Scrap Metal Prices: Weekly Market Report- October 23-29, 2026
Weekly Metal Price Report | 2026-10-30 04:46:17 | By Carolina Curiel
Copper scrap prices displayed a mixed trend during the week, with several key grades posting modest week-on-week gains, while a few categories remained unchanged on the Index.
MONTREAL (Scrap Monster): This report evaluates weekly performance across key North American scrap metal categories for October 23–29, 2026. Utilizing data from the Scrap Monster Price Index, it outlines short-term price movements and offers strategic insight into regional market sentiment and supply-demand dynamics.
KEY TAKEAWAYS
- Copper scrap prices displayed a mixed trend during the week, with several key grades posting modest week-on-week gains, while a few categories remained unchanged on the Index.
- Aluminum scrap prices also showed mixed performance, although the majority of grades registered increases compared to the previous week.
- Brass scrap prices recorded modest week-on-week gains, reflecting steady market conditions.
- Stainless steel scrap prices moved lower during the week, with most grades posting moderate declines.
- Steel scrap prices remained stable throughout the week, supported by steady demand from steel mills and an adequate supply of scrap across the market.
Copper scrap markets reported a modest jump in prices over the previous week. #3 Copper- Light Copper and #2 Copper Wire and Tubing posted the sharpest weekly gains, rising by ↑3.33% and ↑3.28%, respectively, on the Index compared with the prior week.
Aluminum scrap prices posted a modest week-on-week jump on the Scrap Monster Price Index, with most tracked grades moving higher. The category to record the biggest jump was 6061 Extrusions/Fe, whose prices were up by ↑2.67%. However, a few grades, such as Aluminum Radiators, Aluminum Radiators/Fe, Al/Cu Radiators, Al/Cu Radiators/Fe, and Aluminum Transformers, held steady during the reporting period.
Brass and bronze scrap prices registered modest gains on the Index, reversing the negative pricing momentum observed in the previous week. In the meantime, lead scrap markets remained stable, with no price variations reported across key regional markets.
Zinc scrap values inched upward during the week. New Zinc Die Cast and Old Zinc Die Cast both reported slight jumps on the Scrap Monster Price Index, reflecting a firmer weekly tone in North American zinc scrap. The values had recorded decline during the previous reporting period.
Meanwhile, global steel scrap benchmark prices remained unchanged, reflecting a well-balanced market where supply continued to comfortably meet demand.
Stainless steel scrap prices recorded a slight decline on the Index during the period under review. 301 SS scrap recorded the biggest decline, falling by ↓2.38%. The only category to remain unchanged was 201 SS.
For full market breakdowns, visit the Daily Scrap Metal Price Report Hub or track real-time prices via the US Scrap Price Index.
NON-FERROUS SCRAP
Market Drivers
Copper Scrap Demand and Supply
Demand from electrical, construction, automotive, and renewable energy sectors remains a major driver of copper scrap prices. Limited availability of high-quality scrap, combined with strong demand from smelters and refiners, can push prices higher.
Aluminum Scrap Market Dynamics
Demand from automotive, packaging, construction, and transportation industries influences aluminum scrap consumption. Higher primary aluminum prices and rising demand for recycled metal can support scrap prices, while increased scrap generation may put downward pressure on the market.
Lead Scrap and Battery Recycling
The growth of battery recycling and replacement demand from the automotive sector significantly influences lead scrap availability and prices. Changes in lead-acid battery production, collection rates, and recycling regulations also affect market conditions.
Zinc Scrap Demand and Galvanizing Activity
Demand from steel galvanizing, die-casting, and construction industries plays an important role in shaping zinc scrap market trends. Changes in infrastructure investment and galvanized steel production can influence scrap consumption and pricing.
Trade Policies and International Scrap Flows
Export restrictions, import duties, environmental regulations, and changes in international trade policies influence the movement of non-ferrous scrap across major markets. These measures can disrupt supply chains, create regional shortages or surpluses, and widen price differences between domestic and export markets.
Global Economic Conditions and Industrial Activity
Economic growth, manufacturing output, and infrastructure spending across major economies directly influence non-ferrous scrap consumption. Slowdowns in industrial activity can weaken demand for copper, aluminum, nickel, and other recycled metals, while economic recovery can stimulate buying activity and support scrap prices.
