Steel Scrap Prices: Weekly Market Report – February 28, 2025

SEATTLE (Scrap Monster):Based on price data compiled from the Scrap Monster Price Index, one could see that steel scrap prices increased across the board during the past one week period from February 21 to February 27, 2025.

North America Prices

The prices of #1 Bundle and #1 Busheling recorded the biggest increase, rising by 7.59% and 7.23% respectively over the previous week.

The chart below provides weekly price trends in #1 Bundle in the North American region:

The HMS 80/20 Scrap prices were up by 7.14% over the prior week.

Also, notable price increase of 6.12% was reported in Sheet Metal.

#1 HMS and Structural Steel prices jumped higher by 5.71% each on the Index.

The least week-on-week increase in prices was seen in Shredded Auto Scrap.

USA East Coast Prices

The price of all steel scrap commodities inched higher during the previous week.

The prices of #1 Bundle and #1 Busheling scrap recorded the largest increase, rising by 7.59% and 7.23% respectively over the prior week. The weekly price chart of #1 Busheling is provided below:

The HMS 80/20 scrap prices rose by 7.14% from $280 per MT to $300 per MT during the week ended February 27, 2025. 

Sheet Metal prices recorded an increase of 6.12%.

Also, #1 HMS, Structural Steel and Shredded Auto Scrap prices edged higher over the prior week.

USA Midwest Prices

The region reported increase in prices of all commodities.

The prices of #1 Bundle and #1 Busheling scrap recorded the largest increase, witnessing a rise of 7.59% and 7.23% respectively over the prior week.

The other scrap categories to report significant jump in prices were HMS 80/20 and Sheet Metal.

The below chart depicts the weekly price movement in Sheet Metal scrap:

The least increase in prices was recorded in Shredded Auto Scrap, whose prices were up by 4.94% over the prior week.

USA West Coast Prices

The prices of #1 Bundle and #1 Busheling scrap recorded the biggest jump, increasing by 7.59% and 7.23% respectively over the prior week.

The HMS 80/20 scrap prices too were up by 7.14% over the prior week.

Also, notable price increases were reported in Sheet Metal.

The prices of #1 HMS and Structural Steel were up by 5.71% each.

In the meantime, the prices of Shredded Auto Scrap increased by 4.94% week-on-week. The prices of the commodity ended the week at $425 per MT, upon comparison with $405 per MT at the start of the week.

China Prices

The Chinese steel scrap market has been flat during the week. The prices of #1 HMS scrap witnessed no change from the prior week. Cast Iron Scrap prices held steady, as shown in the below chart.

Europe Prices

The prices of all steel scrap commodities such as #1 HMS, Cast Iron Scrap, Grade 1 Old Steel, Grade 2 Old Steel, Grade OA Structural Plate, Sheet Metal, Shredded Auto Scrap and Structural Steel held steady when compared with the week before.

The price variation in Grade OA Structural Plate over the one-week period from February 21 to February 27, 2025 is provided in the below chart.

LME Steel Market Update

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on February 27, 2025 stood at $365.00 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $571.50 per tonne.

Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on February 27, 2025 closed at $381.00 per tonne.

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