US: RMDAS ferrous scrap index falls marginally m-o-m in Mar’26; near-term outlook soft

• Export demand supports prices despite cautious market sentiment
• Rising supply pressures obsolete grades; price drop likely in Apr’26

The RMDAS ferrous scrap index, tracking spot transactions for US steel mills and foundries, showed mixed movements in a narrow range as of 20 March 2026 compared with the same period in February.

Shredded scrap declined by $2/t m-o-m to $451/t, prompt industrial composite scrap remained stable at $465/t, and HMS decreased by $2/t to $408/t.

Market sentiment was stable but cautious in March, supported by a recovery in export demand and strengthening domestic steel prices. However, market participants expect a correction of $10-30/t in April, as improving scrap inflows and rising inventories continue to pressure obsolete grades.