The non-ferrous scrap market is influenced by metal-specific demand and supply trends, industrial activity, battery recycling, stainless steel production, and global economic conditions. Trade policies, export restrictions, and fluctuations in primary metal prices also play a key role in shaping scrap availability, pricing, and international trade flows.
COPPER SCRAP PRICES
- COMEX Copper Futures closed at USD 6.5733 per pound as of October 29, 2026, higher by around 18¢ (↑2.74%) over the prior week.
- According to the London Metal Exchange, LME Copper 3-month contract's closing price stood at $14,356.50 per tonne.
Market Highlights
North America Copper Scrap Prices: Copper scrap prices trended upward this week, maintaining the slight positive momentum seen in the prior reporting period. Among the key grades, #1 Copper Bare Bright and #1 Copper Wire and Tubing advanced by ↑3.17% and ↑3.23%, respectively. #2 Copper Wire and Tubing also strengthened, posting a ↑3.28% gain on the Index, reflecting firm market sentiment across the copper scrap segment.
Charts
The table below outlines the week-on-week price movements for #1 Copper Bare Bright, #1 Copper Wire and Tubing, and #2 Copper Wire and Tubing.
| Category | Price Change ($) | % Change |
| #1 Copper Bare Bright | 0.20 | +3.17% |
| #1 Copper Wire and Tubing | 0.20 | +3.23% |
| #2 Copper Wire and Tubing | 0.20 | +3.28% |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Copper Scrap Prices
According to the Scrap Monster Price Index, #1 Copper Bare Bright prices rose by $0.20 per pound as of Thursday, October 29, 2026, marking a ↑3.17% increase from the previous week. #1 Copper Wire & Tubing also advanced by $0.20 per pound, registering a ↑3.23% weekly gain, while #2 Copper Wire and Tubing climbed by an identical amount, posting a ↑3.28% week-on-week increase by the end of the reporting period.
USA Midwest Copper Scrap Prices
Copper scrap prices strengthened during the week ended October 29, 2026, with clean grades recording notable gains on the Scrap Monster Price Index. #1 Copper Bare Bright prices advanced by $0.20 per pound, translating to a ↑3.22% week-on-week increase. Similarly, #1 Copper Wire & Tubing prices rose by $0.20 per pound, posting a ↑3.27% gain compared to the previous week. Also, #2 Copper Wire and Tubing recorded upward movement, registering a ↑3.32% increase over the week.
USA West Coast Copper Scrap Prices
#1 Copper Bare Bright prices on the Scrap Monster Price Index increased by $0.20 per pound as of Thursday, October 29, 2026, recording a weekly gain of ↑3.12%. #1 Copper Wire & Tubing also edged higher by $0.20 per pound, reflecting a ↑3.17% increase from the previous week. Meanwhile, #2 Copper Wire and Tubing prices advanced by ↑3.23% by the close of the week.
International Comparison
China Copper Scrap Prices
- All key copper scrap categories posted modest jumps on the Scrap Monster Price Index.
- The top gainer was #2 Copper Wire and Tubing, which was up by CNY 950 per MT(↑0.93%). #1 Copper Wire and Tubing and #1 Copper Bare Bright followed closely, posting week-on-week increases of ↑0.92% and ↑0.88%, respectively.
India Copper Scrap Prices
- All copper scrap categories recorded a week-over-week increase on the Scrap Monster Price Index.
- The commodity to report the biggest jump in prices was Copper sheet cutting, whose prices were up by INR 32,000 per Ton(↑3.49%).
ALUMINUM SCRAP PRICES
- COMEX Aluminum Futures closed at USD 3,071.25 per metric ton as of October 29, 2026, modestly higher when compared with the previous week's closing price of USD 3,009.45 per metric ton.
- LME Aluminum 3-month contract closed at $3,078.50 per tonne, according to the London Metal Exchange.
Market Highlights
North America Aluminum Scrap Prices: Over the past week, E.C. Aluminum Wire saw a modest uptick in prices, climbing by $0.03 per Lb (↑2.21%) to finish higher on the Scrap Monster Price Index compared with the previous week. 6063 Extrusions also closed the week in positive territory, rising $0.02 per Lb week-on-week, while Old Cast experienced a gain of $0.02 per Lb (↑2.35%). UBC prices followed the upward trend, recording a $0.02 per Lb increase over the same period.
Charts
The table below provides weekly price fluctuations in E.C. Aluminum Wire, 6063 Extrusions, Old Cast and UBC.
