Steel Scrap Prices: Weekly Market Report – May 16, 2025

SEATTLE (Scrap Monster): Based on price data compiled from the Scrap Monster Price Index, one could see that steel scrap prices declined across the board during the past one week period from May 9 to 15, 2025.

North America Prices

The prices of Shredded Auto Scrap recorded the biggest decline, falling by 9.76% over the previous week.

The chart below provides weekly price trends in Shredded Auto Scrap in the North American region:

The HMS 80/20 prices were down by 8.33% over the prior week.

Also, notable price decline was reported in Sheet Metal, whose prices edged lower by 7.69%.

The prices of #1 HMS and Structural Steel recorded decline by 6.94% each on the Index.

The least week-on-week decline in prices was seen in #1 Busheling.

USA East Coast Prices

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

The prices of Shredded Auto Scrap and HMS 80/20 scrap recorded the largest dip, falling by 9.76% and 8.33% respectively over the prior week. The weekly price chart of HMS 80/20 scrap  is provided below:

The Sheet Metal prices dropped by 7.69% from $260 per MT to $240 per MT during the week. 

#1 HMS and Structural Steel prices were down by 6.94% each.

Also, #1 Bundle and #1 Busheling prices were down by 4.65% and 4.44% each over the prior week.

USA Midwest Prices

The region reported decline in prices of all commodities.

The prices of Shredded Auto Scrap and HMS 80/20 scrap recorded the largest dip, witnessing a decline of 9.76% and 8.33% respectively over the prior week.

The other scrap categories to report notable decline in prices were Sheet Metal, #1 HMS and Structural Steel.

The below chart depicts the weekly price movement in Structural Steel scrap:

The least decline in prices were recorded in #1 Bundle and #1 Busheling, whose prices were down by 4.65% and 4.44% respectively over the prior week.

USA West Coast Prices

The prices of Shredded Auto Scrap recorded the biggest fall, declining by 9.76% over the prior week.

The HMS 80/20 prices also were down by 8.33% over the prior week.

Also, notable price declines were reported in Sheet Metal, #1 HMS and Structural Steel. The prices of Sheet Metal scrap went down by 7.69%. Additionally, the prices of #1 HMS and Structural Steel dipped by 6.94% each.

The least week-on-week decline in prices was seen in #1 Bundle and #1 Busheling, whose prices edged lower by 4.65% and 4.44% respectively.

The prices of #1 Busheling ended the week at $430 per MT, upon comparison with $450 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 1 Old Steel over the one-week period from May 9 to 15, 2025 is provided in the below chart.

LME Steel Market Update

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on May 15, 2025 stood at $347.00 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $551.50 per tonne.

Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on May 15, 2025 closed at $371.00 per tonne.

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