North American Scrap Metal Weekly: Copper Falls 14 Cents as Aluminum and Stainless Rise
North American scrap markets diverged during the week of September 4–10, 2026. Major clean copper grades fell $0.14 per lb despite elevated primary copper benchmarks, aluminum moved broadly higher, brass/bronze eased, stainless steel advanced and steel scrap remained largely unchanged.
MONTREAL (Scrap Monster): This report reviews the latest trends in the North American scrap metal market for the week of September 4–10, 2026. Using pricing data from the Scrap Monster Price Index, it tracks weekly changes across major scrap metal categories and examines the market forces affecting scrap values, trading activity and sentiment during the reporting period.
Key Takeaways
- Copper scrap: The market was mixed beneath the surface, but the headline move was lower. Major clean copper grades lost $0.14 per lb week over week, with #3 Copper-Light Copper posting the steepest featured percentage decline. Several electromechanical and secondary copper grades moved higher, while a number of radiator, transformer and wire categories were unchanged.
- Aluminum scrap: Most tracked grades advanced during the week, while Aluminum Radiators/Fe, Al/Cu Radiators, Al/Cu Radiators/Fe and Aluminum Transformers remained unchanged.
- Brass/Bronze: The market registered a modest weekly decrease, with Red Brass and Yellow Brass each falling $0.02 per lb.
- Stainless steel: Prices moved higher across most major grades, with 201 SS posting the strongest reported percentage increase and 304 SS Solid gaining $0.02 per lb.
- Steel scrap: ScrapMonster benchmark grades remained steady during the week, with #1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling unchanged on the Index.
Week at a Glance
Copper scrap markets produced a mixed underlying pattern, although the major clean grades finished lower. The steepest featured percentage drop was in #3 Copper-Light Copper, which declined $0.14 per pound, or approximately 2.24%.
Prices for Harness Wire 35% Recovery, Cu/Al Radiators, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Xmas Lights and Cu Yokes held steady over the reporting period.
Other copper-containing categories moved higher, including Scrap Electric Motors, Sealed Units, Starters and Alternators.
Aluminum scrap prices recorded modest week-on-week increases across most tracked grades on the Scrap Monster Price Index. Aluminum Radiators/Fe, Al/Cu Radiators, Al/Cu Radiators/Fe and Aluminum Transformers were the principal exceptions and remained unchanged.
Brass and bronze scrap prices posted modest declines, reversing the previous week’s flat trend. Prices strengthened earlier in the reporting period before easing toward the close.
The lead scrap market remained broadly steady, with North American scrap auto battery prices unchanged.
Zinc scrap prices were also stable across the major North American markets. New Zinc Die Cast and Old Zinc Die Cast maintained their prior-week levels, reflecting limited movement in the tracked grades.
Global steel scrap benchmark prices were broadly stable during the week, while ScrapMonster’s principal North American steel grades were unchanged.
Stainless steel scrap moved higher during the reporting period, with most tracked grades posting gains.
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NON-FERROUS SCRAP
Market Drivers
Copper Scrap — Elevated Primary Copper Prices, but Scrap Diverged
Copper remained one of the most important influences on the non-ferrous complex. The source market review noted that LME copper traded around $14,700 per tonne at its highs during the period, supported by mine-supply concerns and structural demand associated with power grids, data centers and electrification.
However, elevated primary-market pricing did not translate directly into higher North American clean copper scrap values. Major clean scrap grades ended the week down $0.14 per lb, creating a notable divergence between elevated primary copper benchmarks and ScrapMonster’s North American buying-price movements.
Aluminum Scrap — Firmer Primary-Metal Context
Aluminum scrap entered the week with support from firmer primary aluminum benchmarks. LME aluminum had gained about 1.6% during the September 1–4 trading period, while Chinese aluminum scrap markets had also moved higher. Stronger primary aluminum prices can improve the replacement-cost basis for secondary processors, although the ScrapMonster Index remains a separate scrap-market benchmark.
Zinc Scrap — Firmer Benchmark Context
Zinc also entered the reporting period with stronger international benchmark pricing. LME zinc was among the stronger major base metals in the September 1–4 review, gaining approximately 1.6%. North American zinc scrap, however, remained unchanged during the September 4–10 reporting week.
Brass and Bronze Scrap — Mixed Global Signals
Brass and bronze faced a more balanced environment than copper and aluminum. International markets showed different regional patterns, with China and India moving higher over the weekly comparison while North American Red Brass and Yellow Brass declined.