Category | Price Change ($) | % Change |
0.03 | +2.21% | |
0.02 | +2.04% | |
0.02 | +2.35% | |
0.02 | +2.33% |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Aluminum Scrap Prices
The price of E.C. Aluminum Wire on the Scrap Monster Price Index recorded a jump of $0.03 per Lb (↑2.21%) as of Thursday, October 29, 2026. 6063 Extrusions edged higher by $0.02 per Lb compared with the previous week. Old Cast prices increased from the previous week's closing price, rising by $0.02 per Lb (↑2.35%) during the week, while UBC prices also increased by $0.02 per Lb on a week-on-week basis.
USA Midwest Aluminum Scrap Prices
Aluminum scrap prices moved higher over the past week, with several key grades posting notable gains. E.C. Aluminum Wire recorded the sharpest increase, rising by $0.03 per pound (↑2.21%), while 6063 Extrusions advanced by $0.02 per pound (↑2.04%). Old Cast prices also climbed by $0.02 per pound on a week-on-week basis, and UBC prices registered a similar increase during the same period.
USA West Coast Aluminum Scrap Prices
The price of E.C. Aluminum Wire on the Scrap Monster Price Index climbed by $0.03 per pound (↑2.21%) as of Thursday, October 29, 2026. 6063 Extrusions also moved higher, gaining $0.02 per pound compared with the previous week. By the close of the week, Old Cast prices advanced by $0.02 per pound (↑2.33%), while UBC prices likewise recorded a week-on-week increase of $0.02 per pound.
International Comparison
China Aluminum Scrap Prices
- All aluminum scrap categories recorded a modest increase from the previous week's prices on the Scrap Monster Price Index.
- Old Cast and Old Sheet posted the biggest jumps, rising by CNY 100 per MT (↑0.48%) each.
India Aluminum Scrap Prices
- All aluminum scrap categories recorded an increase on the Scrap Monster Price Index.
- Aluminum utensil scrap and aluminum ingot prices moved higher during the week, with both categories recording an identical jump of INR 11,000 per ton compared with the previous reporting period.
- On a week-on-week basis, Aluminum utensil scrap registered the sharpest percentage rise among the tracked grades, increasing ↑3.50%.
BRASS/BRONZE SCRAP PRICES
Market Highlights
North America Brass/Bronze Scrap Prices: Over the previous week, there was a jump in brass/bronze scrap prices. Yellow Brass’s prices increased by ↑1.40% during the course of the week. Red Brass closed on a higher note, rising by ↑1.34% during the week.
Charts
The table below provides weekly price fluctuations in Yellow Brass and Red Brass.
Category | Price Change ($) | % Change |
0.05 | +1.34% | |
0.05 | +1.40% |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Brass/Bronze Scrap Prices
On the Scrap Monster Price Index, Red Brass prices rose by ↑1.34% as of Thursday, October 29, 2026. Yellow Brass also posted gains, increasing by ↑1.40% on the Index.
USA Midwest Brass/Bronze Scrap Prices
By the end of the week ended October 29, 2026, Red Brass prices had risen by ↑1.37% compared to the start of the week. Yellow Brass also recorded a week-on-week increase, edging up by ↑1.44%.
USA West Coast Brass/Bronze Scrap Prices
Red Brass prices increased by $0.05 per pound, marking a ↑1.29% increase from the previous week. Meanwhile, Yellow Brass prices also moved higher, gaining ↑1.31% on the Scrap Monster Price Index by week’s end.
International Comparison
China Brass/Bronze Scrap Prices
- All brass/bronze scrap categories recorded a modest increase on the Scrap Monster Price Index.
- Both Red Brass and Yellow Brass prices were up by CNY 200 per MT.
India Brass/Bronze Scrap Prices
- All brass/bronze scrap categories recorded increase on the Scrap Monster Price Index.
- The top gainer was Brass Cuttings, whose prices saw week-on-week jump of INR 6,000 per MT (↑1.42%).
LEAD SCRAP PRICES
- COMEX Lead Futures recorded a slight jump of USD 11.77 per Ton (↑0.62%) over the prior week to close at USD 1,916.20 per Ton as of October 29, 2026.
- The closing price of LME Lead 3-month contract was $1,915.00 per metric tonne, as per London Metal Exchange data.
Market Highlights
North America Lead Scrap Prices: Lead scrap prices remained stable during the week, with no changes recorded across major grades, reflecting balanced supply-demand fundamentals. Scrap auto battery prices also held steady, closing the week unchanged from the previous reporting period.
