Global Ferrous Scrap Markets Post Mixed Trends in Feb 2026
In Turkey, HMS 1&2 (80:20) scrap prices slipped 0.6% between February 6 and March 6 to $373.1 per tonne CFR after rising in January.
SEATTLE (Scrap Monster): The global ferrous scrap market displayed mixed trends in February 2026 following steady gains in January, according to recent market assessments. Prices continued to rise in Europe and China, while supply constraints and weaker demand pressured markets in the United States and Turkey. Despite the fluctuations, most markets remain above levels recorded at the end of 2025.
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In Turkey, HMS 1&2 (80:20) scrap prices slipped 0.6% between February 6 and March 6 to $373.1 per tonne CFR after rising in January. Steel mills limited purchases due to weak rebar demand, high inventories, and financial constraints during Ramadan. Availability of alternative materials such as imported billets and pig iron also capped demand, although tight supply from exporters and higher freight costs limited the downside.
European scrap prices continued to increase, rising 1–5% across the region. E3 scrap in Germany climbed to €300 per tonne ex-works, while Italian prices reached €330 per tonne. Limited supply, winter logistics disruptions, and lower scrap collection supported the market.
Meanwhile, U.S. East Coast HMS 1/2 (80:20) scrap prices fell 2.2% to $333 per tonne FOB. In China, scrap prices posted modest gains supported by recovering demand from electric-arc-furnace steel mills.