The divergence points to differences in regional demand, availability and purchasing appetite rather than a uniform global move across brass grades.
Lead Scrap — Limited Price Momentum
Lead remained comparatively subdued. The earlier September 1–4 primary-market review showed only limited momentum, while North American scrap auto battery prices remained unchanged during the reporting week.
Global Macro and Energy Costs — Volatility Across Non-Ferrous Metals
Broader financial and geopolitical developments remained important influences on non-ferrous markets. Energy prices moved higher during the broader period, while changes in Treasury yields and the U.S. dollar affected base-metal sentiment.
Higher fuel, transportation and processing costs can raise expenses for scrap dealers, collectors and processors even when those changes do not immediately translate into higher benchmark scrap prices.
COPPER SCRAP PRICES
Primary-Market Benchmarks
- COMEX copper futures closed at approximately USD 6.5233 per pound on September 10, 2026, down roughly $0.16 per lb, or 2.38%, from the September 4 level.
- The LME Copper 3-month contract closed at $14,233.50 per tonne, according to the benchmark figure used in the source report.
North American Market Highlights
North American copper scrap prices ended the week with weakness in the major clean grades.
#1 Copper Bare Bright fell $0.14 per lb, a decline of approximately 2.14%.
#1 Copper Wire and Tubing also declined $0.14 per lb, down approximately 2.17%, while #2 Copper Wire and Tubing fell $0.14 per lb, or approximately 2.20%.
#3 Copper-Light Copper posted the steepest featured percentage decline, losing $0.14 per lb, or about 2.24%.
At the same time, Scrap Electric Motors, Sealed Units, Starters and Alternators recorded weekly increases, while Harness Wire 35% Recovery, Cu/Al Radiators, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Xmas Lights and Cu Yokes held steady.
Charts
The table below outlines the week-on-week movements in the three major featured clean copper grades.
| Category | Price Change ($/lb) | % Change |
|---|---|---|
| #1 Copper Bare Bright | -$0.14 | -2.14% |
| #1 Copper Wire and Tubing | -$0.14 | -2.17% |
| #2 Copper Wire and Tubing | -$0.14 | -2.20% |
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USA East Coast Copper Scrap Prices
On the Scrap Monster Price Index, #1 Copper Bare Bright fell $0.14 per lb as of Thursday, September 10, 2026, a weekly decline of 2.14%.
#1 Copper Wire and Tubing also fell $0.14 per lb, down 2.17%, while #2 Copper Wire and Tubing declined $0.14 per lb, or 2.20%.
USA Midwest Copper Scrap Prices
#1 Copper Bare Bright declined $0.14 per lb during the week, representing a 2.16% decrease.
#1 Copper Wire and Tubing fell $0.14 per lb, or 2.19%, while #2 Copper Wire and Tubing declined $0.14 per lb, down 2.23%.
USA West Coast Copper Scrap Prices
#1 Copper Bare Bright declined $0.14 per lb, a weekly decrease of 2.11%.
#1 Copper Wire and Tubing fell $0.14 per lb, or 2.14%, while #2 Copper Wire and Tubing declined $0.14 per lb, down 2.17%.
International Comparison — Copper
United States: Featured weekly movements ranged from declines of about 2.24% in weaker copper categories to increases of approximately 1.79% in stronger categories.
China: +3.43% | India: +0.32%
China Copper Scrap Prices
- Key copper scrap categories posted weekly gains over the reporting comparison.
- #2 Copper Wire and Tubing recorded the strongest featured weekly increase at 3.49%.
- #1 Copper Wire and Tubing followed with a 3.46% week-on-week increase.
India Copper Scrap Prices
- Tracked Indian copper scrap categories recorded week-over-week increases in the source comparison.
- Copper Sheet Cutting posted the largest featured increase, rising INR 4,000 per ton, or approximately 0.43%.
ALUMINUM SCRAP PRICES
Primary-Market Benchmarks
- The aluminum futures benchmark used in the source report closed at USD 3,279.60 per metric ton on September 10, 2026, compared with USD 3,292.50 per metric ton on September 4.
- The LME Aluminum 3-month contract closed at $3,293.50 per tonne, according to the benchmark figure used in the source report.
North American Market Highlights
North American aluminum scrap prices moved higher during the week, with most benchmark grades posting modest gains.
E.C. Aluminum Wire increased 1.35% week over week, while 6063 Extrusions rose 1.92%.