Chart
The table below provides weekly price fluctuations in Scrap Auto Batteries.
Category | Price Change ($) | % Change |
0 | Nil |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Lead Scrap Prices
The price of Scrap Auto Batteries on the Scrap Monster Price Index held steady as of Thursday, October 29, 2026.
USA Midwest Lead Scrap Prices
Scrap auto battery prices remained unchanged during the week ending October 29, 2026, holding steady at the previous week's level.
USA West Coast Lead Scrap Prices
The prices of Scrap Auto Batteries recorded no change on the Scrap Monster Price Index as of Thursday, October 29, 2026.
International Comparison
China Lead Scrap Prices
- Soft Lead and #2 Lead scrap prices posted no weekly variation on the Scrap Monster Price Index.
- Also, Auto Battery prices held steady from the prior week's prices.
India Lead Scrap Prices
- The prices of all lead scrap categories in the region remained steady over the previous week on the Scrap Monster Price Index.
ZINC SCRAP PRICES
- COMEX Zinc Futures closed at USD 3,878.73 per metric ton as of October 29, 2026, recording a notable surge of USD 202.28 per metric ton (↑5.50%).
- LME Zinc 3-month contract's closing price on the London Metal Exchange: $3,883.00 per tonne
Market Highlights
North America Zinc Scrap Prices: Zinc scrap prices edged higher upon comparison with the previous week's prices. New Zinc Die Cast prices were up by ↑1.06%. Also, Old Zinc Die Cast prices posted a jump of ↑1.15% during the week.
Charts
The table below provides weekly price fluctuations in New Zinc Die Cast and Old Zinc Die Cast.
Category | Price Change ($) | % Change |
0.01 | +1.06% | |
0.01 | +1.15% |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Zinc Scrap Prices
The price of New Zinc Die Cast on the Scrap Monster Price Index recorded a jump by ↑1.06% as of Thursday, October 29, 2026. Also, Old Zinc Die Cast prices were up by ↑1.15% over the previous week.
USA Midwest Zinc Scrap Prices
By the conclusion of the week ended October 29, 2026, the prices of New Zinc Die Cast and Old Zinc Die Cast recorded increase from the previous week’s price levels.
USA West Coast Zinc Scrap Prices
The prices of New Zinc Die Cast witnessed week-over-week jump of ↑1.06% on the Scrap Monster Price Index as of Thursday, October 29, 2026. Similarly, the Old Zinc Die Cast prices closed at a higher level, recording a jump of ↑1.15% week-over-week.
International Comparison
- Shred zinc scrap prices recorded a jump of CNY 50 per MT on the Scrap Monster Price Index. The commodity's price was up by ↑0.28% from the previous week's price during the week ended October 29, 2026.
- Tin Slab prices held steady week-over-week on the Scrap Monster Price Index.
- Zinc slab prices witnessed an increase of INR 22,000 (↑5.26%) over the previous week
FERROUS SCRAP
Market Drivers
Steel Production and Mill Demand
Steel production levels directly influence ferrous scrap consumption, as electric arc furnace (EAF) mills rely heavily on scrap as a raw material. Higher steel output and increased mill procurement generally support scrap demand and prices.
Construction and Infrastructure Activity
Construction, infrastructure development, and public investment generate significant demand for steel products. Increased activity in these sectors boosts steel production and scrap consumption, while project delays and weak investment can dampen demand.
Automotive and Manufacturing Demand
The automotive, machinery, shipbuilding, and manufacturing industries are major consumers of steel. Changes in production levels across these sectors influence steel mill operations and, consequently, the demand for ferrous scrap.
Iron Ore and Pig Iron Price Movements
Prices of iron ore, pig iron, and other steelmaking raw materials influence the competitiveness of ferrous scrap. When alternative raw material prices rise, steelmakers may increase scrap usage, supporting market prices.
Scrap Generation and Collection Rates
The availability of obsolete scrap from demolished buildings, end-of-life vehicles, and discarded machinery affects market supply. Seasonal collection patterns, demolition activity, and scrap processing capacity can create regional supply shortages or surpluses.
International Trade and Export Policies
Import duties, export restrictions, tariffs, and changing trade regulations influence cross-border ferrous scrap movements. Changes in trade flows can alter regional supply-demand balances and create price variations across major markets.
