outlook above the neutral 50-point mark. Inventories remain slightly below average at 43.3, reinforcing that supply-side constraints are not expected to provide price support.

Market participants cite lower demand as the primary driver of the downturn

Survey participant

Moderate agreement persists as demand declines

Consensus among participants held steady at 60%, in line with the historical average, suggesting moderate alignment in outlook. While overhangs of prime scrap and outages were noted by some respondents, the dominant sentiment is shaped by declining mill demand and macroeconomic headwinds.

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