Old Cast posted the strongest increase among the featured grades at 2.22%, followed closely by UBC at 2.20%.
Across the broader aluminum slate, all tracked categories except Aluminum Radiators/Fe, Al/Cu Radiators, Al/Cu Radiators/Fe and Aluminum Transformers recorded increases during the week.
Charts
The table below provides weekly price fluctuations in E.C. Aluminum Wire, 6063 Extrusions, Old Cast and UBC.
| Category | Price Change ($/lb) | % Change |
|---|---|---|
| E.C. Aluminum Wire | +$0.02 | +1.35% |
| 6063 Extrusions | +$0.02 | +1.92% |
| Old Cast | +$0.02 | +2.22% |
| UBC | +$0.02 | +2.20% |
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Track benchmark movements through the North American Scrap Price Index.
USA East Coast Aluminum Scrap Prices
E.C. Aluminum Wire rose 1.35% as of Thursday, September 10, 2026. 6063 Extrusions increased 1.92%. Old Cast gained 2.22%, while UBC rose 2.20% week over week.
USA Midwest Aluminum Scrap Prices
E.C. Aluminum Wire increased $0.02 per lb. 6063 Extrusions rose 1.92%, Old Cast advanced 2.27%, and UBC increased 2.25% week over week.
USA West Coast Aluminum Scrap Prices
E.C. Aluminum Wire increased 1.35%, while 6063 Extrusions advanced 1.92%. Old Cast rose $0.02 per lb and UBC gained 2.17%.
International Comparison — Aluminum
United States: Featured benchmark gain of approximately 1.92% for 6063 Extrusions.
China: +0.84% | India: +1.17%
China Aluminum Scrap Prices
- Tracked aluminum scrap categories recorded weekly gains in the source comparison.
- Old Cast and Old Sheet recorded the strongest featured increases, each rising CNY 200 per MT, or approximately 0.92%.
India Aluminum Scrap Prices
- Tracked aluminum scrap grades posted weekly gains in the source comparison.
- Aluminum Utensil Scrap and Aluminum Ingot each increased INR 4,000 per ton.
- Aluminum Utensil Scrap posted the strongest featured percentage gain at approximately 1.18%.
BRASS/BRONZE SCRAP PRICES
North American Market Highlights
North American Brass/Bronze Scrap Prices posted slight weekly declines.
Yellow Brass fell $0.02 per lb, or approximately 0.55%.
Red Brass also closed $0.02 per lb lower during the week.
Charts
The table below provides weekly movements for Red Brass and Yellow Brass.
| Category | Price Change ($/lb) | % Change |
|---|---|---|
| Red Brass | -$0.02 | -0.53% |
| Yellow Brass | -$0.02 | -0.55% |
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USA East Coast Brass/Bronze Scrap Prices
Red Brass declined $0.02 per lb as of Thursday, September 10, 2026. Yellow Brass also fell $0.02 per lb.
USA Midwest Brass/Bronze Scrap Prices
Red Brass declined $0.02 per lb from the beginning of the reporting week. Yellow Brass also fell $0.02 per lb, representing a weekly decline of approximately 0.57%.
USA West Coast Brass/Bronze Scrap Prices
Red Brass fell $0.02 per lb, a decline of approximately 0.52%. Yellow Brass also decreased $0.02 per lb by week’s end.
International Comparison — Brass/Bronze
China: +1.44% | India: +0.21%
China Brass/Bronze Scrap Prices
- Tracked brass/bronze categories recorded weekly increases.
- Red Brass and Yellow Brass each increased CNY 600 per MT.
India Brass/Bronze Scrap Prices
- Tracked Indian brass/bronze categories edged higher over the weekly comparison.
LEAD SCRAP PRICES
Primary-Market Benchmarks
- The lead futures benchmark used in the source report closed at USD 1,902.18 per ton on September 10, 2026. Compared with the September 4 close of $1,907.63, the move was approximately -$5.45 per ton, or -0.29%.
- The LME Lead 3-month contract closed at $1,901.00 per metric tonne, according to the benchmark figure used in the source report.
North American Market Highlights
North American lead scrap prices remained flat throughout the week.
Scrap Auto Batteries showed no week-on-week movement.
Chart
The table below provides the weekly movement in Scrap Auto Batteries.
| Category | Price Change ($) | % Change |
|---|---|---|
| Scrap Auto Batteries | 0 | Nil |
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USA East Coast Lead Scrap Prices
Scrap Auto Battery prices held steady as of Thursday, September 10, 2026.