Ferrous scrap market trends are primarily driven by steel production, construction and infrastructure demand, and activity in the automotive and manufacturing sectors. Raw material price movements, scrap generation and collection rates, and international trade policies further influence scrap availability, demand, and pricing.
STEEL SCRAP PRICES
Market Highlights
The closing prices of various LME 2-month steel contracts on the London Metal Exchange as of October 29, 2026 are provided below:
Steel Scrap CFR Turkey (Platts) - $401.50 per tonne
Steel Rebar FOB Turkey (Platts) - $600.00 per tonne
Steel Scrap CFR India (Platts) - $395.00 per tonne
North America Steel Scrap Prices: Steel scrap prices remained flat week-on-week, signaling stable market fundamentals and balanced supply-demand dynamics. #1 HMS held firm at prior-week levels, while Shredded Auto Scrap, HMS 80/20, and #1 Busheling also traded sideways with no notable price movement.
According to the American Iron and Steel Institute (AISI), U.S. raw steel production totalled 1.774 million NT during the week ended October 24, 2026. This is down sharply by ↓5.10% week-on-week, but higher by ↑3.00% year-on-year.
The capability utilization rate stood at 76.80% (compared to 80.90% in the week ending October 17, 2026).
Region-wise production - Northeast-138,000 NT, Great Lakes-514,000 NT, Midwest-330,000 NT, Southern-726,000 NT, Western-66,000 NT
Charts
The table below provides weekly price variations in #1 HMS, Shredded Auto Scrap, HMS 80/20, and #1 Busheling.
Category | Price Change ($) | % Change |
0 | Nil | |
0 | Nil | |
0 | Nil | |
0 | Nil |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Steel Scrap Prices
Ferrous scrap prices remained stable during the week ended October 29, 2026, according to the Scrap Monster Price Index, reflecting balanced supply-demand conditions and steady market activity. Major benchmark grades, including #1 HMS, Shredded Auto Scrap, HMS 80/20, and #1 Busheling, were unchanged from the previous week, indicating a lack of significant pricing pressures across the steel scrap market.
USA Midwest Steel Scrap Prices
#1 HMS prices held steady on the Scrap Monster Price Index during the week. Meanwhile, Shredded Auto Scrap, HMS 80/20, and #1 Busheling all posted week-on-week gains, reflecting firmer pricing across several key ferrous scrap grades.
USA West Coast Steel Scrap Prices
Ferrous scrap prices showed no week-on-week movement as of October 29, 2026, with all major benchmark grades holding steady on the Scrap Monster Price Index. #1 HMS, Shredded Auto Scrap, HMS 80/20, and #1 Busheling remained unchanged throughout the reporting period, underscoring a balanced and stable steel scrap market.
International Comparison
China Flat
China Steel Scrap Prices
- All the steel scrap categories held steady on the Scrap Monster Price Index.
- #1 HMS and Cast Iron Scrap prices remained flat upon comparison with the previous week's prices.
STAINLESS STEEL SCRAP PRICES
Market Highlights
North America Stainless Steel Scrap Prices: Stainless steel scrap prices moved lower during the week under review, with weakness evident across major grades on the Scrap Monster Price Index. Among them, 301 SS scrap posted the biggest dip, dropping ↓2.38% from the previous week's level, highlighting negative sentiments in the stainless scrap market.
Chart
The table below provides weekly price fluctuations in 304 SS Solid scrap.
Category | Price Change ($) | % Change |
0.01 | -1.47% |
Access our Daily Scrap Metal Price Report Hub
Track real-time prices via our US Scrap Price Index
USA East Coast Stainless Steel Scrap Prices
The price of 304 SS Solid on the Scrap Monster Price Index recorded a decline of ↓1.47% as of Thursday, October 29, 2026.
USA Midwest Stainless Steel Scrap Prices
304 SS Solid prices registered a dip of ↓1.47% on the Scrap Monster Price Index. The price of the commodity reported a decline of $0.01 per Lb during the week.
USA West Coast Stainless Steel Scrap Prices
According to the Scrap Monster Price Index, the price of 304 SS Solid slipped by ↓1.47% during the week ended October 29, 2026, recording a week-on-week decline of $0.01 per Lb.
International Comparison
China ↓1.75%
China Stainless Steel Scrap Prices
- All major stainless steel scrap categories declined on the Scrap Monster Price Index.