USA Midwest Lead Scrap Prices
Scrap Auto Battery prices remained unchanged during the week ended September 10, 2026.
USA West Coast Lead Scrap Prices
Scrap Auto Battery prices also recorded no change on the West Coast.
International Comparison — Lead
China: -0.75% | India: Flat
China Lead Scrap Prices
- Soft Lead and #2 Lead scrap prices remained unchanged in the weekly comparison.
- Auto Battery prices declined approximately 0.75%.
India Lead Scrap Prices
- Tracked Indian lead scrap categories remained flat over the reporting comparison.
ZINC SCRAP PRICES
Primary-Market Benchmarks
- The zinc futures benchmark used in the source report closed at USD 3,875.40 per metric ton on September 10, 2026, down USD 52.35 per metric ton, or approximately 1.33%, from the September 4 close.
- The LME Zinc 3-month contract closed at $3,892.00 per tonne, according to the benchmark figure used in the source report.
North American Market Highlights
North American zinc scrap prices showed no movement during the week.
New Zinc Die Cast and Old Zinc Die Cast both maintained their previous-week price levels.
Charts
The table below provides the weekly movements in New Zinc Die Cast and Old Zinc Die Cast.
| Category | Price Change ($) | % Change |
|---|---|---|
| New Zinc Die Cast | 0 | Nil |
| Old Zinc Die Cast | 0 | Nil |
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USA East Coast Zinc Scrap Prices
As of Thursday, September 10, 2026, New Zinc Die Cast remained unchanged. Old Zinc Die Cast also posted no week-on-week movement.
USA Midwest Zinc Scrap Prices
The zinc scrap market remained steady, with both New Zinc Die Cast and Old Zinc Die Cast unchanged.
USA West Coast Zinc Scrap Prices
New Zinc Die Cast and Old Zinc Die Cast maintained their previous-week levels through September 10.
International Comparison — Zinc
China: +2.49% | India: +0.48%
China Zinc Scrap Prices
- Shred Zinc scrap increased CNY 450 per MT in the weekly source comparison.
- The featured weekly increase was approximately 2.49%.
India Zinc Scrap Prices
- Tin Slab held steady week over week.
- Zinc Slab increased approximately 0.96% in the weekly source comparison.
FERROUS SCRAP
Market Drivers
U.S. Steel Output Remained Above Year-Ago Levels
U.S. raw steel production totaled 1.808 million net tons in the week ended September 5, 2026, according to the American Iron and Steel Institute.
Output was 0.6% lower week over week but 1.7% higher year over year. Capability utilization stood at 78.3%, compared with 78.7% in the previous week.
Although output eased sequentially, production remained above year-ago levels, providing a continuing consumption base for ferrous scrap.
Prime Scrap Showed Relative Strength in Broader September Trading
Broader September spot-market commentary showed a distinction between prime and lower-grade scrap. Busheling reportedly increased by around $10 per gross ton in some markets, while shredded scrap and HMS were largely sideways.
ScrapMonster’s featured weekly Index table, however, recorded no week-on-week movement for #1 Busheling, #1 HMS, Shredded Auto Scrap or HMS 80/20. The distinction should be read as a difference between broader regional spot commentary and the specific ScrapMonster benchmark series used in this report.
Narrow Regional Price Movement
Regional trading produced limited divergence during the settlement cycle. Most districts reported sideways pricing for shredded scrap and HMS, while isolated strength was reported in some prime-grade transactions.
This suggests regional supply conditions were relatively synchronized rather than one market experiencing a severe material shortage.
Scrap Inventory Levels Stayed Near Normal
Fastmarkets’ September survey cited a U.S. scrap inventory indicator of 51.1, pointing to broadly normal inventory positions at mills.
Neither unusually heavy stockpiling nor severe inventory shortages appeared to be creating major immediate price pressure.
Tariff Protection Continued to Support Domestic Steelmaking
The U.S. steel tariff regime continued to provide protection for domestic producers. By supporting domestic steelmaking activity, the tariff environment also provided an indirect source of support for metallics demand.
Finished Steel Prices Faced a Demand Ceiling
Finished steel prices remained elevated, with HRC reported around $1,185 per ton in the source market review.
However, demand growth was not strong enough to generate aggressive mill competition for scrap. Elevated finished-steel prices combined with restrained consumption helped keep scrap pricing largely range-bound.