- Top loser: 310 SS (Down CNY 400 per MT/ ↓2.42%)
See all Stainless steel daily reports → | Stainless Steel Price Index → | Related Stainless steel news →
Weekly Market Drivers
- U.S. Steel Mill Production- U.S. Steel Output Falls 5.1% as Southern Mills Slow
- Iowa Steel Mill- Three weeks after incentives revealed, negotiations continue on Iowa steel mill
- Scrap Metal Recycling- Scrap Metal Shortages Risk Derailing Africa's Steel Demand Surge / BIR Malaga 2026: How EU Export Restrictions Threaten Metal Recyclers / Nigeria Scrap Dispute Raises Steel Supply Risks
- Global Steel Output- Global Crude Steel Output Falls 0.2% in September 2026
- Air Permit- Hyundai-POSCO Louisiana Steel Wins Final Air Permit
- Import/Export- U.S. Steel Imports Fall 2.9% in September 2026
- Steel Pollution- Indiana Steel Pollution Linked to $3B in Health Damages
- Company Earnings- Nucor Q3 Profit Surges 117% to $1.32 Billion / BlueScope Lifts Profit Outlook to A$1.1B on U.S. Steel
- Mill Investment- South Korean Ambassador Highlights $5.8B Steel Mill
Global Comparison & Policy Impact
USA vs. China/India
- Brass/Bronze: U.S.- ↑1.37%; China ↑0.48% | India ↑1.30%
- Lead: U.S.- Flat; China Flat | India Flat
- Zinc: U.S.- ↑1.11%; China ↑0.28% | India ↑2.63%
- Steel: Flat
- Stainless Steel: U.S.- ↓1.47%; China ↓1.75%
Expert Quote:
“October settled up $20 to $30 a gross ton after the first bids fell short, and traders expect higher steel scrap prices in November again.” — A. Durao, Editor, Scraplift, October 23, 2026.
Market Outlook
Near-Term Price Support from Seasonal Supply Tightness
Ferrous scrap prices may face upward pressure as colder weather and the approaching holiday season reduce scrap collection and obsolete material availability in North America and Europe. This could tighten export supplies and strengthen buying competition among international steel mills.
Improved Turkish Import Demand
Turkey's demand for imported scrap could strengthen as steelmakers replenish inventories and prepare for higher production requirements. However, the pace of price increases will depend on finished steel demand and the profitability of steel exports.
US Scrap Prices Likely to Remain Firm
Relatively tight inventories and expectations of stronger mill demand are likely to support US ferrous scrap prices in the near term. However, increased scrap imports and regional differences in mill purchasing activity could limit further gains.
European Scrap Demand to Gain Structural Support
Europe's transition towards electric arc furnace (EAF) steelmaking is expected to increase demand for ferrous scrap over the medium term. The planned commissioning of up to 20 EAFs during 2026–2030 will particularly increase competition for high-quality scrap grades.
China's Weak Steel Demand to Limit Global Upside
Weak construction activity, property sector challenges, and subdued infrastructure investment in China are likely to restrict steel production growth. This could limit regional scrap consumption and weigh on global price momentum, despite stronger demand in other markets.
India to Remain a Key Growth Market
India's steel demand is forecast to grow by 7.9% in 2026 and 8% in 2027, supported by infrastructure development, construction, manufacturing, and automotive production. This expansion is expected to provide medium-term support for domestic ferrous scrap consumption.
The near-term ferrous scrap market is likely to receive support from seasonal supply constraints, tighter inventories, and improved buying interest in selected markets. However, weak Chinese steel demand and cautious mill procurement could limit price increases. Over the medium term, India's expanding steel sector and Europe's transition towards EAF production are expected to strengthen scrap demand, although trade uncertainties and global economic conditions will remain important influences.
WATCHLIST FOR UPCOMING WEEK
U.S
- Mon: ISM Manufacturing PMI (Oct)
- Wed: ISM Services PMI (Oct)
- Thu: Initial Jobless Claims
- Fri: University of Michigan Consumer Sentiment Index Prelim (Nov)
Europe (EU & UK)
- Mon: Bank of England (BoE) Interest Rate Decision, Germany HCOB Manufacturing PMI (Final)
- Wed: Eurozone HCOB Services PMI (Final)
- Thu: Germany Factory Orders MoM (Sep)
Asia & Oceania
- Mon: China Caixin Manufacturing PMI
- Tue: Hong Kong GDP Growth Rate
- Wed: China Caixin Services PMI, Japan Jibun Bank Services PMI (Final)
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