Rising Energy Costs Added a Cost-Side Risk
Energy costs became a larger consideration toward the end of the reporting period, with Brent crude moving above $100 per barrel in the source market review amid Middle East supply concerns.
Higher diesel, transportation and processing expenses could raise costs for collectors, processors and steelmakers. The source report noted that this had not yet translated into a major weekly scrap-price increase.
Ferrous Market Read
The defining characteristic of the week was stability rather than a broad directional move.
Prime grades showed some relative strength in broader spot commentary, but ScrapMonster’s benchmark grades remained flat. Healthy mill operating rates, normal inventories and tariff-supported domestic steelmaking offered underlying support, while restrained finished-steel demand prevented those factors from developing into a broad ferrous scrap rally.
STEEL SCRAP PRICES
Global Steel Benchmarks
The source report listed the following London Metal Exchange two-month steel contracts as of September 10, 2026:
- Steel Scrap CFR Turkey (Platts): $396.00 per tonne
- Steel Rebar FOB Turkey (Platts): $600.00 per tonne
- Steel Scrap CFR India (Platts): $390.40 per tonne
North American Market Highlights
North American steel scrap prices remained unchanged week over week on the ScrapMonster Price Index.
#1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling all held their previous-week levels.
U.S. Raw Steel Production
According to the American Iron and Steel Institute, U.S. raw steel production totaled 1.808 million net tons during the week ended September 5, 2026.
Production was 0.6% lower week over week and 1.7% higher year over year.
The capability utilization rate stood at 78.3%, compared with 78.7% in the week ended August 29.
Regional production: Northeast 123,000 NT; Great Lakes 511,000 NT; Midwest 281,000 NT; Southern 821,000 NT; Western 72,000 NT.
Charts
The table below provides the weekly ScrapMonster Price Index movements in #1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling.
| Category | Price Change ($) | % Change |
|---|---|---|
| #1 HMS | 0 | Nil |
| Shredded Auto Scrap | 0 | Nil |
| HMS 80/20 | 0 | Nil |
| #1 Busheling | 0 | Nil |
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USA East Coast Steel Scrap Prices
Ferrous scrap prices remained steady during the week ended September 10, 2026. #1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling held their previous-week levels.
USA Midwest Steel Scrap Prices
The ScrapMonster benchmark series used in this report showed no weekly change in #1 HMS, Shredded Auto Scrap, HMS 80/20 or #1 Busheling.
Separate broader September spot-market commentary cited firmer prime-grade transactions in some markets, including busheling increases of around $10 per gross ton. That broader commentary should not be read as the same measure as the ScrapMonster Index table above.
USA West Coast Steel Scrap Prices
West Coast ferrous scrap prices were unchanged week over week, with #1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling all holding steady.
International Comparison — Steel
China: Flat
China Steel Scrap Prices
- Tracked steel scrap categories held steady over the weekly comparison.
- #1 HMS and Cast Iron Scrap remained unchanged.
STAINLESS STEEL SCRAP PRICES
North American Market Highlights
North American stainless steel scrap prices moved higher during the week ended September 10, 2026.
201 SS recorded the strongest reported gain among the broader tracked grades, increasing approximately 5.00% week over week.
304 SS Solid gained $0.02 per lb, an increase of approximately 3.03%.
Chart
The table below provides the featured weekly movement in 304 SS Solid.
| Category | Price Change ($/lb) | % Change |
|---|---|---|
| 304 SS Solid | +$0.02 | +3.03% |
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USA East Coast Stainless Steel Scrap Prices
304 SS Solid rose 3.03% as of Thursday, September 10, 2026.
USA Midwest Stainless Steel Scrap Prices
304 SS Solid increased $0.02 per lb during the week ended September 10, a gain of 3.03%.
USA West Coast Stainless Steel Scrap Prices
304 SS Solid also gained $0.02 per lb on the West Coast, an increase of 3.03%.
International Comparison — Stainless Steel
United States: Featured 304 SS Solid increase of 3.03% | China: +0.44%
China Stainless Steel Scrap Prices
- Tracked stainless steel categories edged higher over the weekly comparison.
- 201 SS posted the strongest featured Chinese increase, gaining CNY 50 per MT, or approximately 0.82%.
WEEKLY MARKET DRIVERS
- U.S. Steel Mill Production: U.S. Raw Steel Output Rises 5.4% Through September 2026
- Steel Scrap: VinMetal to Import Steel Scrap for Proposed Steel Plant
- Steel Shipments: AISI: U.S. Steel Mills Ship 3.7% Less Steel in July
- Site Accident: Canada’s Algoma Steel Agrees to Fine After Admitting Guilt in the Death of Damien Bryant
- New Steel Plant — South Carolina: Tyson Steel Plans $15.15 Million South Carolina Manufacturing Facility
- New Steel Plant — Louisiana: Hyundai Steel Launches $5.8 Billion Louisiana Mill Project
- Emissions / Green Steel: The source report referenced steel-sector emissions above 30 million tons of CO2e and also linked to Has the Iran War Been a Setback for Greener Steelmaking?
- Tariffs: Baltimore’s Marlin Steel Warns Canada Tariffs Could Hit 100% American-Made Steel Business
GLOBAL COMPARISON & POLICY IMPACT
United States vs. China and India
- Copper: U.S. weekly grade movements ranged from roughly -2.24% to +1.79%; China +3.43%; India +0.32%.
- Aluminum: featured U.S. benchmark +1.92%; China +0.84%; India +1.17%.
- Steel: Flat in the ScrapMonster featured U.S. and China benchmark categories.
- Stainless Steel: featured U.S. 304 SS Solid +3.03%; China stainless steel comparison +0.44%.
Expert Quote
“The September ferrous market pretty much wrapped up a reasonably unexciting trade on Friday with nearly all grades in all regions trading sideways from August price levels.”
MARKET OUTLOOK
Mostly Sideways Ferrous Prices in the Near Term
The immediate outlook remains one of relatively narrow ferrous scrap-price movement.
Fastmarkets’ September survey showed limited conviction among market participants for either a substantial increase or a significant decline. With its Trend Indicator close to the neutral 50 level, the source analysis suggests a major move is unlikely unless a new supply or demand catalyst emerges.
Prime Grades Could Show Better Resilience
Prime scrap grades could remain comparatively firm because their availability may tighten more quickly when manufacturing activity changes.
Busheling and other prime grades could therefore outperform lower-quality material if mills maintain healthy operating rates, potentially widening the price spread between prime and obsolete scrap rather than producing a uniform market move.
Finished Steel Demand Will Help Determine the Next Move
The medium-term scrap-market direction will increasingly depend on whether elevated finished-steel prices translate into stronger mill order books.
The current environment combines relatively firm steel prices with only gradual demand growth. A meaningful improvement in construction, manufacturing or automotive consumption could strengthen scrap buying, while continued demand restraint would favor range-bound pricing.
Normal Inventories Reduce the Risk of Sharp Swings
U.S. mill scrap inventories were described as close to normal in the source survey, with the Fastmarkets inventory indicator at 51.1.
This suggests mills were neither carrying excessive stocks nor facing an immediate shortage. Inventory positions therefore appeared unlikely, by themselves, to trigger either aggressive spot buying or heavy selling pressure in the near term.
Export Markets Remain a Wild Card
International scrap demand could become a more important catalyst over the coming months.
Changes in Turkish buying, Asian demand and global steel-trade flows could redirect material toward or away from the U.S. market.
A revival in export demand could tighten domestic availability and create upside potential, particularly for shredded scrap and HMS grades.
Medium-Term Market Confidence Is Improving Only Cautiously
The source survey did not show a strong bullish consensus, although sellers were somewhat more optimistic than buyers.
Fastmarkets recorded a seller Trend Indicator of 52.7, compared with 45.8 for buyers, while overall consensus around the neutral outlook reached 74%, the highest level cited in the survey.
The reading suggests participants expect stability first, with potential for modest gains if supply tightens or steel demand improves.
WATCHLIST FOR THE UPCOMING WEEK
United States
- Wednesday, September 16: U.S. Retail Sales for August.
- Wednesday, September 16: Federal Reserve interest-rate decision and FOMC statement following the September 15–16 meeting.
- Thursday, September 17: U.S. Housing Starts and Building Permits for August.
Europe — EU & UK
- Tuesday, September 15: German ZEW Economic Sentiment.
- Thursday, September 17: Bank of England monetary-policy decision and MPC summary/minutes.
Asia & Oceania
- Early in the week: China New Yuan Loans for August remain on the macro watchlist; the exact release timing should be checked against the final official release calendar before publication.
- Mid-September: China August Industrial Production and Retail Sales remain key data points for metals demand; confirm the final NBS release date before publication.
- Friday, September 18: Japan’s August inflation report.
- Thursday–Friday, September 17–18: Bank of Japan monetary-policy meeting, with the policy meeting concluding Friday.
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